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PROPERTY INFO
FACTS
- Single Family
- Built In 2007
- Price/Sqft : $148.21
- 2 Days on Market
- MLS # : 2355487
- Updated Date : 11/28/2020 at 20:16
CONSTRUCTION
- Beds : 3
- Floor Size : 1,923 sqft
- Baths : 2 full , 1 half
Listing Agent
Howard Perry & Walston Realtor
Listing Agent's Description
Fabulous home in desirable Braxton Village! Double story entryway, hardwoods throughout first floor, separate dining rm with trey ceiling & millwork, breakfast room, walk in pantry! 3 bedrooms plus family/loft area easily converted to 4th bedrm. Screened in porch leading to a flat, large fenced backyard with tree buffer. Neighborhood amenities include pool & playground. Convenient to shopping, restaurants, schools.
SEE MORE
- 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
- 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)
PRICE & RENT TRENDS
Neighborhood: Braxton Village
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Braxton Village
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,600 |
| EXPENSES | Loan Payment | -$1,052 |
| Property Tax | -$247 | |
| Property Insurance | -$65 | |
| HOA | -$22 | |
| Property Management Fees | -$144 | |
|
CASH FLOW
$71
|
||
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.
$285,000
PROJECTED PRICE
$1,600
PROJECTED RENT
0.56%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.33% |
| Appreciation Year (1-5) | 6.3% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 7.51% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$81,275
LOAN DETAILS
$1,052
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $71,250 |
| Loan Amount | $213,750 |
6.5
YEARS SAVED
$26,077
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,600
LIST RENT -
$0.83
LIST RENT PER SQFT
-
$1,606
COMP ESTIMATED VALUE -
$0.84
COMP AVG. RENT PER SQFT
Comps Range
-
209 Braxcarr Street Holly Springs, NC 4
- 3 beds 3 baths ∙ 1,923 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,923 Sqft ∙ Built 2007
- Rent
- Rent Per SQFT
- $1,600
- $0.83
-
216 Braxman Lane Holly Springs, NC 1
- 3 beds 3 baths ∙ 1,912 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,912 Sqft ∙ Built 2006
LEASED 01/16/20- Rent
- Rent Per SQFT
- $1,500
- $0.78
-
212 Braxcarr Street Holly Springs, NC 2
- 4 beds 3 baths ∙ 1,900 Sqft ∙ Built 2008 4 beds 3 baths ∙ 1,900 Sqft ∙ Built 2008
LEASED 07/01/20- Rent
- Rent Per SQFT
- $1,595
- $0.84
-
104 Braxton Village Way Holly Springs, NC 3
- 3 beds 3 baths ∙ 1,833 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,833 Sqft ∙ Built 2002
LEASED 10/16/20- Rent
- Rent Per SQFT
- $1,600
- $0.87
-
205 Talley Ridge Drive Holly Springs, NC 5
- 3 beds 3 baths ∙ 2,008 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,008 Sqft ∙ Built 2003
LEASED 02/09/20- Rent
- Rent Per SQFT
- $1,700
- $0.85
PROPERTY LISTING DETAILS
1.919.606.9277
Howard Perry & Walston Realtor
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
MLS #: 2355487
Last Updated: 11/28/2020
