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279 Tuscarora Lane Clayton, NC 27520

3 Beds 3 Baths 1,575 sqft Built 2006

$229,900

List Price

$1,430

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $145.97
  • 4 Days on Market
  • MLS # : 2353301
  • Updated Date : 11/14/2020 at 22:19
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,575 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty

Listing Agent's Description

Great home located in desirable Lions Gate Community. A short walk to the Clayton Community center, the community pool with lazy river and awesome gym! New carpet and paint throughout. Freshly stained deck and private back yard. Refrigerator, washer and dryer convey. Home warranty to be paid by the seller. All yard maintenance included with HOA.

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
  • #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)

PRICE & RENT TRENDS

Neighborhood: Lionsgate

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $107k265k

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

Neighborhood: Lionsgate

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2900100011001200130014001500Rent in $8231595

* 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
West Clayton Elementary School Primary Regular 902 58 6
Clayton Middle School Middle Regular 793 49 4
Clayton High School High Regular 1,512 85 5

West Clayton Elementary School

  • Education Level: Primary
  • # of students: 902
  • # of teachers: 58
6
GreatSchools Rating

Clayton Middle School

  • Education Level: Middle
  • # of students: 793
  • # of teachers: 49
4
GreatSchools Rating

Clayton High School

  • Education Level: High
  • # of students: 1,512
  • # of teachers: 85
5
GreatSchools Rating
 

$206,910$252,890$229,900

PURCHASE PRICE

$1,287$1,573$1,430

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,430
EXPENSES Loan Payment -$848
Property Tax -$236
Property Insurance -$58
HOA -$108
Property Management Fees -$129
CASH FLOW
$51

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.

$229,900

PROJECTED PRICE

$1,430

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 3.7%
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$100k$200k$300k$400k$500k$600k$700k

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$66,674

INVESTMENT

$66,674

Down Payment
$57,475
Rehab Estimate
$5,750
Closing Costs
$3,449

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$848

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $57,475
Loan Amount $172,425
See What Happens When You Reinvest Cash Flow

5.25

YEARS SAVED

$15,319

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,430

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,516

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,375
1$1,3752$1,4303$1,4504$1,4505$1,625
$1,625
RENT COMPS ANALYSIS
  • 279 Tuscarora Lane Clayton, NC 2
    • 3 beds 3 baths ∙ 1,575 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,575 Sqft ∙ Built 2006
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,430
    • $0.91
    •  
  • 48 Scotch Bonnet Ridge Clayton, NC 1
    • 3 beds 3 baths ∙ 1,400 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,400 Sqft ∙ Built 2007
    property image
    LEASED 01/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.98
    •  
  • 185 Sioux Lane Clayton, NC 3
    • 3 beds 3 baths ∙ 1,460 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,460 Sqft ∙ Built 2006
    property image
    LEASED 10/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.99
    •  
  • 134 W Lumber Street Clayton, NC 4
    • 3 beds 3 baths ∙ 1,525 Sqft ∙ Built 2019 3 beds 3 baths ∙ 1,525 Sqft ∙ Built 2019
    property image
    LEASED 10/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.95
    •  
  • 236 Verrazano Place Clayton, NC 5
    • 3 beds 3 baths ∙ 1,750 Sqft ∙ Built 2014 3 beds 3 baths ∙ 1,750 Sqft ∙ Built 2014
    property image
    LEASED 05/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.93
    •  
PROPERTY LISTING DETAILS
Tammy Eickhoff
1.919.610.2366
Keller Williams Realty
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2353301
Last Updated: 11/14/2020
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