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255 San Periro Drive #256 Ryder Clayton, NC 27527

3 Beds 2 Baths 1,639 sqft Built 2020

$285,900

List Price

$1,380

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
January 02, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $174.44
  • 2 Days on Market
  • MLS # : 2359740
  • Updated Date : 01/02/2021 at 15:36
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,639 sqft
  • Baths : 2 full
Listing Agent

Terramor Homes

Listing Agent's Description

Enjoy one level living in our cute and functional Ryder plan! Grand Foyer leads to the open concept Kitchen Living area overlooking the Backyard. Enjoy nights in front of the Fireplace or on the Screened Patio. Two Guest Bedrooms, a Full Bath and a Huge Owner's Suite make this home a perfect choice! Our Inspired Design Package features White Cabinets, Granite Countertops, Tile Backsplash, Hardwood Laminate, and much more. Don't miss your chance to live in this booming community!

SEE MORE

MARKET HIGHLIGHTS

  • #7 Best Big City for Jobs 2018 (Forbes, 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
  • 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)

PRICE & RENT TRENDS

Zip Code: 27527

ZipNIR Market*CityMarket2010Year20002019140k150k160k170k180k190k200k210k220k230k240k250k260kPrice in $131k265k

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

Zip Code: 27527

ZipNIR Market*CityMarket2010Year2000 Q22019 Q295010001050110011501200125013001350140014501500155016001650Rent in $9461678

* 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
Archer Lodge Middle School Middle Regular 1,058 62 4
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

Archer Lodge Middle School

  • Education Level: Middle
  • # of students: 1,058
  • # of teachers: 62
4
GreatSchools Rating

Corinth Holders High School

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

$257,310$314,490$285,900

PURCHASE PRICE

$1,242$1,518$1,380

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,380
EXPENSES Loan Payment -$1,055
Property Tax -$193
Property Insurance -$59
HOA -$60
Property Management Fees -$119
CASH FLOW
-$106

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$285,900

PROJECTED PRICE

$1,380

PROJECTED RENT

0.48%

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) 3.00%
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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$77,764

INVESTMENT

$77,764

Down Payment
$71,475
Rehab Estimate
$2,000
Closing Costs
$4,289

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,055

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $71,475
Loan Amount $214,425
See What Happens When You Reinvest Cash Flow

3.92

YEARS SAVED

$12,204

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,380

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,397

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,380
1$1,3802$1,3953$1,4954$1,5255$1,600
$1,600
RENT COMPS ANALYSIS
  • 255 San Periro Drive Clayton, NC 1
    • 3 beds 2 baths ∙ 1,639 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,639 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,380
    • $0.84
    •  
  • 190 Wrenwood Drive Clayton, NC 2
    • 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
    •  
  • 64 Sundew Court Clayton, NC 3
    • 3 beds 3 baths ∙ 1,800 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,800 Sqft ∙ Built 2004
    property image
    LEASED 03/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.83
    •  
  • 5 Valleyfield Drive Clayton, NC 4
    • 3 beds 3 baths ∙ 1,760 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,760 Sqft ∙ Built 2007
    property image
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.87
    •  
  • 29 Stornoway Lane Clayton, NC 5
    • 4 beds 3 baths ∙ 1,929 Sqft ∙ Built 2019 4 beds 3 baths ∙ 1,929 Sqft ∙ Built 2019
    property image
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.83
    •  
PROPERTY LISTING DETAILS
Clark Brantley
1.919.215.7853
Terramor Homes
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2359740
Last Updated: 01/02/2021
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