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214 Manassas Drive Simpsonville, SC 29680

3 Beds 2 Baths - sqft Built 1980

$195,000

List Price

$1,340

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1980
  • Price/Sqft : $131.14
  • 2 Days on Market
  • MLS # : 1436875
  • Updated Date : 02/06/2021 at 14:19
CONSTRUCTION
  • Beds : 3
  • Floor Size : '-'
  • Baths : 2 full
Listing Agent

Mcalister Realty

Listing Agent's Description

Location, Location, Location. This reasonably priced home is in the heart of Simpsonville. Located in popular Powderhorn, there is plenty of reasons to take a look at this one. From enjoying the hot summer day at the community pool to the kids playing ball in the large open field at the clubhouse. Manassas is a cul de sac road with very little traffic for the kids to ride their back or just taking an evening walk. This ranch style home has a generous amount of yard space. Large kitchen with a breakfast nook just off to the front and a formal dining to the back. Very large family room to enjoy reading a book in front of the fireplace. Well laid out so that you have your privacy or the togetherness of that Thanksgiving dinner. With new luxury vinyl plank flooring in the main living, new carpet in all bedrooms and a fresh coat of paint, this is home is ready to move in to and start living. When you say minutes to shopping, it is literally minutes to all your shopping needs. Convenient to Downtown Greenville and everything the Upstate has to offer. Don't Miss Out because this one will not last!!!

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PRICE & RENT TRENDS

Zip Code: 29680

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $85k240k

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

Zip Code: 29680

ZipNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600Rent in $9171659

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

SCHOOLS

 
Sorry, we do not have sufficient school data for this neighborhood.
 

$175,500$214,500$195,000

PURCHASE PRICE

$1,206$1,474$1,340

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,340
EXPENSES Loan Payment -$677
Property Tax -$261
Property Insurance -$54
Property Management Fees -$107
CASH FLOW
$240

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$195,000

PROJECTED PRICE

$1,340

PROJECTED RENT

0.69%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.42%
Appreciation Year (1-5) 4.7%
Maintenance Year (1-5) 8.00%
Vacancy 6.12%
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

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$57,425

INVESTMENT

$57,425

Down Payment
$48,750
Rehab Estimate
$5,750
Closing Costs
$2,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$677

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $48,750
Loan Amount $146,250
See What Happens When You Reinvest Cash Flow

10.58

YEARS SAVED

$31,189

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,340

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,209

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,340
1$1,3402$1,3753$1,3954$1,395
$1,395
RENT COMPS ANALYSIS
* Sqft is provided from public sources
  • 214 Manassas Drive Simpsonville, SC 1
    • 3 beds 2 baths ∙ 1,487 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,487 Sqft ∙ Built 1980
    • Rent
    • Rent Per SQFT
    •  
    • $1,340
    • $0.90
    •  
  • 111 Goldrush Court Simpsonville, SC 2
    • 3 beds 2 baths ∙ 1,713 Sqft ∙ Built 3 beds 2 baths ∙ 1,713 Sqft ∙ Built
    LEASED 11/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.80
    •  
  • 211 Two Gait Lane Simpsonville, SC 3
    • 3 beds 3 baths ∙ 1,780 Sqft ∙ Built 3 beds 3 baths ∙ 1,780 Sqft ∙ Built
    LEASED 11/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.78
    •  
  • 203 Garfield Lane Greenville, SC 4
    • 4 beds 2 baths ∙ 1,620 Sqft ∙ Built 4 beds 2 baths ∙ 1,620 Sqft ∙ Built
    LEASED 12/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.86
    •  
PROPERTY LISTING DETAILS
Nathan Herb
1.864.292.0400
Mcalister Realty
Lauren Taylor
1.866.250.5610
Homeunion SC LLC
21064
( GGARMLS)
MLS #: 1436875
Last Updated: 02/06/2021
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