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25 Lake Forest Court Four Oaks, NC 27524

3 Beds 2 Baths 1,997 sqft Built 2006

$279,800

List Price

$1,820

$1.6K - $2K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $140.11
  • 3 Days on Market
  • MLS # : 2361903
  • Updated Date : 01/15/2021 at 21:25
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,997 sqft
  • Baths : 2 full
Listing Agent

Wood Realty Group, Inc.

Listing Agent's Description

Beautiful & well maintained 3 bed/2 bath + finished bonus rm in great community 5 miles from I-40. #Interior features *hardwood floors in the foyer, family & dining *vaulted ceiling & gas logs in family rm *gorgeous kitchen w/ ss appliances, porcelain sink, tile back splash & brkfst area *sep dining rm *large owner suite w/ walk-in-closet, corner garden tub, tile shower & double sinks *bonus/flex room upstairs #Exterior boasts *dual purpose building, storage side & office side w/ hvac *deck *vast garage

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
  • 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)

PRICE & RENT TRENDS

Neighborhood: Lakewood Estates

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $96k265k

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

Neighborhood: Lakewood Estates

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q28009001000110012001300140015001600Rent in $7021618

* 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
Four Oaks Elementary School Primary Regular 1,078 77 5
Four Oaks Middle School Middle Regular 523 33 4
West Johnston High School High Regular 1,359 83 5

Four Oaks Elementary School

  • Education Level: Primary
  • # of students: 1,078
  • # of teachers: 77
5
GreatSchools Rating

Four Oaks Middle School

  • Education Level: Middle
  • # of students: 523
  • # of teachers: 33
4
GreatSchools Rating

West Johnston High School

  • Education Level: High
  • # of students: 1,359
  • # of teachers: 83
5
GreatSchools Rating
 

$251,820$307,780$279,800

PURCHASE PRICE

$1,638$2,002$1,820

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,820
EXPENSES Loan Payment -$972
Property Tax -$182
Property Insurance -$66
Property Management Fees -$119
CASH FLOW
$482

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.

$279,800

PROJECTED PRICE

$1,820

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 3.5%
Maintenance Year (1-5) 8.00%
Vacancy 7.47%
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$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,897

INVESTMENT

$79,897

Down Payment
$69,950
Rehab Estimate
$5,750
Closing Costs
$4,197

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$972

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $69,950
Loan Amount $209,850
See What Happens When You Reinvest Cash Flow

13.67

YEARS SAVED

$62,406

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,820

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,997

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,820
$1,820
RENT COMPS ANALYSIS
  • 25 Lake Forest Court Four Oaks, NC 2
    • 3 beds 2 baths ∙ 1,997 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,997 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,820
    • $0.91
    •  
  • 2195 Matthews Road Clayton, NC 1
    • 3 beds 2 baths ∙ 1,650 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,650 Sqft ∙ Built 2016
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.00
    •  
PROPERTY LISTING DETAILS
Ron Wood
1.919.616.3793
Wood Realty Group, Inc.
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2361903
Last Updated: 01/15/2021
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