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240 Marilyn Circle Cary, NC 27513

3 Beds 2 Baths 1,330 sqft Built 1962

$300,000

List Price

$1,270

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1962
  • Price/Sqft : $225.56
  • 3 Days on Market
  • MLS # : 2369081
  • Updated Date : 02/26/2021 at 22:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,330 sqft
  • Baths : 2 full
Listing Agent

Trublu Realty

Listing Agent's Description

RARE FIND! In the Heart of Cary. Renovated one-level brick ranch in quiet, established neighborhood. Fantastic .49 acre wooded lot! Refinished hardwds, fresh paint, Open kitchen, dining, living. Rocking chair frnt porch, Scrned porch & extra storage. HVAC 2019, Plumbing replaced with Pex. Sealed crawl space. Carport. Low maintenance, native garden beds & natural landscaping. Pre-inspected & most repairs made. Move-in ready!

SEE MORE

MARKET HIGHLIGHTS

  • #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)
  • 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: Triangle Forest

NeighborhoodNIR Market*CityMarket2010Year20002019160k180k200k220k240k260k280k300k320k340k360k380kPrice in $151k385k

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

Neighborhood: Triangle Forest

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2110012001300140015001600170018001900Rent in $10271978

* 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
Laurel Park Elementary School Primary Regular 988 59 7
Salem Middle School Middle Regular 1,238 76 7
Cary High School High Regular 2,396 135 7

Laurel Park Elementary School

  • Education Level: Primary
  • # of students: 988
  • # of teachers: 59
7
GreatSchools Rating

Salem Middle School

  • Education Level: Middle
  • # of students: 1,238
  • # of teachers: 76
7
GreatSchools Rating

Cary High School

  • Education Level: High
  • # of students: 2,396
  • # of teachers: 135
7
GreatSchools Rating
 

$270,000$330,000$300,000

PURCHASE PRICE

$1,143$1,397$1,270

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,270
EXPENSES Loan Payment -$1,042
Property Tax -$216
Property Insurance -$53
Property Management Fees -$119
CASH FLOW
-$160

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.

$300,000

PROJECTED PRICE

$1,270

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.33%
Appreciation Year (1-5) 4.9%
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$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% 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 $75,000
Loan Amount $225,000
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$9,044

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,270

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,264

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,270
1$1,2702$1,3003$1,4504$1,4755$1,495
$1,495
RENT COMPS ANALYSIS
  • 240 Marilyn Circle Cary, NC 1
    • 3 beds 2 baths ∙ 1,330 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,330 Sqft ∙ Built 1962
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,270
    • $0.95
    •  
  • 107 Mcdole Circle Cary, NC 2
    • 3 beds 2 baths ∙ 1,407 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,407 Sqft ∙ Built 1979
    property image
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.92
    •  
  • 901 Medlin Road Cary, NC 3
    • 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1977
    property image
    LEASED 04/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.97
    •  
  • 901 Medlin Drive Cary, NC 4
    • 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1977
    property image
    LEASED 12/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.98
    •  
  • 1401 Tarbert Drive Cary, NC 5
    • 3 beds 3 baths ∙ 1,600 Sqft ∙ Built 1978 3 beds 3 baths ∙ 1,600 Sqft ∙ Built 1978
    property image
    LEASED 04/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.93
    •  
PROPERTY LISTING DETAILS
Andy Leyva
1.919.904.2291
Trublu Realty
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2369081
Last Updated: 02/26/2021
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