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22 Diploma Drive Clayton, NC 27520

3 Beds 3 Baths 1,564 sqft Built 2020

$243,900

List Price

$1,550

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

90% chance this property will be sold within the next 10 days HOT INVESTMENT
Built 2020 NEW CONSTRUCTION
November 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $155.95
  • 5 Days on Market
  • MLS # : 2353153
  • Updated Date : 11/11/2020 at 16:52
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,564 sqft
  • Baths : 2 full , 1 half
Listing Agent

Hometowne Realty

Listing Agent's Description

Indulge in a beautiful expanse of cabinetry and granite countertops in this exquisite new-build home in downtown Clayton's newest community, Academy Pointe! Enjoy a large family room featuring a cozy fireplace, large bar island in the kitchen, and a gorgeous master suite with ceiling fan and his & hers vanity. With 3 bedrooms & 2.5 baths, this home is perfect for hosting guests or claiming an office all to yourself! Enjoy your maintenance free yard plus pools, gyms & golf with your FSC Membership!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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
  • #7 Best Big City for Jobs 2018 (Forbes, 2018)
  • Major employers in Raleigh area: IBM, Cisco systems, Fidelity Investments, GlaxoSmithKline, RTI International
  • One of Top 10 cities for Small Business Friendliness (Thumbtack, 2018)

PRICE & RENT TRENDS

Neighborhood: Neuse

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $107k265k

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

Neighborhood: Neuse

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2800900100011001200130014001500Rent in $7651595

* 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
Cooper Academy Primary Regular 593 45 2
Riverwood Middle School Middle Regular 1,149 64 7
Clayton High School High Regular 1,512 85 5

Cooper Academy

  • Education Level: Primary
  • # of students: 593
  • # of teachers: 45
2
GreatSchools Rating

Riverwood Middle School

  • Education Level: Middle
  • # of students: 1,149
  • # of teachers: 64
7
GreatSchools Rating

Clayton High School

  • Education Level: High
  • # of students: 1,512
  • # of teachers: 85
5
GreatSchools Rating
 

$219,510$268,290$243,900

PURCHASE PRICE

$1,395$1,705$1,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,550
EXPENSES Loan Payment -$900
Property Tax -$250
Property Insurance -$58
HOA -$99
Property Management Fees -$140
CASH FLOW
$104

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$243,900

PROJECTED PRICE

$1,550

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 5.4%
Maintenance Year (1-5) 3.00%
Vacancy 7.47%
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$14k

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$66,634

INVESTMENT

$66,634

Down Payment
$60,975
Rehab Estimate
$2,000
Closing Costs
$3,659

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$900

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $60,975
Loan Amount $182,925
See What Happens When You Reinvest Cash Flow

6.42

YEARS SAVED

$22,393

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,550

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $1,501

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,4953$1,5504$1,6505$1,700
$1,700
RENT COMPS ANALYSIS
  • 22 Diploma Drive Clayton, NC 3
    • 3 beds 3 baths ∙ 1,564 Sqft ∙ Built 2020 3 beds 3 baths ∙ 1,564 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.99
    •  
  • 16 Manito Place Clayton, NC 1
    • 3 beds 3 baths ∙ 1,510 Sqft ∙ Built 2017 3 beds 3 baths ∙ 1,510 Sqft ∙ Built 2017
    LEASED 03/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.92
    •  
  • 128 Balboa Parkway Clayton, NC 2
    • 3 beds 3 baths ∙ 1,510 Sqft ∙ Built 2017 3 beds 3 baths ∙ 1,510 Sqft ∙ Built 2017
    LEASED 04/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.99
    •  
  • 445 Atwood Drive Clayton, NC 4
    • 3 beds 3 baths ∙ 1,751 Sqft ∙ Built 2020 3 beds 3 baths ∙ 1,751 Sqft ∙ Built 2020
    LEASED 11/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.94
    •  
  • 104 Parkview Drive Clayton, NC 5
    • 3 beds 3 baths ∙ 1,711 Sqft ∙ Built 2016 3 beds 3 baths ∙ 1,711 Sqft ∙ Built 2016
    LEASED 03/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.99
    •  
PROPERTY LISTING DETAILS
Jaclyn Smith
1.919.813.0123
Hometowne Realty
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2353153
Last Updated: 11/11/2020
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