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1954 Sterling Hill Drive Fuquay Varina, NC 27526

4 Beds 3 Baths 1,834 sqft Built 2006

$265,000

List Price

$1,480

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $144.49
  • 3 Days on Market
  • MLS # : 2367794
  • Updated Date : 02/19/2021 at 20:19
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,834 sqft
  • Baths : 2 full , 1 half
Listing Agent

Dash Carolina

Listing Agent's Description

Lovely 4 bedroom, 2.5 bathroom home in Fuquay Varina! Enter from the quaint covered front porch to desirable features such as hardwood floors, vaulted & cathedral ceilings, solid surface countertops, and a sought-after gas fireplace located in the spacious living room. Entertain outdoors on the private patio before heading upstairs to 4 bedrooms, including the spacious master bedroom with en-suite bathroom. This home is conveniently located to major roadways for convenient commuting through the Triangle!

SEE MORE

MARKET HIGHLIGHTS

  • One of Top 10 cities for Small Business Friendliness (Thumbtack, 2018)
  • Raleigh-Durham combined metros' economy is worth over $137 billion in Gross Metro Product and projected to grow to $146 billion in 2019 (USMayors.org, 2018)
  • Raleigh-Durham combined metros has 65.3% labor force participation rate higher than the national rate of 62.8% (USMayors.org, 2018)
  • Raleigh-Durham combined metros contribute to 24.1% of North Carolina's state economy i.e. Gross State Product (USMayors.org, 2018)
  • University of North Carolina, Duke University and Davidson University systems drive rental demand
  • #7 Best Big City for Jobs 2018 (Forbes, 2018)
  • Major employers in Raleigh area: IBM, Cisco systems, Fidelity Investments, GlaxoSmithKline, RTI International

PRICE & RENT TRENDS

Neighborhood: Sterling Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $140k359k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Sterling Ridge

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2100011001200130014001500160017001800Rent in $9331873

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Fuquay-varina Elementary School Primary Regular 797 51 5
Fuquay-varina Middle School Middle Regular 819 55 4
Fuquay-varina High School High Regular 2,117 114 7

Fuquay-varina Elementary School

  • Education Level: Primary
  • # of students: 797
  • # of teachers: 51
5
GreatSchools Rating

Fuquay-varina Middle School

  • Education Level: Middle
  • # of students: 819
  • # of teachers: 55
4
GreatSchools Rating

Fuquay-varina High School

  • Education Level: High
  • # of students: 2,117
  • # of teachers: 114
7
GreatSchools Rating
 

$238,500$291,500$265,000

PURCHASE PRICE

$1,332$1,628$1,480

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,480
EXPENSES Loan Payment -$920
Property Tax -$195
Property Insurance -$63
HOA -$275
Property Management Fees -$119
CASH FLOW
-$92

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 16% of earned rent to cover both maintenance and periods of vacancy.

$265,000

PROJECTED PRICE

$1,480

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.33%
Appreciation Year (1-5) 6.6%
Maintenance Year (1-5) 8.00%
Vacancy 7.51%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$75,975

INVESTMENT

$75,975

Down Payment
$66,250
Rehab Estimate
$5,750
Closing Costs
$3,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$920

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $66,250
Loan Amount $198,750
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$8,968

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $1,480

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $1,577

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,425
1$1,4252$1,4503$1,4804$1,7505$1,795
$1,795
RENT COMPS ANALYSIS
  • 1954 Sterling Hill Drive Fuquay Varina, NC 3
    • 4 beds 3 baths ∙ 1,834 Sqft ∙ Built 2006 4 beds 3 baths ∙ 1,834 Sqft ∙ Built 2006
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,480
    • $0.81
    •  
  • 1437 Tuscan Drive Fuquay Varina, NC 1
    • 3 beds 3 baths ∙ 1,781 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,781 Sqft ∙ Built 2006
    property image
    LEASED 06/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $0.80
    •  
  • 1435 Sexton Ridge Drive Fuquay Varina, NC 2
    • 3 beds 3 baths ∙ 1,700 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,700 Sqft ∙ Built 2006
    property image
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.85
    •  
  • 1417 Sexton Ridge Drive Fuquay Varina, NC 4
    • 3 beds 3 baths ∙ 1,950 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,950 Sqft ∙ Built 2007
    property image
    LEASED 09/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.90
    •  
  • 1429 Dairy Glen Drive Fuquay Varina, NC 5
    • 4 beds 3 baths ∙ 2,015 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,015 Sqft ∙ Built 2008
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.89
    •  
PROPERTY LISTING DETAILS
Garrett Browning
1.919.295.0466
Dash Carolina
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2367794
Last Updated: 02/19/2021
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