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2145 Maizefield Lane Fuquay Varina, NC 27526

3 Beds 2 Baths 1,620 sqft Built 2005

$274,900

List Price

$1,340

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

January 29, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $169.69
  • 3 Days on Market
  • MLS # : 2363998
  • Updated Date : 01/29/2021 at 17:23
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,620 sqft
  • Baths : 2 full
Listing Agent

Exp Realty

Listing Agent's Description

Immaculately kept RANCH home in pool and playground community! Located in the neighborhood is Ballentine Elementary school. Home boasts new roof, 2 car garage, split bedroom floor plan, open and bright layout, spacious master bathroom including garden tub and generous sized walk in closet, beautiful hardwoods, gas log fireplace in living room, connecting kitchen with tons of cabinet space and center island and screened in porch to enjoy your private oasis outdoors. This one won't last long!!!

SEE MORE

MARKET HIGHLIGHTS

  • #7 Best Big City for Jobs 2018 (Forbes, 2018)
  • 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)
  • 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
 

$247,410$302,390$274,900

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 -$955
Property Tax -$221
Property Insurance -$59
HOA -$55
Property Management Fees -$119
CASH FLOW
-$68

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.

$274,900

PROJECTED PRICE

$1,340

PROJECTED RENT

0.49%

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-$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$78,599

INVESTMENT

$78,599

Down Payment
$68,725
Rehab Estimate
$5,750
Closing Costs
$4,124

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$955

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $68,725
Loan Amount $206,175
See What Happens When You Reinvest Cash Flow

4.67

YEARS SAVED

$13,125

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
  • $0.83

    LIST RENT PER SQFT
  • $1,345

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,340
1$1,3402$1,4253$1,4504$1,4955$1,595
$1,595
RENT COMPS ANALYSIS
  • 2145 Maizefield Lane Fuquay Varina, NC 1
    • 3 beds 2 baths ∙ 1,620 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,620 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,340
    • $0.83
    •  
  • 1437 Tuscan Drive Fuquay Varina, NC 2
    • 3 beds 3 baths ∙ 1,781 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,781 Sqft ∙ Built 2006
    property image
    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
    property image
    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
    property image
    LEASED 12/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.84
    •  
  • 2034 Woodwater Drive Fuquay Varina, NC 5
    • 3 beds 2 baths ∙ 1,930 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,930 Sqft ∙ Built 2006
    property image
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.83
    •  
PROPERTY LISTING DETAILS
Emily Temple
1.919.524.2918
Exp Realty
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2363998
Last Updated: 01/29/2021
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