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215 Edgewood Drive Mauldin, SC 29662

3 Beds 2 Baths - sqft Built 1967

$249,900

List Price

$1,490

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

January 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1967
  • Price/Sqft : $129.08
  • 3 Days on Market
  • MLS # : 1434788
  • Updated Date : 01/08/2021 at 20:59
CONSTRUCTION
  • Beds : 3
  • Floor Size : '-'
  • Baths : 2 full
Listing Agent

Keller Williams Easley/powd

Listing Agent's Description

This 3 bedroom room, 2 full bath home on one level is sure to go fast! With over 2,000 square feet, this home is move in ready and offers many updates in recent years. The architectural shingled roof is just 3 years old and the HVAC system was installed 6 years ago. All windows in the home have been replaced with tilt-in, thermal windows and the kitchen has been updated with new cabinets, stainless steel appliances, solid surface countertops and updgraded flooring throughout the kitchen, den, and office/study area. The home also retains much of it's original charm in the beautiful hardwood floors. You will find no carpet in this house! In addition to a great interior layout, the home offers a nearly half acre lot in a quite and super convenient location with no HOA. Enjoy your backyard from the raised concrete deck area while the lower patio is perfect for larger gatherings or a grill station. A spacious outbuilding with garage bay door offers electricity and is perfect for a workshop or just an extra area for storage. There are so many great features to this home you must see it for yourself; however, do not hesitate because this market is moving fast. Come see it before someone else makes it their new home.

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PRICE & RENT TRENDS

Zip Code: 29662

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $85k240k

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

Zip Code: 29662

ZipNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600Rent in $9171653

* 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
Mauldin Elementary School Primary Regular 909 53 6
Mauldin High School High Regular 2,240 108 8

Mauldin Elementary School

  • Education Level: Primary
  • # of students: 909
  • # of teachers: 53
6
GreatSchools Rating

Mauldin High School

  • Education Level: High
  • # of students: 2,240
  • # of teachers: 108
8
GreatSchools Rating
 

$224,910$274,890$249,900

PURCHASE PRICE

$1,341$1,639$1,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,490
EXPENSES Loan Payment -$868
Property Tax -$323
Property Insurance -$63
Property Management Fees -$119
CASH FLOW
$118

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.

$249,900

PROJECTED PRICE

$1,490

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.42%
Appreciation Year (1-5) 4.0%
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$800k

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$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$71,974

INVESTMENT

$71,974

Down Payment
$62,475
Rehab Estimate
$5,750
Closing Costs
$3,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$868

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $62,475
Loan Amount $187,425
See What Happens When You Reinvest Cash Flow

6.67

YEARS SAVED

$20,647

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,490

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $1,626

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,490
1$1,4902$1,5003$1,500
$1,500
RENT COMPS ANALYSIS
* Sqft is provided from public sources
  • 215 Edgewood Drive Mauldin, SC 1
    • 3 beds 2 baths ∙ 1,936 Sqft ∙ Built 1967 3 beds 2 baths ∙ 1,936 Sqft ∙ Built 1967
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,490
    • $0.77
    •  
  • 21 Poplar Springs Drive Mauldin, SC 2
    • 4 beds 3 baths ∙ 1,790 Sqft ∙ Built 4 beds 3 baths ∙ 1,790 Sqft ∙ Built
    property image
    LEASED 04/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.84
    •  
  • 129 Sunset Drive Mauldin, SC 3
    • 3 beds 2 baths ∙ 1,788 Sqft ∙ Built 3 beds 2 baths ∙ 1,788 Sqft ∙ Built
    property image
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.84
    •  
PROPERTY LISTING DETAILS
Roger Nix
1.864.346.4116
Keller Williams Easley/powd
Lauren Taylor
1.866.250.5610
Homeunion SC LLC
21064
( GGARMLS)
MLS #: 1434788
Last Updated: 01/08/2021
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