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2716 Rindlewood Court Fuquay Varina, NC 27526

3 Beds 2 Baths 1,805 sqft Built 2012

$290,000

List Price

$1,540

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2012
  • Price/Sqft : $160.66
  • 4 Days on Market
  • MLS # : 2368767
  • Updated Date : 02/27/2021 at 21:18
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,805 sqft
  • Baths : 2 full
Listing Agent

Grow Local Realty Llc

Listing Agent's Description

Absolutely amazing home!Well maintained 1.5 story,3 bed,2 ba home w/Bonus room.Family room with engineered hardwoods,gas log fireplace,cathedral ceiling,& tons of natural light opens to dining area with a large kitchen equipped w/gas stove,microwave,granite counters,backsplash,& pantry.Primary suite w/tray ceiling,walk-in closet,closet, dual vanity, tub sep/showerPrivate fenced in yard w/storage shed.9 ft ceilings on main floor.Pergola patio great for entertaining.Highest & Best due Sunday 2-28-21 by 5PM!

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: Willow Creek

NeighborhoodNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240k250k260kPrice in $120k265k

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

Neighborhood: Willow Creek

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q29001000110012001300140015001600Rent in $8711610

* 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
Willow Springs Elementary School Primary Regular 1,017 61 8
Fuquay-varina Middle School Middle Regular 819 55 4
Fuquay-varina High School High Regular 2,117 114 7

Willow Springs Elementary School

  • Education Level: Primary
  • # of students: 1,017
  • # of teachers: 61
8
GreatSchools Rating

Fuquay-varina Middle School

  • Education Level: Middle
  • # of students: 819
  • # of teachers: 55
4
GreatSchools Rating

Fuquay-varina High School

  • Education Level: High
  • # of students: 2,117
  • # of teachers: 114
7
GreatSchools Rating
 

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

PURCHASE PRICE

$1,386$1,694$1,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,540
EXPENSES Loan Payment -$1,007
Property Tax -$222
Property Insurance -$62
HOA -$8
Property Management Fees -$119
CASH FLOW
$121

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

$1,540

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 5.2%
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$200k$400k$600k$800k$1.0M

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$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 40% 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

7.67

YEARS SAVED

$28,958

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,540

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,575

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,325
1$1,3252$1,4503$1,5404$1,6955$1,750
$1,750
RENT COMPS ANALYSIS
  • 2716 Rindlewood Court Fuquay Varina, NC 3
    • 3 beds 2 baths ∙ 1,805 Sqft ∙ Built 2012 3 beds 2 baths ∙ 1,805 Sqft ∙ Built 2012
    • Rent
    • Rent Per SQFT
    •  
    • $1,540
    • $0.85
    •  
  • 204 N Honey Springs Avenue Fuquay Varina, NC 1
    • 3 beds 3 baths ∙ 1,500 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,500 Sqft ∙ Built 2001
    LEASED 01/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,325
    • $0.88
    •  
  • 1435 Sexton Ridge Drive Fuquay Varina, NC 2
    • 3 beds 3 baths ∙ 1,700 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,700 Sqft ∙ Built 2006
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.85
    •  
  • 1645 Lakestone Village Lane Fuquay Varina, NC 4
    • 3 beds 3 baths ∙ 1,851 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,851 Sqft ∙ Built 2007
    LEASED 01/27/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.92
    •  
  • 341 Wilbur Lake Drive Fuquay Varina, NC 5
    • 3 beds 3 baths ∙ 2,092 Sqft ∙ Built 2021 3 beds 3 baths ∙ 2,092 Sqft ∙ Built 2021
    LEASED 03/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.84
    •  
PROPERTY LISTING DETAILS
Kim Pendergrass
1.252.432.5691
Grow Local Realty Llc
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2368767
Last Updated: 02/27/2021
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