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224 High Maple Court 
Holly Springs, NC
27540
3 Beds 3 Baths 1,813 sqft
Built 1998
INVESTimate
$299,000
List Price
$84,985
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PROPERTY INFO
FACTS
- Built In 1998
- Price/Sqft : $164.92
- 3 Days on Market
- MLS # : 2338946
- Updated Date : 08/25/2020 at 17:33
CONSTRUCTION
- Beds : 3
- Floor Size : 1,813 sqft
- Baths : 2 full , 1 half
Listing Agent
Opendoor Brokerage Llc
Listing Agent's Description
This Holly Springs two-story cul-de-sac home offers a one-car garage. This home is vacant and cleaned regularly.
SEE MORE
- 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)
- 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: Holly Glen
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Holly Glen
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,470 |
| EXPENSES | Loan Payment | -$1,103 |
| Property Tax | -$229 | |
| Property Insurance | -$63 | |
| HOA | -$55 | |
| Property Management Fees | -$132 | |
|
CASH FLOW
-$112
|
||
This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 16% of earned rent to cover both maintenance and periods of vacancy.
$299,000
PROJECTED PRICE
$1,470
PROJECTED RENT
0.49%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.33% |
| Appreciation Year (1-5) | 4.55% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 7.51% |
| Length of Stay Years | 2 |
TOTAL CASH OUT OF POCKET
INVESTMENT
$84,985
LOAN DETAILS
$1,103
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $74,750 |
| Loan Amount | $224,250 |
3.33
YEARS SAVED
$9,962
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,470
LIST RENT -
$0.81
LIST RENT PER SQFT
-
$1,487
COMP ESTIMATED VALUE -
$0.82
COMP AVG. RENT PER SQFT
Comps Range
-
224 High Maple Court Holly Springs, 2
- 3 beds 3 baths ∙ 1,813 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,813 Sqft ∙ Built 1998
- Rent
- Rent Per SQFT
- $1,470
- $0.81
-
213 Hornholly Way Holly Springs, 1
- 3 beds 3 baths ∙ 1,720 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,720 Sqft ∙ Built 1999
LEASED 10/25/19- Rent
- Rent Per SQFT
- $1,350
- $0.78
-
216 Braxman Lane Holly Springs, 3
- 3 beds 3 baths ∙ 1,912 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,912 Sqft ∙ Built 2006
LEASED 01/16/20- Rent
- Rent Per SQFT
- $1,500
- $0.78
-
409 Braxman Lane Holly Springs, 4
- 4 beds 2 baths ∙ 1,800 Sqft ∙ Built 2008 4 beds 2 baths ∙ 1,800 Sqft ∙ Built 2008
LEASED 03/23/20- Rent
- Rent Per SQFT
- $1,575
- $0.88
-
212 Braxcarr Street Holly Springs, 5
- 4 beds 3 baths ∙ 1,900 Sqft ∙ Built 2008 4 beds 3 baths ∙ 1,900 Sqft ∙ Built 2008
LEASED 07/01/20- Rent
- Rent Per SQFT
- $1,595
- $0.84
PROPERTY LISTING DETAILS
1.919.679.9883
Opendoor Brokerage Llc
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
MLS #: 2338946
Last Updated: 08/25/2020
