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2016 Spring Valley Drive Clayton, NC 27520

3 Beds 2 Baths 1,583 sqft Built 1988

$219,900

List Price

$1,240

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $138.91
  • 4 Days on Market
  • MLS # : 2356275
  • Updated Date : 12/05/2020 at 21:23
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,583 sqft
  • Baths : 2 full
Listing Agent

Hometowne Realty

Listing Agent's Description

Multiple Offers! Exceptionally maintained & updated MOVE IN Ready home! Excellent Location w/ quick access to HWY 42 & I40! 1.5 Story w/ Master down featuring his & her closets! 4 potential bedrooms (3 Bed Septic system) Wood laminate flooring in family room with a Brick LP ventless fireplace & built in shelves! Freshly painted throughout home & beautiful granite countertops in kitchen! New carpet & fixtures! Oversized rear deck w/ wired storage shed! Wooded lot w/ tons of privacy & no restrictions!

SEE MORE

MARKET HIGHLIGHTS

  • Major employers in Raleigh area: IBM, Cisco systems, Fidelity Investments, GlaxoSmithKline, RTI International
  • One of Top 10 cities for Small Business Friendliness (Thumbtack, 2018)
  • #7 Best Big City for Jobs 2018 (Forbes, 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

PRICE & RENT TRENDS

Neighborhood: Spring Valley

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $92k265k

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

Neighborhood: Spring Valley

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2800900100011001200130014001500Rent in $7461595

* 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
Cleveland Elementary School Primary Regular 835 49 6
Clayton Middle School Middle Regular 793 49 4
Cleveland High School High Regular 1,468 80 6

Cleveland Elementary School

  • Education Level: Primary
  • # of students: 835
  • # of teachers: 49
6
GreatSchools Rating

Clayton Middle School

  • Education Level: Middle
  • # of students: 793
  • # of teachers: 49
4
GreatSchools Rating

Cleveland High School

  • Education Level: High
  • # of students: 1,468
  • # of teachers: 80
6
GreatSchools Rating
 

$197,910$241,890$219,900

PURCHASE PRICE

$1,116$1,364$1,240

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,240
EXPENSES Loan Payment -$811
Property Tax -$149
Property Insurance -$58
Property Management Fees -$119
CASH FLOW
$103

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$219,900

PROJECTED PRICE

$1,240

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 5.4%
Maintenance Year (1-5) 8.00%
Vacancy 7.47%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$64,024

INVESTMENT

$64,024

Down Payment
$54,975
Rehab Estimate
$5,750
Closing Costs
$3,299

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$811

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $54,975
Loan Amount $164,925
See What Happens When You Reinvest Cash Flow

8.25

YEARS SAVED

$27,709

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,240

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $1,029

    COMP ESTIMATED VALUE
  • $0.65

    COMP AVG. RENT PER SQFT
Comps Range
$1,000
1$1,0002$1,240
$1,240
RENT COMPS ANALYSIS
  • 2016 Spring Valley Drive Clayton, NC 2
    • 3 beds 2 baths ∙ 1,583 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,583 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $1,240
    • $0.78
    •  
  • 122 Forest Lane Garner, NC 1
    • 3 beds 2 baths ∙ 1,530 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,530 Sqft ∙ Built 1997
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,000
    • $0.65
    •  
PROPERTY LISTING DETAILS
Season Wyatt
1.919.550.7355
Hometowne Realty
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2356275
Last Updated: 12/05/2020
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