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

2120 Trefoil Lane Fuquay Varina, NC 27526

3 Beds 3 Baths 1,749 sqft Built 2006

$282,000

List Price

$1,440

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 27, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $161.23
  • 3 Days on Market
  • MLS # : 2355433
  • Updated Date : 11/28/2020 at 02:45
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,749 sqft
  • Baths : 2 full , 1 half
Listing Agent

Choice Residential Real Estate

Listing Agent's Description

THE ONE YOU'VE BEEN WAITING FOR! This well maintained 3 bed, 2.5 bath home sits in the highly desired Ballentine community and features NEW LVP throughout the main floor, NEW roof in 2019, and fresh paint. The kitchen boast an open floor plan with large island and new appliances great for entertaining. Owner suite features TWO walk in closets, dual vanity, garden tub, and walk in shower. Just in time to enjoy some hot cocoa and a firepit on your large patio inside your privately fenced in backyard.

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: Ballentine

NeighborhoodNIR Market*CityMarket2010Year20002019160k180k200k220k240k260k280k300k320k340kPrice in $153k359k

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

Neighborhood: Ballentine

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2100011001200130014001500160017001800Rent in $9841873

* 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
Ballentine Elementary School Primary Regular 462 36 5
Holly Grove Middle School Middle Regular 1,439 81 8
Fuquay-varina High School High Regular 2,117 114 7

Ballentine Elementary School

  • Education Level: Primary
  • # of students: 462
  • # of teachers: 36
5
GreatSchools Rating

Holly Grove Middle School

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

Fuquay-varina High School

  • Education Level: High
  • # of students: 2,117
  • # of teachers: 114
7
GreatSchools Rating
 

$253,800$310,200$282,000

PURCHASE PRICE

$1,296$1,584$1,440

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,440
EXPENSES Loan Payment -$1,040
Property Tax -$215
Property Insurance -$61
HOA -$55
Property Management Fees -$130
CASH FLOW
-$61

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.

$282,000

PROJECTED PRICE

$1,440

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.33%
Appreciation Year (1-5) 4.4%
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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

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

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$80,480

INVESTMENT

$80,480

Down Payment
$70,500
Rehab Estimate
$5,750
Closing Costs
$4,230

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,040

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $70,500
Loan Amount $211,500
See What Happens When You Reinvest Cash Flow

4.08

YEARS SAVED

$12,960

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,440

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $1,478

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,425
1$1,4252$1,4403$1,4504$1,4955$1,795
$1,795
RENT COMPS ANALYSIS
  • 2120 Trefoil Lane Fuquay Varina, NC 2
    • 3 beds 3 baths ∙ 1,749 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,749 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,440
    • $0.82
    •  
  • 1437 Tuscan Drive Fuquay Varina, NC 1
    • 3 beds 3 baths ∙ 1,781 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,781 Sqft ∙ Built 2006
    LEASED 06/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $0.80
    •  
  • 1435 Sexton Ridge Drive Fuquay Varina, NC 3
    • 3 beds 3 baths ∙ 1,700 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,700 Sqft ∙ Built 2006
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.85
    •  
  • 1413 Dairy Glen Drive Fuquay Varina, NC 4
    • 3 beds 2 baths ∙ 1,785 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,785 Sqft ∙ Built 2007
    LEASED 12/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.84
    •  
  • 1429 Dairy Glen Drive Fuquay Varina, NC 5
    • 4 beds 3 baths ∙ 2,015 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,015 Sqft ∙ Built 2008
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.89
    •  
PROPERTY LISTING DETAILS
Ashley Denny
1.336.918.3216
Choice Residential Real Estate
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2355433
Last Updated: 11/28/2020
BESbswy