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224 Forrester Creek Way Greenville, SC 29607

4 Beds 4 Baths - sqft Built 1989

$299,000

List Price

$1,750

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $119.89
  • 88 Days on Market
  • MLS # : 1428036
  • Updated Date : 12/19/2020 at 12:05
CONSTRUCTION
  • Beds : 4
  • Floor Size : '-'
  • Baths : 3 full , 1 half
Listing Agent

Bhhs C Dan Joyner - N. Pleas

Listing Agent's Description

New price! Priced to sell! Don't miss out on a great opportunity to make this beautiful home yours! Located on a family friendly cul-de-sac in the popular neighborhood of Forrester Creek, offering quick access to popular schools, close proximity to shopping and restaurants on Woodruff Rd, and easy entrance to the interstates. This is a meticulously maintained 4 bedroom, 3 ½ bath home on a generously sized lot with a private wooded backyard. The kitchen, with beautiful quartz countertops, opens to the breakfast nook and cozy den with a fireplace and built-in bookshelves. Walk through the French doors off the den to enter an inviting screened-in porch. The deck features space for entertaining and a hot tub, an outdoor oasis you will be proud to invite family and friends! Upstairs offers a large master bedroom with vaulted ceilings, full bath, and a walk-in closet. Next to the Master is a guest bedroom with an attached bath. The other two bedrooms are located down the hall next to the third full upstairs bath. The final room upstairs is perfect for an at-home office with a built-in desk and closet. Hot tub, playground equipment and storage building conveys at no charge! This is a great chance to be a part of the growth of the Mauldin area! Don't miss out on this rare find!

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PRICE & RENT TRENDS

Zip Code: 29607

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $85k240k

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

Zip Code: 29607

ZipNIR Market*CityMarket2010Year20002019 Q28009001000110012001300140015001600Rent in $7911653

* 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 Middle School Middle Regular 1,090 65 8
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 Middle School

  • Education Level: Middle
  • # of students: 1,090
  • # of teachers: 65
8
GreatSchools Rating

Mauldin High School

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

$269,100$328,900$299,000

PURCHASE PRICE

$1,575$1,925$1,750

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,750
EXPENSES Loan Payment -$1,103
Property Tax -$384
Property Insurance -$73
Property Management Fees -$140
CASH FLOW
$50

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.

$299,000

PROJECTED PRICE

$1,750

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.42%
Appreciation Year (1-5) 6.9%
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$200k$400k$600k$800k$1.0M

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$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$84,985

INVESTMENT

$84,985

Down Payment
$74,750
Rehab Estimate
$5,750
Closing Costs
$4,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,103

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $74,750
Loan Amount $224,250
See What Happens When You Reinvest Cash Flow

5.33

YEARS SAVED

$20,483

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,750

    LIST RENT
  • $0.7

    LIST RENT PER SQFT
  • $1,704

    COMP ESTIMATED VALUE
  • $0.68

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,5953$1,7504$1,850
$1,850
RENT COMPS ANALYSIS
* Sqft is provided from public sources
  • 224 Forrester Creek Way Greenville, SC 3
    • 4 beds 4 baths ∙ 2,494 Sqft ∙ Built 1989 4 beds 4 baths ∙ 2,494 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
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    • $1,750
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PROPERTY LISTING DETAILS
Becky Orders
1.864.270.0743
Bhhs C Dan Joyner - N. Pleas
Lauren Taylor
1.866.250.5610
Homeunion SC LLC
21064
( GGARMLS)
MLS #: 1428036
Last Updated: 12/19/2020
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