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229 Breezemont Drive Fuquay Varina, NC 27526

4 Beds 3 Baths 1,920 sqft Built 2012

$299,900

List Price

$1,570

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2012
  • Price/Sqft : $156.20
  • 3 Days on Market
  • MLS # : 2371739
  • Updated Date : 03/12/2021 at 15:17
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,920 sqft
  • Baths : 2 full , 1 half
Listing Agent

Weichert Realtors-triangle

Listing Agent's Description

Make this one yours!! 4 Bed ( Master down) 2.5 Bath- Fenced Yard- 2 car Garage- New A/C- Granite-Hardwoods-Bright and Sunny- Ring doorbell- Right House-Right Location- Open Floor Plan- convenient to Shopping-Schools- Highways This one will go quickly!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Ashfield Village

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $132k359k

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

Neighborhood: Ashfield Village

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2100011001200130014001500160017001800Rent in $9501873

* 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
Herbert Akins Road Elementary School Primary Regular 966 57 6
Holly Grove Middle School Middle Regular 1,439 81 8
Fuquay-varina High School High Regular 2,117 114 7

Herbert Akins Road Elementary School

  • Education Level: Primary
  • # of students: 966
  • # of teachers: 57
6
GreatSchools Rating

Holly Grove Middle School

  • Education Level: Middle
  • # of students: 1,439
  • # of teachers: 81
8
GreatSchools Rating

Fuquay-varina High School

  • Education Level: High
  • # of students: 2,117
  • # of teachers: 114
7
GreatSchools Rating
 

$269,910$329,890$299,900

PURCHASE PRICE

$1,413$1,727$1,570

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,570
EXPENSES Loan Payment -$1,042
Property Tax -$240
Property Insurance -$65
HOA -$30
Property Management Fees -$119
CASH FLOW
$75

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.

$299,900

PROJECTED PRICE

$1,570

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.33%
Appreciation Year (1-5) 5.2%
Maintenance Year (1-5) 8.00%
Vacancy 7.51%
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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,224

INVESTMENT

$85,224

Down Payment
$74,975
Rehab Estimate
$5,750
Closing Costs
$4,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,042

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $74,975
Loan Amount $224,925
See What Happens When You Reinvest Cash Flow

7.42

YEARS SAVED

$27,918

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,570

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $1,541

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,570
1$1,5702$1,5953$1,5954$1,7005$1,750
$1,750
RENT COMPS ANALYSIS
  • 229 Breezemont Drive Fuquay Varina, NC 1
    • 4 beds 3 baths ∙ 1,920 Sqft ∙ Built 2012 4 beds 3 baths ∙ 1,920 Sqft ∙ Built 2012
    • Rent
    • Rent Per SQFT
    •  
    • $1,570
    • $0.82
    •  
  • 1408 Forest Fern Lane Fuquay Varina, NC 2
    • 3 beds 3 baths ∙ 1,938 Sqft ∙ Built 2016 3 beds 3 baths ∙ 1,938 Sqft ∙ Built 2016
    LEASED 10/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.82
    •  
  • 2034 Woodwater Drive Fuquay Varina, NC 3
    • 3 beds 2 baths ∙ 1,930 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,930 Sqft ∙ Built 2006
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.83
    •  
  • 2507 Girvan Drive Fuquay Varina, NC 4
    • 4 beds 3 baths ∙ 2,200 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,200 Sqft ∙ Built 2015
    LEASED 02/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.77
    •  
  • 112 Dunster Drive Fuquay Varina, NC 5
    • 4 beds 3 baths ∙ 2,205 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,205 Sqft ∙ Built 2020
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.79
    •  
PROPERTY LISTING DETAILS
Rich Baumgarten
1.919.413.1729
Weichert Realtors-triangle
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2371739
Last Updated: 03/12/2021
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