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228 Belair Lane Wellford, SC 29385

3 Beds 2 Baths - sqft Built 1965

$165,000

List Price

$1,180

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

January 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1965
  • Price/Sqft : $120.44
  • 5 Days on Market
  • MLS # : 1434578
  • Updated Date : 01/06/2021 at 19:15
CONSTRUCTION
  • Beds : 3
  • Floor Size : '-'
  • Baths : 2 full
Listing Agent

North Group Real Estate

Listing Agent's Description

Approx. 1400 sq. ft. 3 bedroom, 2 bath ranch on 1/2 acre. Home was built in 1965 and is on a crawl space foundation with fenced in back yard. Carport is in rear of home. Home has been partially renovated, and the exterior brick was painted recently. Kitchen was redone in 2019. All windows except one were replaced in 2020. Combination of hardwood, laminate and ceramic tile flooring. HVAC equiptment was replaced in 2020. Gas heat and electric AC. Electric hot water heater is in crawl space. Fairly flat lot close to Hwy 29 and 85. No active HOA or CCR's on record with county. Agent is related to seller.

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PRICE & RENT TRENDS

Zip Code: 29385

ZipNIR Market*CityMarket2010Year2000201960k70k80k90k100k110k120k130k140kPrice in $53k149k

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

Zip Code: 29385

ZipNIR Market*CityMarket2010Year20002019 Q2600700800900100011001200Rent in $5141261

* 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
Beech Springs Intermediate School Primary Regular 594 41 7
Beech Springs Intermediate School Middle Regular 594 41 7
James F. Byrnes Freshman Academy High Regular 608 32 7

Beech Springs Intermediate School

  • Education Level: Primary
  • # of students: 594
  • # of teachers: 41
7
GreatSchools Rating

Beech Springs Intermediate School

  • Education Level: Middle
  • # of students: 594
  • # of teachers: 41
7
GreatSchools Rating

James F. Byrnes Freshman Academy

  • Education Level: High
  • # of students: 608
  • # of teachers: 32
7
GreatSchools Rating
 

$148,500$181,500$165,000

PURCHASE PRICE

$1,062$1,298$1,180

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,180
EXPENSES Loan Payment -$573
Property Tax -$280
Property Insurance -$52
Property Management Fees -$94
CASH FLOW
$180

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.

$165,000

PROJECTED PRICE

$1,180

PROJECTED RENT

0.72%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.52%
Appreciation Year (1-5) 4.4%
Maintenance Year (1-5) 8.00%
Vacancy 7.90%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$49,475

INVESTMENT

$49,475

Down Payment
$41,250
Rehab Estimate
$5,750
Closing Costs
$2,475

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$573

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $41,250
Loan Amount $123,750
See What Happens When You Reinvest Cash Flow

9

YEARS SAVED

$20,589

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,180

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,151

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,180
1$1,1802$1,250
$1,250
RENT COMPS ANALYSIS
* Sqft is provided from public sources
  • 228 Belair Lane Wellford, SC 1
    • 3 beds 2 baths ∙ 1,370 Sqft ∙ Built 1965 3 beds 2 baths ∙ 1,370 Sqft ∙ Built 1965
    • Rent
    • Rent Per SQFT
    •  
    • $1,180
    • $0.86
    •  
  • 407 Jem Court Wellford, SC 2
    • 3 beds 2 baths ∙ 1,488 Sqft ∙ Built 3 beds 2 baths ∙ 1,488 Sqft ∙ Built
    LEASED 12/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.84
    •  
PROPERTY LISTING DETAILS
Daniel Hoard
1.864.884.5075
North Group Real Estate
Lauren Taylor
1.866.250.5610
Homeunion SC LLC
21064
( GGARMLS)
MLS #: 1434578
Last Updated: 01/06/2021
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