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251 Stewarts Landing Boiling Springs, SC 29316

3 Beds 3 Baths - sqft Built 2014

$249,999

List Price

$1,690

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

January 01, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $116.50
  • 3 Days on Market
  • MLS # : 1434373
  • Updated Date : 01/01/2021 at 15:20
CONSTRUCTION
  • Beds : 3
  • Floor Size : '-'
  • Baths : 2 full , 1 half
Listing Agent

Ponce Realty Group, Llc

Listing Agent's Description

ARE YOU READY TO OWN A FANTASTIC QUALITY BUILT HOUSE IN GLEN LAKE A GATED COMMUNITY LOCATED IN BOILING SPRINGS THAT IS CLOSE TO INTERSTATES, SHOPPING & RESTAURANTS AND INCLUDES YARD MAINTENANCE? If so you better act now before it’s GONE! This spectacular house will check all your boxes….FEATURING 2146 heated square feet plus a 12x12 SUNROOM not counted in the square footage with ceramic floor leading to large uncovered patio and privacy fenced backyard with walkout gate so you can access your rear line of trees, complete with full yard sprinkler system. This OPEN FLOOR PLAN is ENORMOUS in size with the perfect flow. The moment you step into the FOYER and admire the beautiful bead board ceiling, crown molding, chair rail &hardwood floor you will know this is HOME! The DINING ROOM offers hardwood floor, trey ceiling, crown molding, rope lighting, chair rail & triple window with transoms above. The dining room leads to the BUTLER’S PANTRY complete with pantry closet & across from the pantry is built in cabinets with granite top/backsplash that would make a perfect BAR AREA for entertaining. Straight ahead from the butler’s pantry is the KITCHEN of your DREAMS featuring 12’ ceiling, crown molding, rope lighting, recessed lighting, hardwood floor, chair rail, tons of wood cabinets with granite tops/backsplash, CENTER ISLAND & built-in desk area, breakfast nook & double window with transoms above. Straight ahead from the kitchen is the HUGE GREAT ROOM offering 12’ ceiling, crown molding, rope lighting, ceiling fan, hardwood floor, STONE GAS FIREPLACE from floor to ceiling, chair rail & double window with transoms above. Straight ahead from the great room is the SUNROOM that completes the living space. There is a HALF BATH with ceramic floor & pedestal sink that is perfect for guest. This is only the beginning of what this house has to offer the MASTER SUITE is HUGE with trey ceiling, crown molding, ceiling fan, recessed lights & triple window leading to MASTER BATH with ceramic floor, water closet, jetted tub, separate shower & double vanity with granite top and walk-in closet. The other TWO BEDROOMS are large and features carpet & ceiling fans with a FULL BATH close by. Mom will LOVE the LAUNDRY ROOM with utility sink, built-in cabinets and ceramic floor. The ATTACHED DOUBLE GARAGE has a pull down attic for storage & a yard door. TANKLESS natural gas hot water heater & heat pump/central air.GLEN LAKES is a gated community offering large pool, clubhouse, playgr

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PRICE & RENT TRENDS

Zip Code: 29316

ZipNIR Market*CityMarket2010Year2000201960k70k80k90k100k110k120k130k140k150k160kPrice in $58k160k

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

Zip Code: 29316

ZipNIR Market*CityMarket2010Year20002019 Q27008009001000110012001300Rent in $6031359

* 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
James H. Hendrix Elementary School Primary Regular 771 48 6
Boiling Springs Middle School Middle Regular 1,086 65 7
Boiling Springs 9th Grade Campus High Regular 618 33 7

James H. Hendrix Elementary School

  • Education Level: Primary
  • # of students: 771
  • # of teachers: 48
6
GreatSchools Rating

Boiling Springs Middle School

  • Education Level: Middle
  • # of students: 1,086
  • # of teachers: 65
7
GreatSchools Rating

Boiling Springs 9th Grade Campus

  • Education Level: High
  • # of students: 618
  • # of teachers: 33
7
GreatSchools Rating
 

$224,999$274,999$249,999

PURCHASE PRICE

$1,521$1,859$1,690

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,690
EXPENSES Loan Payment -$922
Property Tax -$429
Property Insurance -$67
Property Management Fees -$135
CASH FLOW
$137

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.

$249,999

PROJECTED PRICE

$1,690

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.52%
Appreciation Year (1-5) 5.2%
Maintenance Year (1-5) 8.00%
Vacancy 7.90%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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

$922

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,500
Loan Amount $187,499
See What Happens When You Reinvest Cash Flow

6.33

YEARS SAVED

$22,156

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,690

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $1,631

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,690
$1,690
RENT COMPS ANALYSIS
* Sqft is provided from public sources
  • 251 Stewarts Landing Boiling Springs, SC 2
    • 3 beds 3 baths ∙ 2,146 Sqft ∙ Built 2014 3 beds 3 baths ∙ 2,146 Sqft ∙ Built 2014
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $0.79
    •  
  • 536 Clairidge Drive Boiling Springs, SC 1
    • 4 beds 3 baths ∙ 2,052 Sqft ∙ Built 4 beds 3 baths ∙ 2,052 Sqft ∙ Built
    property image
    LEASED 12/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.76
    •  
PROPERTY LISTING DETAILS
Cindy Collins
1.864.809.5964
Ponce Realty Group, Llc
Lauren Taylor
1.866.250.5610
Homeunion SC LLC
21064
( GGARMLS)
MLS #: 1434373
Last Updated: 01/01/2021
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