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209 Braxcarr Street Holly Springs, NC 27540

3 Beds 3 Baths 1,923 sqft Built 2007

$285,000

List Price

$1,600

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

November 28, 2020 RECENTLY ADDED
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

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
  • 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

NeighborhoodNIR Market*CityMarket2010Year20002019160k180k200k220k240k260k280k300k320k340k360k380kPrice in $152k400k

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

Neighborhood: Braxton Village

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q211001200130014001500160017001800Rent in $10271873

* 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 Grove Elementary School Primary Regular 1,128 66 7
Holly Grove Middle School Middle Regular 1,439 81 8
Holly Springs High School High Regular 2,418 122 7

Holly Grove Elementary School

  • Education Level: Primary
  • # of students: 1,128
  • # of teachers: 66
7
GreatSchools Rating

Holly Grove Middle School

  • Education Level: Middle
  • # of students: 1,439
  • # of teachers: 81
8
GreatSchools Rating

Holly Springs High School

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

$256,500$313,500$285,000

PURCHASE PRICE

$1,440$1,760$1,600

RENT

DOWN PAYMENT
FINANCING

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

ASSUMPTIONS

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
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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$81,275

INVESTMENT

$81,275

Down Payment
$71,250
Rehab Estimate
$5,750
Closing Costs
$4,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,052

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $71,250
Loan Amount $213,750
See What Happens When You Reinvest Cash Flow

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
$1,500
1$1,5002$1,5953$1,6004$1,6005$1,700
$1,700
RENT COMPS ANALYSIS
  • 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
Marlyn Gladieux
1.919.606.9277
Howard Perry & Walston Realtor
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2355487
Last Updated: 11/28/2020
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