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300 Stone Hedge Court Holly Springs, NC 27540

3 Beds 3 Baths 1,653 sqft Built 1997

$275,000

List Price

$1,550

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 1997
  • Price/Sqft : $166.36
  • 2 Days on Market
  • MLS # : 2351598
  • Updated Date : 11/02/2020 at 22:25
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,653 sqft
  • Baths : 2 full , 1 half
Listing Agent

Team Anderson Realty

Listing Agent's Description

Prime Holly Springs location nestled on corner lot in pool community w/picnic area, playgrounds & basketball hoops. Move-in ready home w/newly installed roof, AC & water heater. Engineered HWD flooring throughout the downstairs. Wood burning FP perfect for relaxation. Eat-in kitchen w/pantry & gas stove. Spacious beds and bonus room w/loads of storage. Ideal outdoor entertaining w/fenced-in yard, screened porch, deck w/BI bench & over-sized patio featuring overhead lighting creating the perfect ambiance.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • #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

PRICE & RENT TRENDS

Neighborhood: Oak Hall

NeighborhoodNIR Market*CityMarket2010Year20002019160k180k200k220k240k260k280k300k320k340k360k380kPrice in $146k400k

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

Neighborhood: Oak Hall

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
Oakview Elementary School Primary Regular NA
Apex Friendship Middle Middle Regular NA
Holly Springs High School High Regular 2,418 122 7

Oakview Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Apex Friendship Middle

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Holly Springs High School

  • Education Level: High
  • # of students: 2,418
  • # of teachers: 122
7
GreatSchools Rating
 

$247,500$302,500$275,000

PURCHASE PRICE

$1,395$1,705$1,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,550
EXPENSES Loan Payment -$1,015
Property Tax -$221
Property Insurance -$59
HOA -$33
Property Management Fees -$140
CASH FLOW
$82

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 16% of earned rent to cover both maintenance and periods of vacancy.

$275,000

PROJECTED PRICE

$1,550

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.33%
Appreciation Year (1-5) 5.8%
Maintenance Year (1-5) 8.00%
Vacancy 7.51%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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$78,625

INVESTMENT

$78,625

Down Payment
$68,750
Rehab Estimate
$5,750
Closing Costs
$4,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,015

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $68,750
Loan Amount $206,250
See What Happens When You Reinvest Cash Flow

6.67

YEARS SAVED

$26,800

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,550

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,517

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,549
1$1,5492$1,5503$1,5954$1,6505$1,668
$1,668
RENT COMPS ANALYSIS
  • 300 Stone Hedge Court Holly Springs, NC 2
    • 4 beds 3 baths ∙ 1,653 Sqft ∙ Built 1997 4 beds 3 baths ∙ 1,653 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.94
    •  
  • 309 Palmdale Court Holly Springs, NC 1
    • 3 beds 3 baths ∙ 1,727 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,727 Sqft ∙ Built 2005
    LEASED 09/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,549
    • $0.90
    •  
  • 240 Milpass Drive Holly Springs, NC 3
    • 3 beds 3 baths ∙ 1,670 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,670 Sqft ∙ Built 2005
    LEASED 07/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.96
    •  
  • 217 Milpass Drive Holly Springs, NC 4
    • 3 beds 3 baths ∙ 1,833 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,833 Sqft ∙ Built 2005
    LEASED 08/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.90
    •  
  • 1201 Linden Ridge Drive Holly Springs, NC 5
    • 3 beds 3 baths ∙ 1,833 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,833 Sqft ∙ Built 1998
    LEASED 05/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,668
    • $0.91
    •  
PROPERTY LISTING DETAILS
Erica Anderson
1.919.610.5126
Team Anderson Realty
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2351598
Last Updated: 11/02/2020
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