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236 Vinson Ridge Lane Clayton, NC 27527

3 Beds 2 Baths 1,706 sqft Built 2003

$250,000

List Price

$1,400

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $146.54
  • 7 Days on Market
  • MLS # : 2373518
  • Updated Date : 03/27/2021 at 16:26
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,706 sqft
  • Baths : 2 full
Listing Agent

Fathom Realty Nc, Llc

Listing Agent's Description

Lovely ranch on a cul-de-sac, rocking chair front porch. Side entry two car garage, kitchen with quartz countertops, open floor plan, cathedral ceilings in living room, split bedrooms, large owners suite with Jetted Tub. Large rear porch . Home sits on a .44 acre lot. Desirable area, minutes from the new Publix in Flowers plantation.

SEE MORE

MARKET HIGHLIGHTS

  • Major employers in Raleigh area: IBM, Cisco systems, Fidelity Investments, GlaxoSmithKline, RTI International
  • #7 Best Big City for Jobs 2018 (Forbes, 2018)
  • 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)
  • 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

PRICE & RENT TRENDS

Neighborhood: Neuse Haven Estates

NeighborhoodNIR Market*CityMarket2010Year20002019140k150k160k170k180k190k200k210k220k230k240k250k260kPrice in $131k265k

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

Neighborhood: Neuse Haven Estates

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2950100010501100115012001250130013501400145015001550Rent in $9461595

* 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
East Clayton Elementary School Primary Regular 563 39 5
Riverwood Middle School Middle Regular 1,149 64 7
Corinth Holders High School High Regular 1,679 91 5

East Clayton Elementary School

  • Education Level: Primary
  • # of students: 563
  • # of teachers: 39
5
GreatSchools Rating

Riverwood Middle School

  • Education Level: Middle
  • # of students: 1,149
  • # of teachers: 64
7
GreatSchools Rating

Corinth Holders High School

  • Education Level: High
  • # of students: 1,679
  • # of teachers: 91
5
GreatSchools Rating
 

$225,000$275,000$250,000

PURCHASE PRICE

$1,260$1,540$1,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,400
EXPENSES Loan Payment -$868
Property Tax -$164
Property Insurance -$59
HOA -$37
Property Management Fees -$119
CASH FLOW
$152

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$250,000

PROJECTED PRICE

$1,400

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 3.6%
Maintenance Year (1-5) 8.00%
Vacancy 7.49%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$72,000

INVESTMENT

$72,000

Down Payment
$62,500
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$868

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $62,500
Loan Amount $187,500
See What Happens When You Reinvest Cash Flow

8.67

YEARS SAVED

$29,745

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,400

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,419

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,4003$1,5904$1,5955$1,700
$1,700
RENT COMPS ANALYSIS
  • 236 Vinson Ridge Lane Clayton, NC 2
    • 3 beds 2 baths ∙ 1,650 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,650 Sqft ∙ Built 2003
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.85
    •  
  • 190 Wrenwood Drive Clayton, NC 1
    • 3 beds 3 baths ∙ 1,577 Sqft ∙ Built 2019 3 beds 3 baths ∙ 1,577 Sqft ∙ Built 2019
    property image
    LEASED 01/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.88
    •  
  • 385 Wrenwood Drive Clayton, NC 3
    • 3 beds 3 baths ∙ 1,985 Sqft ∙ Built 2019 3 beds 3 baths ∙ 1,985 Sqft ∙ Built 2019
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,590
    • $0.80
    •  
  • 205 Wrenwood Drive Clayton, NC 4
    • 3 beds 3 baths ∙ 1,760 Sqft ∙ Built 2019 3 beds 3 baths ∙ 1,760 Sqft ∙ Built 2019
    property image
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.91
    •  
  • 221 Wrenwood Drive Clayton, NC 5
    • 4 beds 3 baths ∙ 2,000 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,000 Sqft ∙ Built 2019
    property image
    LEASED 03/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.85
    •  
PROPERTY LISTING DETAILS
Rosa Munoz
1.919.901.5070
Fathom Realty Nc, Llc
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2373518
Last Updated: 03/27/2021
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