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201 Hazelmere Drive Holly Springs, NC 27540

3 Beds 3 Baths 1,495 sqft Built 2000

$245,000

List Price

$1,330

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $163.88
  • 3 Days on Market
  • MLS # : 2366661
  • Updated Date : 02/13/2021 at 21:44
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,495 sqft
  • Baths : 2 full , 1 half
Listing Agent

Dream Living Realty

Listing Agent's Description

Your move-in ready home awaits you! Step into the soaring 2-story living room of this 3-bed, 2.5 bath home where you'll be greeted by tons of natural light. Enjoy privacy in your fenced-in back yard. Updated kitchen cabinets, flooring & newer HVAC. Refrigerator, washer & dryer convey! Stop by and take a look!

SEE MORE

MARKET HIGHLIGHTS

  • 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
  • Major employers in Raleigh area: IBM, Cisco systems, Fidelity Investments, GlaxoSmithKline, RTI International
  • #7 Best Big City for Jobs 2018 (Forbes, 2018)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Arbor Creek

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $139k400k

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

Neighborhood: Arbor Creek

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2100011001200130014001500160017001800Rent in $9311873

* 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
Holly Springs Elementary School Primary Regular 1,086 64 8
Holly Ridge Middle School Middle Regular 1,222 69 4
Apex Friendship High School High Unknown NA

Holly Springs Elementary School

  • Education Level: Primary
  • # of students: 1,086
  • # of teachers: 64
8
GreatSchools Rating

Holly Ridge Middle School

  • Education Level: Middle
  • # of students: 1,222
  • # of teachers: 69
4
GreatSchools Rating

Apex Friendship High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$220,500$269,500$245,000

PURCHASE PRICE

$1,197$1,463$1,330

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,330
EXPENSES Loan Payment -$851
Property Tax -$179
Property Insurance -$56
HOA -$33
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.

$245,000

PROJECTED PRICE

$1,330

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.33%
Appreciation Year (1-5) 6.9%
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$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$70,675

INVESTMENT

$70,675

Down Payment
$61,250
Rehab Estimate
$5,750
Closing Costs
$3,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$851

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $61,250
Loan Amount $183,750
See What Happens When You Reinvest Cash Flow

8.17

YEARS SAVED

$25,852

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,330

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,409

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,330
1$1,3302$1,4253$1,4954$1,5505$1,595
$1,595
RENT COMPS ANALYSIS
  • 201 Hazelmere Drive Holly Springs, NC 1
    • 3 beds 3 baths ∙ 1,495 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,495 Sqft ∙ Built 2000
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,330
    • $0.89
    •  
  • 217 Hazelmere Drive Holly Springs, NC 2
    • 3 beds 3 baths ∙ 1,455 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,455 Sqft ∙ Built 2000
    property image
    LEASED 02/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $0.98
    •  
  • 1004 Creek Haven Drive Holly Springs, NC 3
    • 3 beds 2 baths ∙ 1,659 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,659 Sqft ∙ Built 1998
    property image
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.90
    •  
  • 132 Fairford Drive Holly Springs, NC 4
    • 3 beds 3 baths ∙ 1,669 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,669 Sqft ∙ Built 2003
    property image
    LEASED 11/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.93
    •  
  • 240 Milpass Drive Holly Springs, NC 5
    • 3 beds 3 baths ∙ 1,670 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,670 Sqft ∙ Built 2005
    property image
    LEASED 07/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.96
    •  
PROPERTY LISTING DETAILS
Veronica Kearney
1.919.665.6500
Dream Living Realty
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2366661
Last Updated: 02/13/2021
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