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205 Holly Acres Road Holly Springs, NC 27540

3 Beds 2 Baths 1,068 sqft Built 1984

INVESTimate

$194,000

List Price

$1,190

$1,071 - $1,309

Rent Est.

$204,301  ( +5.31%)   1 YR EST. FORECAST

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
YES TENANTED
August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 1984
  • Price/Sqft : $181.65
  • 5 Days on Market
  • MLS # : 2338668
  • Updated Date : 08/22/2020 at 15:07
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,068 sqft
  • Baths : 1 full , 1 half
Listing Agent

Anchored Realty Services Llc

Listing Agent's Description

Great opportunity for investment property or first time home buyer in downtown Holly Springs. this is a 3bedroom 1.5 bath home. On almost on ¾ of an acre you have plenty of room for gardening, a little brook behind and a deck to relaxin the evenings. Easy access to schools, Highways, parks. Property rented until the end of the year, but is open to leaving early. They are currently seeking out of state employment.

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

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350kPrice in $78k400k

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

Neighborhood: Holly Acres

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2900100011001200130014001500160017001800Rent in $8131873

* 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
Holly Springs High School High Regular 2,418 122 7

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

Holly Springs High School

  • Education Level: High
  • # of students: 2,418
  • # of teachers: 122
7
GreatSchools Rating
 

$174,600$213,400$194,000

PURCHASE PRICE

$1,071$1,309$1,190

RENT

DOWN PAYMENT
FINANCING

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,190
EXPENSES Loan Payment -$716
Property Tax -$143
Property Insurance -$48
Property Management Fees -$107
CASH FLOW
$176

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.

$194,000

PROJECTED PRICE

$1,190

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.33%
Appreciation Year (1-5) 5.31%
Maintenance Year (1-5) 8.00%
Vacancy 7.51%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$57,160

INVESTMENT

$57,160

Down Payment
$48,500
Rehab Estimate
$5,750
Closing Costs
$2,910

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$716

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $48,500
Loan Amount $145,500
See What Happens When You Reinvest Cash Flow

9.92

YEARS SAVED

$32,552

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,190

    LIST RENT
  • $1.11

    LIST RENT PER SQFT
  • $1,065

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,000
1$1,0002$1,1903$1,3504$1,3505$1,395
$1,395
RENT COMPS ANALYSIS
  • 205 Holly Acres Road Holly Springs, 2
    • 3 beds 2 baths ∙ 1,068 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,068 Sqft ∙ Built 1984
    • Rent
    • Rent Per SQFT
    •  
    • $1,190
    • $1.11
    •  
  • 317 Brooks Street Holly Springs, 1
    • 3 beds 1 baths ∙ 1,000 Sqft ∙ Built 1977 3 beds 1 baths ∙ 1,000 Sqft ∙ Built 1977
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,000
    • $1.00
    •  
  • 120 Lacombe Court Holly Springs, 3
    • 3 beds 3 baths ∙ 1,332 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,332 Sqft ∙ Built 2002
    LEASED 04/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.01
    •  
  • 953 Stinson Avenue Holly Springs, 4
    • 3 beds 3 baths ∙ 1,386 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,386 Sqft ∙ Built 2001
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.97
    •  
  • 100 Steeple Road Holly Springs, 5
    • 3 beds 2 baths ∙ 1,379 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,379 Sqft ∙ Built 1993
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.01
    •  
PROPERTY LISTING DETAILS
Matt Pittman
1.317.496.2192
Anchored Realty Services Llc
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2338668
Last Updated: 08/22/2020
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