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271 Kintyre Drive Clayton, NC 27520

3 Beds 2 Baths 1,908 sqft Built 2004

INVESTimate

$274,900

List Price

$1,590

$1,431 - $1,749

Rent Est.

$282,680  ( +2.83%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 2004
  • Price/Sqft : $144.08
  • 10 Days on Market
  • MLS # : 2337800
  • Updated Date : 08/18/2020 at 22:36
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,908 sqft
  • Baths : 2 full
Listing Agent

Howard Perry And Walston Realtor

Listing Agent's Description

This gorgeous ranch plan home features a large front porch perfect for rocking chairs, partially covered deck, plus hardwood floors, crown molding, and plantation shutters throughout the whole house. In addition to 3 bedrooms is a study/office, or a playroom/homeschool room. The entire second story is yours to build as you imagine! Plumbing is already roughed-in for the bathroom along with a fiberglass tub that is installed. There's plenty of room for at least 2 more bedrooms and super large bonus room!

SEE MORE

MARKET HIGHLIGHTS

  • 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
  • #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)

PRICE & RENT TRENDS

Neighborhood: Broadmoor

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $131k333k

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

Neighborhood: Broadmoor

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2100011001200130014001500160017001800Rent in $9461873

* 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
Cleveland Elementary School Primary Regular 835 49 6
Cleveland Middle School Middle Regular 1,163 64 7
Cleveland High School High Regular 1,468 80 6

Cleveland Elementary School

  • Education Level: Primary
  • # of students: 835
  • # of teachers: 49
6
GreatSchools Rating

Cleveland Middle School

  • Education Level: Middle
  • # of students: 1,163
  • # of teachers: 64
7
GreatSchools Rating

Cleveland High School

  • Education Level: High
  • # of students: 1,468
  • # of teachers: 80
6
GreatSchools Rating
 

$247,410$302,390$274,900

PURCHASE PRICE

$1,431$1,749$1,590

RENT

DOWN PAYMENT
FINANCING

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$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,590
EXPENSES Loan Payment -$1,014
Property Tax -$178
Property Insurance -$64
HOA -$7
Property Management Fees -$143
CASH FLOW
$183

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.

$274,900

PROJECTED PRICE

$1,590

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 2.83%
Maintenance Year (1-5) 8.00%
Vacancy 7.49%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,599

INVESTMENT

$78,599

Down Payment
$68,725
Rehab Estimate
$5,750
Closing Costs
$4,124

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,014

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $68,725
Loan Amount $206,175
See What Happens When You Reinvest Cash Flow

8.33

YEARS SAVED

$36,100

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,590

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,615

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,475
1$1,4752$1,5903$1,6454$1,695
$1,695
RENT COMPS ANALYSIS
  • 271 Kintyre Drive Clayton, 2
    • 3 beds 2 baths ∙ 1,908 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,908 Sqft ∙ Built 2004
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,590
    • $0.83
    •  
  • 404 Hunting Lodge Road Clayton, 1
    • 3 beds 2 baths ∙ 1,725 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,725 Sqft ∙ Built 1992
    property image
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.86
    •  
  • 197 Great Oak Drive Garner, 3
    • 3 beds 3 baths ∙ 1,951 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,951 Sqft ∙ Built 2005
    property image
    LEASED 07/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,645
    • $0.84
    •  
  • 146 Winding Oak Way Clayton, 4
    • 4 beds 3 baths ∙ 2,026 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,026 Sqft ∙ Built 2015
    property image
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.84
    •  
PROPERTY LISTING DETAILS
Jennifer Franklin-rowe
1.919.633.5656
Howard Perry And Walston Realtor
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2337800
Last Updated: 08/18/2020
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