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224 Heatherly Drive Greenville, SC 29611

4 Beds 2 Baths - sqft Built 1955

$179,000

List Price

$1,170

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1955
  • Price/Sqft : $105.23
  • 18 Days on Market
  • MLS # : 1433735
  • Updated Date : 12/31/2020 at 15:39
CONSTRUCTION
  • Beds : 4
  • Floor Size : '-'
  • Baths : 2 full
Listing Agent

Bhhs C Dan Joyner - Anderson

Listing Agent's Description

Welcome to 224 Heatherly Drive. A quiet street just on the outskirts of Downtown Greenville. Primary residence? Addition to a rental portfolio? YES! YES! This home is exactly what you're looking for in any context. Enter the front door off the covered front patio into the foyer which leads you into the sizable living room with wood burning fireplace and original hardwood floors. The spacious dining room leads into the kitchen where all appliances remain as a courtesy to the buyer. An office/receiving area hold the laundry room and leads into two of the four bedroom with custom closetry. Down the main hallway, don't miss the secondary bathroom and bedroom with original hardwood. The owner's suite is so spacious and boasts a large walk-in custom closet and full bathroom. Off the owner's suite, imagine walking out onto the brand new deck and into your fully-fenced, private backyard. Two storage building and fire pit patio offer function and plenty of opportunity to entertain, downtown Greenville style. Property has been tastefully updated and freshly painted on the interior, has brand new luxury vinyl tile, and new vinyl, tile-out window throughout. This home is seconds from its zoned elementary school and a short distance to all the night life that Greenville has to offer. Welcome home... to Heatherly Drive.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Judson

NeighborhoodNIR Market*CityMarket2010Year2000201940k60k80k100k120k140k160k180kPrice in $40k190k

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

Neighborhood: Judson

NeighborhoodNIR Market*CityMarket2010Year20002019 Q26007008009001000110012001300Rent in $5461383

* 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
Hollis Academy Primary Regular 647 46 4
Berea Middle School Middle Regular 676 45 3
Carolina High School High Magnet 733 51 1

Hollis Academy

  • Education Level: Primary
  • # of students: 647
  • # of teachers: 46
4
GreatSchools Rating

Berea Middle School

  • Education Level: Middle
  • # of students: 676
  • # of teachers: 45
3
GreatSchools Rating

Carolina High School

  • Education Level: High
  • # of students: 733
  • # of teachers: 51
1
GreatSchools Rating
 

$161,100$196,900$179,000

PURCHASE PRICE

$1,053$1,287$1,170

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,170
EXPENSES Loan Payment -$660
Property Tax -$321
Property Insurance -$58
Property Management Fees -$94
CASH FLOW
$37

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.

$179,000

PROJECTED PRICE

$1,170

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 7.3%
Maintenance Year (1-5) 8.00%
Vacancy 6.48%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$53,185

INVESTMENT

$53,185

Down Payment
$44,750
Rehab Estimate
$5,750
Closing Costs
$2,685

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$660

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $44,750
Loan Amount $134,250
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$9,659

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,170

    LIST RENT
  • $0.69

    LIST RENT PER SQFT
  • $1,276

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$1,170
1$1,1702$1,1953$1,295
$1,295
RENT COMPS ANALYSIS
* Sqft is provided from public sources
  • 224 Heatherly Drive Greenville, SC 1
    • 4 beds 2 baths ∙ 1,701 Sqft ∙ Built 1955 4 beds 2 baths ∙ 1,701 Sqft ∙ Built 1955
    • Rent
    • Rent Per SQFT
    •  
    • $1,170
    • $0.69
    •  
  • 1 S Piedmont Avenue Greenville, SC 2
    • 4 beds 2 baths ∙ 1,731 Sqft ∙ Built 4 beds 2 baths ∙ 1,731 Sqft ∙ Built
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $0.69
    •  
  • 112 Aloha Drive Greenville, SC 3
    • 4 beds 3 baths ∙ 1,590 Sqft ∙ Built 4 beds 3 baths ∙ 1,590 Sqft ∙ Built
    LEASED 05/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.81
    •  
PROPERTY LISTING DETAILS
Jesse Winchester
1.864.616.9126
Bhhs C Dan Joyner - Anderson
Lauren Taylor
1.866.250.5610
Homeunion SC LLC
21064
( GGARMLS)
MLS #: 1433735
Last Updated: 12/31/2020
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