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208 Riverwood Drive Clayton, NC 27527

3 Beds 2 Baths 2,150 sqft Built 1996

$300,000

List Price

$1,680

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

December 10, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $139.53
  • 4 Days on Market
  • MLS # : 2357279
  • Updated Date : 12/13/2020 at 00:43
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,150 sqft
  • Baths : 2 full
Listing Agent

Era Live Moore

Listing Agent's Description

Great lot and beautiful open floor plan overlooking the golf course in Riverwood. Master suite goes out to the deck overlooking the course. Measurements and pictures coming soon.

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: Riverwood Golf Club

NeighborhoodNIR Market*CityMarket2010Year20002019140k150k160k170k180k190k200k210k220k230k240k250k260k270kPrice in $131k272k

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

Neighborhood: Riverwood Golf Club

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q295010001050110011501200125013001350140014501500155016001650Rent in $9461674

* 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
Riverwood Elementary School Primary Regular 837 49 6
Riverwood Middle School Middle Regular 1,149 64 7
Corinth Holders High School High Regular 1,679 91 5

Riverwood Elementary School

  • Education Level: Primary
  • # of students: 837
  • # of teachers: 49
6
GreatSchools Rating

Riverwood Middle School

  • Education Level: Middle
  • # of students: 1,149
  • # of teachers: 64
7
GreatSchools Rating

Corinth Holders High School

  • Education Level: High
  • # of students: 1,679
  • # of teachers: 91
5
GreatSchools Rating
 

$270,000$330,000$300,000

PURCHASE PRICE

$1,512$1,848$1,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,680
EXPENSES Loan Payment -$1,107
Property Tax -$197
Property Insurance -$69
HOA -$11
Property Management Fees -$119
CASH FLOW
$177

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.

$300,000

PROJECTED PRICE

$1,680

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 3.6%
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$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

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$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $75,000
Loan Amount $225,000
See What Happens When You Reinvest Cash Flow

9

YEARS SAVED

$42,440

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,680

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $1,494

    COMP ESTIMATED VALUE
  • $0.7

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,5503$1,5754$1,6505$1,680
$1,680
RENT COMPS ANALYSIS
  • 208 Riverwood Drive Clayton, NC 5
    • 3 beds 2 baths ∙ 2,150 Sqft ∙ Built 1996 3 beds 2 baths ∙ 2,150 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $0.78
    •  
  • 175 River Hills Drive Clayton, NC 1
    • 4 beds 3 baths ∙ 2,090 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,090 Sqft ∙ Built 2005
    LEASED 11/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.67
    •  
  • 216 Pearson Place Clayton, NC 2
    • 3 beds 3 baths ∙ 2,038 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,038 Sqft ∙ Built 2007
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.76
    •  
  • 1093 Loop Road Clayton, NC 3
    • 4 beds 3 baths ∙ 2,310 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,310 Sqft ∙ Built 1996
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.68
    •  
  • 140 Gasper Court Clayton, NC 4
    • 4 beds 3 baths ∙ 2,446 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,446 Sqft ∙ Built 1998
    LEASED 08/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.67
    •  
PROPERTY LISTING DETAILS
Debra Cortese
1.919.602.8292
Era Live Moore
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2357279
Last Updated: 12/13/2020
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