Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

207 Stone Lane Clayton, NC 27520

3 Beds 3 Baths 1,756 sqft Built 1988

$270,000

List Price

$1,450

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $153.76
  • 4 Days on Market
  • MLS # : 2370084
  • Updated Date : 03/06/2021 at 13:01
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,756 sqft
  • Baths : 2 full , 1 half
Listing Agent

Exp Realty

Listing Agent's Description

Beautiful Clayton home with a country setting, yet close to city conveniences. Downstairs you will enjoy the large living room semi-open to the kitchen, making it easy to entertain. Separate dining room can be used for dinner parties or home office. Screened deck out back is perfect for relaxing and enjoying your large, private backyard. Upstairs you will find a generously sized master with private bath, two secondary bedrooms and a full bath. Welcome home!

SEE MORE

MARKET HIGHLIGHTS

  • 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
  • One of Top 10 cities for Small Business Friendliness (Thumbtack, 2018)

PRICE & RENT TRENDS

Neighborhood: Stonebrook

NeighborhoodNIR Market*CityMarket2010Year20002019140k150k160k170k180k190k200k210k220k230k240k250k260kPrice in $131k265k

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

Neighborhood: Stonebrook

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2950100010501100115012001250130013501400145015001550Rent in $9461595

* 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
West Clayton Elementary School Primary Regular 902 58 6
Clayton Middle School Middle Regular 793 49 4
Clayton High School High Regular 1,512 85 5

West Clayton Elementary School

  • Education Level: Primary
  • # of students: 902
  • # of teachers: 58
6
GreatSchools Rating

Clayton Middle School

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

Clayton High School

  • Education Level: High
  • # of students: 1,512
  • # of teachers: 85
5
GreatSchools Rating
 

$243,000$297,000$270,000

PURCHASE PRICE

$1,305$1,595$1,450

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,450
EXPENSES Loan Payment -$938
Property Tax -$183
Property Insurance -$61
Property Management Fees -$119
CASH FLOW
$149

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.

$270,000

PROJECTED PRICE

$1,450

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 5.4%
Maintenance Year (1-5) 8.00%
Vacancy 7.49%
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$18k

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$77,300

INVESTMENT

$77,300

Down Payment
$67,500
Rehab Estimate
$5,750
Closing Costs
$4,050

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$938

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $67,500
Loan Amount $202,500
See What Happens When You Reinvest Cash Flow

8.58

YEARS SAVED

$31,155

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,450

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,563

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,3503$1,4254$1,4505$1,450
$1,450
RENT COMPS ANALYSIS
  • 207 Stone Lane Clayton, NC 5
    • 3 beds 3 baths ∙ 1,756 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,756 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.83
    •  
  • 408 Waterford Drive Clayton, NC 1
    • 3 beds 3 baths ∙ 1,419 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,419 Sqft ∙ Built 1999
    LEASED 10/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.92
    •  
  • 104 Kildaire Court Clayton, NC 2
    • 3 beds 3 baths ∙ 1,574 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,574 Sqft ∙ Built 1999
    LEASED 12/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.86
    •  
  • 300 Alder Lane Clayton, NC 3
    • 3 beds 3 baths ∙ 1,576 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,576 Sqft ∙ Built 1999
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $0.90
    •  
  • 109 Walnut Creek Drive Clayton, NC 4
    • 3 beds 3 baths ∙ 1,650 Sqft ∙ Built 1996 3 beds 3 baths ∙ 1,650 Sqft ∙ Built 1996
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.88
    •  
PROPERTY LISTING DETAILS
Leah Green
1.757.235.7711
Exp Realty
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2370084
Last Updated: 03/06/2021
BESbswy