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241 Hardaway Point Clayton, NC 27527

3 Beds 2 Baths 1,655 sqft Built 2014

$290,000

List Price

$1,500

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $175.23
  • 4 Days on Market
  • MLS # : 2368824
  • Updated Date : 02/25/2021 at 21:29
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,655 sqft
  • Baths : 2 full
Listing Agent

Hometowne Realty

Listing Agent's Description

**COMING SOON** Desirable RANCH floorplan home w/bonus room upstairs! Open floor plan home in Riverwood Athletic Club with 3 bedrooms on the 1st floor. Granite countertops, island & upgraded kitchen cabinets. 1 year old Hydrofit swim Spa & large entertaining deck. Move in ready home that won't last long!!

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: Riverwood Athletic Club

NeighborhoodNIR Market*CityMarket2010Year20002019130k140k150k160k170k180k190k200k210k220k230k240k250k260kPrice in $123k265k

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

Neighborhood: Riverwood Athletic Club

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
Riverwood Elementary School Primary Regular 837 49 6
Riverwood Middle School Middle Regular 1,149 64 7
Corinth Holders High School High Regular 1,679 91 5

Riverwood Elementary School

  • Education Level: Primary
  • # of students: 837
  • # of teachers: 49
6
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
 

$261,000$319,000$290,000

PURCHASE PRICE

$1,350$1,650$1,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,500
EXPENSES Loan Payment -$1,007
Property Tax -$298
Property Insurance -$59
HOA -$72
Property Management Fees -$119
CASH FLOW
-$55

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.

$290,000

PROJECTED PRICE

$1,500

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 4.3%
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-$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$82,600

INVESTMENT

$82,600

Down Payment
$72,500
Rehab Estimate
$5,750
Closing Costs
$4,350

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,007

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $72,500
Loan Amount $217,500
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$11,993

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,500

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,444

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5503$1,5754$1,5955$1,625
$1,625
RENT COMPS ANALYSIS
  • 241 Hardaway Point Clayton, NC 1
    • 3 beds 2 baths ∙ 1,655 Sqft ∙ Built 2014 3 beds 2 baths ∙ 1,655 Sqft ∙ Built 2014
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.91
    •  
  • 216 S Kramer Path Clayton, NC 2
    • 3 beds 3 baths ∙ 1,751 Sqft ∙ Built 2020 3 beds 3 baths ∙ 1,751 Sqft ∙ Built 2020
    property image
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.89
    •  
  • 257 Pearson Place Clayton, NC 3
    • 4 beds 3 baths ∙ 1,850 Sqft ∙ Built 2019 4 beds 3 baths ∙ 1,850 Sqft ∙ Built 2019
    property image
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.85
    •  
  • 104 N Kramer Path Clayton, NC 4
    • 4 beds 3 baths ∙ 1,832 Sqft ∙ Built 2020 4 beds 3 baths ∙ 1,832 Sqft ∙ Built 2020
    property image
    LEASED 04/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.87
    •  
  • 308 Pearson Place Clayton, NC 5
    • 4 beds 3 baths ∙ 1,850 Sqft ∙ Built 2019 4 beds 3 baths ∙ 1,850 Sqft ∙ Built 2019
    property image
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.88
    •  
PROPERTY LISTING DETAILS
Diana May
1.919.608.7702
Hometowne Realty
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2368824
Last Updated: 02/25/2021
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