Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

3016 Poplar Drive Efland, NC 27243

3 Beds 2 Baths 1,312 sqft Built 1998

$190,000

List Price

$1,170

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
December 03, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $144.82
  • 4 Days on Market
  • MLS # : 2356185
  • Updated Date : 12/04/2020 at 13:42
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,312 sqft
  • Baths : 2 full
Listing Agent

Realty One Carolina Llc

Listing Agent's Description

LOCATION!! LOCATION!! LOCATION!!!!! Adorable Cape Cod! Beautiful country setting with just over an acre lot! Charming 3-bedroom 2 bath home featuring an open floor plan with the master bedroom downstairs! This home offers an awesome spacious back deck for entertaining with a large shed/workshop that is pre-wired for electricity and direct-tv. More than enough land to enjoy many family gatherings and activities. Don’t miss this opportunity to make this house your “Home Sweet Home”!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • #7 Best Big City for Jobs 2018 (Forbes, 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)

PRICE & RENT TRENDS

Zip Code: 27243

ZipNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280k300kPrice in $78k303k

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

Zip Code: 27243

ZipNIR Market*CityMarket2010Year2000 Q22019 Q210001100120013001400150016001700Rent in $9121734

* 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
Efland-cheeks Elementary School Primary Regular 435 37 5
Gravelly Hill Middle School Middle Regular 495 38 4
Orange High School High Regular 1,305 79 7

Efland-cheeks Elementary School

  • Education Level: Primary
  • # of students: 435
  • # of teachers: 37
5
GreatSchools Rating

Gravelly Hill Middle School

  • Education Level: Middle
  • # of students: 495
  • # of teachers: 38
4
GreatSchools Rating

Orange High School

  • Education Level: High
  • # of students: 1,305
  • # of teachers: 79
7
GreatSchools Rating
 

$171,000$209,000$190,000

PURCHASE PRICE

$1,053$1,287$1,170

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,170
EXPENSES Loan Payment -$701
Property Tax -$144
Property Insurance -$52
Property Management Fees -$119
CASH FLOW
$153

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$190,000

PROJECTED PRICE

$1,170

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.42%
Appreciation Year (1-5) 5.6%
Maintenance Year (1-5) 8.00%
Vacancy 8.51%
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$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$56,100

INVESTMENT

$56,100

Down Payment
$47,500
Rehab Estimate
$5,750
Closing Costs
$2,850

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$701

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $47,500
Loan Amount $142,500
See What Happens When You Reinvest Cash Flow

9.17

YEARS SAVED

$27,851

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,170

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,168

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,170
1$1,1702$1,250
$1,250
RENT COMPS ANALYSIS
  • 3016 Poplar Drive Efland, NC 1
    • 3 beds 2 baths ∙ 1,312 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,312 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $1,170
    • $0.89
    •  
  • 607 Widgeon Way Mebane, NC 2
    • 3 beds 2 baths ∙ 1,410 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,410 Sqft ∙ Built 2015
    LEASED 07/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.89
    •  
PROPERTY LISTING DETAILS
Carolyn Nelson
1.336.323.8586
Realty One Carolina Llc
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2356185
Last Updated: 12/04/2020
BESbswy