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282 Tuscan Ridge Drive Clayton, NC 27527

4 Beds 3 Baths 2,600 sqft Built 2018

$289,900

List Price

$1,720

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

November 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $111.50
  • 5 Days on Market
  • MLS # : 2353272
  • Updated Date : 11/12/2020 at 04:50
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,600 sqft
  • Baths : 2 full , 1 half
Listing Agent

Mike Woods Real Estate, Llc

Listing Agent's Description

RE-DESIGNED Cypress Creek floorpan! New carpet upstairs & paint concept through out. Formal dining room w updated lighting & tray ceiling. Large kitchen w updated lighting, granite countertops, ss appliances & large island, open to family room & sunroom. Luxurious master suite w private sitting area & fireplace. Spacious master bath hosts 2 huge walk-in closets & separate tub/shower. Large bedrooms w walk-in closets. When it comes to storage, living & entertaining space, this home checks all the boxes!

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

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
Riverwood Middle School Middle Regular 1,149 64 7
Clayton High School High Regular 1,512 85 5

East Clayton Elementary School

  • Education Level: Primary
  • # of students: 563
  • # of teachers: 39
5
GreatSchools Rating

Riverwood Middle School

  • Education Level: Middle
  • # of students: 1,149
  • # of teachers: 64
7
GreatSchools Rating

Clayton High School

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

$260,910$318,890$289,900

PURCHASE PRICE

$1,548$1,892$1,720

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,720
EXPENSES Loan Payment -$1,070
Property Tax -$195
Property Insurance -$78
HOA -$60
Property Management Fees -$155
CASH FLOW
$162

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.

$289,900

PROJECTED PRICE

$1,720

PROJECTED RENT

0.59%

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) 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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,574

INVESTMENT

$82,574

Down Payment
$72,475
Rehab Estimate
$5,750
Closing Costs
$4,349

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,070

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $72,475
Loan Amount $217,425
See What Happens When You Reinvest Cash Flow

7.5

YEARS SAVED

$33,106

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,720

    LIST RENT
  • $0.66

    LIST RENT PER SQFT
  • $1,736

    COMP ESTIMATED VALUE
  • $0.67

    COMP AVG. RENT PER SQFT
Comps Range
$1,625
1$1,6252$1,6953$1,7204$1,9455$2,000
$2,000
RENT COMPS ANALYSIS
  • 282 Tuscan Ridge Drive Clayton, NC 3
    • 4 beds 3 baths ∙ 2,600 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,600 Sqft ∙ Built 2018
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,720
    • $0.66
    •  
  • 73 Genoa Lane Clayton, NC 1
    • 5 beds 3 baths ∙ 2,482 Sqft ∙ Built 2012 5 beds 3 baths ∙ 2,482 Sqft ∙ Built 2012
    property image
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.65
    •  
  • 11 N Porcenna Lane Clayton, NC 2
    • 4 beds 3 baths ∙ 2,630 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,630 Sqft ∙ Built 2017
    property image
    LEASED 07/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.64
    •  
  • 205 Stornoway Lane Clayton, NC 4
    • 4 beds 3 baths ∙ 2,773 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,773 Sqft ∙ Built 2020
    property image
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,945
    • $0.70
    •  
  • 116 Rothes Court Clayton, NC 5
    • 4 beds 4 baths ∙ 2,945 Sqft ∙ Built 2019 4 beds 4 baths ∙ 2,945 Sqft ∙ Built 2019
    property image
    LEASED 09/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.68
    •  
PROPERTY LISTING DETAILS
Kristina Woods
1.919.724.8386
Mike Woods Real Estate, Llc
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2353272
Last Updated: 11/12/2020
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