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223 Donnibrook Run Fuquay Varina, NC 27526

3 Beds 3 Baths 2,283 sqft Built 2002

$273,000

List Price

$1,670

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

December 31, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $119.58
  • 4 Days on Market
  • MLS # : 2359586
  • Updated Date : 12/31/2020 at 18:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,283 sqft
  • Baths : 2 full , 1 half
Listing Agent

Secu*re Inc.

Listing Agent's Description

Charming two story home with lots of storage. This 4 bed 2.5 bath home features a fireplace in the living room. The back covered deck overlooking the woods would be the perfect place to start your day. Main living area, master, and laundry conveniently located on the first floor. Washer and dryer will convey with property. Kitchen has a refrigerator, microwave, range, and dishwasher that will convey with the property.

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: Donnibrook Pines

NeighborhoodNIR Market*CityMarket2010Year20002019130k140k150k160k170k180k190k200k210k220k230k240k250k260kPrice in $128k265k

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

Neighborhood: Donnibrook Pines

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q29001000110012001300140015001600Rent in $8441610

* 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
Lafayette Elementary School Primary Regular 712 41 7
Harnett Central Middle School Middle Regular 1,197 77 3
Harnett Central High School High Regular 1,541 88 3

Lafayette Elementary School

  • Education Level: Primary
  • # of students: 712
  • # of teachers: 41
7
GreatSchools Rating

Harnett Central Middle School

  • Education Level: Middle
  • # of students: 1,197
  • # of teachers: 77
3
GreatSchools Rating

Harnett Central High School

  • Education Level: High
  • # of students: 1,541
  • # of teachers: 88
3
GreatSchools Rating
 

$245,700$300,300$273,000

PURCHASE PRICE

$1,503$1,837$1,670

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,670
EXPENSES Loan Payment -$1,007
Property Tax -$181
Property Insurance -$72
Property Management Fees -$119
CASH FLOW
$291

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$273,000

PROJECTED PRICE

$1,670

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 5.1%
Maintenance Year (1-5) 8.00%
Vacancy 7.49%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

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$78,095

INVESTMENT

$78,095

Down Payment
$68,250
Rehab Estimate
$5,750
Closing Costs
$4,095

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,007

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $68,250
Loan Amount $204,750
See What Happens When You Reinvest Cash Flow

11.33

YEARS SAVED

$53,948

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,670

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $1,781

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,670
1$1,6702$1,800
$1,800
RENT COMPS ANALYSIS
  • 223 Donnibrook Run Fuquay Varina, NC 1
    • 3 beds 3 baths ∙ 2,283 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,283 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,670
    • $0.73
    •  
  • 133 Teaser Drive Fuquay Varina, NC 2
    • 4 beds 3 baths ∙ 2,293 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,293 Sqft ∙ Built 2020
    LEASED 11/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.78
    •  
PROPERTY LISTING DETAILS
Logan Hawley
1.910.892.0434
Secu*re Inc.
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2359586
Last Updated: 12/31/2020
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