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2841 Mary Marvin Trail Fuquay Varina, NC 27526

4 Beds 3 Baths 2,304 sqft Built 2021

$300,000

List Price

$1,740

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $130.21
  • 6 Days on Market
  • MLS # : 2362400
  • Updated Date : 01/21/2021 at 00:55
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,304 sqft
  • Baths : 2 full , 1 half
Listing Agent

Exp Realty

Listing Agent's Description

You have found the needle in the haystack! New construction in Wake County, with tons of features, for $300,000! This contemporary farmhouse style home has everything you have been looking for. First floor master bedroom with spacious bath and large walk in closet oversized screened porch at the back, kitchen with center island, office/zoom room on first floor, large secondary bedrooms plus loft area on second floor. Nestled in an established neighborhood, small town charm w/urban convenience close by!

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)
  • #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)

PRICE & RENT TRENDS

Neighborhood: Tramwood

NeighborhoodNIR Market*CityMarket2010Year20002019140k150k160k170k180k190k200k210k220k230k240k250k260kPrice in $132k265k

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

Neighborhood: Tramwood

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q29501000105011001150120012501300135014001450150015501600Rent in $9251610

* 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
 

$270,000$330,000$300,000

PURCHASE PRICE

$1,566$1,914$1,740

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,740
EXPENSES Loan Payment -$1,042
Property Tax -$219
Property Insurance -$72
Property Management Fees -$119
CASH FLOW
$288

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.

$300,000

PROJECTED PRICE

$1,740

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 5.1%
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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

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$81,500

INVESTMENT

$81,500

Down Payment
$75,000
Rehab Estimate
$2,000
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 25% down payment or higher enables the proceeds from the asset to cover all costs.

$1,042

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $75,000
Loan Amount $225,000
See What Happens When You Reinvest Cash Flow

11.17

YEARS SAVED

$51,998

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,740

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $1,624

    COMP ESTIMATED VALUE
  • $0.71

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6503$1,7254$1,7405$1,750
$1,750
RENT COMPS ANALYSIS
  • 2841 Mary Marvin Trail Fuquay Varina, NC 4
    • 4 beds 3 baths ∙ 2,304 Sqft ∙ Built 2021 4 beds 3 baths ∙ 2,304 Sqft ∙ Built 2021
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,740
    • $0.76
    •  
  • 2130 Attend Crossing Fuquay Varina, NC 1
    • 4 beds 3 baths ∙ 2,350 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,350 Sqft ∙ Built 2020
    property image
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.70
    •  
  • 2137 Attend Crossing Fuquay Varina, NC 2
    • 4 beds 3 baths ∙ 2,350 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,350 Sqft ∙ Built 2020
    property image
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.70
    •  
  • 2110 Attend Crossing Fuquay Varina, NC 3
    • 4 beds 3 baths ∙ 2,483 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,483 Sqft ∙ Built 2020
    property image
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.69
    •  
  • 2011 Attend Crossing Fuquay Varina, NC 5
    • 4 beds 3 baths ∙ 2,400 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,400 Sqft ∙ Built 2020
    property image
    LEASED 08/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.73
    •  
PROPERTY LISTING DETAILS
John Simms
1.919.559.6169
Exp Realty
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2362400
Last Updated: 01/21/2021
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