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PROPERTY INFO
FACTS
- Single Family
- Built In 1996
- Price/Sqft : $115.36
- 7 Days on Market
- MLS # : 2353893
- Updated Date : 11/18/2020 at 15:05
CONSTRUCTION
- Beds : 3
- Floor Size : 2,253 sqft
- Baths : 2 full , 1 half
Listing Agent
Hometowne Realty Garner
Listing Agent's Description
Check out this home in a desirable golf course community with a recreational park including ball fields, walking trails, playgrounds and a dog park minutes away. This home is 3 beds, 2 1/2 baths and massive bonus room. There is a large screened-in porch with a separate deck that is perfect for entertaining. Hardwood floors in living room and dining room. All bedrooms are on the second floor. Newly painted interior and exterior. Don't miss this opportunity!!!
SEE MORE
- 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
- Major employers in Raleigh area: IBM, Cisco systems, Fidelity Investments, GlaxoSmithKline, RTI International
- #7 Best Big City for Jobs 2018 (Forbes, 2018)
- One of Top 10 cities for Small Business Friendliness (Thumbtack, 2018)
PRICE & RENT TRENDS
Neighborhood: Glen Laurel
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Glen Laurel
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,500 |
| EXPENSES | Loan Payment | -$959 |
| Property Tax | -$175 | |
| Property Insurance | -$70 | |
| HOA | -$14 | |
| Property Management Fees | -$135 | |
|
CASH FLOW
$147
|
||
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.
$259,900
PROJECTED PRICE
$1,500
PROJECTED RENT
0.58%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.33% |
| Appreciation Year (1-5) | 2.7% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 7.51% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$74,624
LOAN DETAILS
$959
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $64,975 |
| Loan Amount | $194,925 |
8.33
YEARS SAVED
$33,758
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,500
LIST RENT -
$0.68
LIST RENT PER SQFT
-
$1,542
COMP ESTIMATED VALUE -
$0.7
COMP AVG. RENT PER SQFT
Comps Range
-
305 Neuse River Drive Clayton, NC 4
- 3 beds 3 baths ∙ 2,195 Sqft ∙ Built 1996 3 beds 3 baths ∙ 2,195 Sqft ∙ Built 1996
- Rent
- Rent Per SQFT
- $1,500
- $0.68
-
175 River Hills Drive Clayton, NC 1
- 4 beds 3 baths ∙ 2,090 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,090 Sqft ∙ Built 2005
LEASED 11/18/19- Rent
- Rent Per SQFT
- $1,395
- $0.67
-
14 Streamwood Way Clayton, NC 2
- 4 beds 3 baths ∙ 2,100 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,100 Sqft ∙ Built 2006
LEASED 03/13/20- Rent
- Rent Per SQFT
- $1,475
- $0.70
-
131 Brookhaven Drive Clayton, NC 3
- 4 beds 3 baths ∙ 2,043 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,043 Sqft ∙ Built 2006
LEASED 12/18/19- Rent
- Rent Per SQFT
- $1,490
- $0.73
-
305 Neuse Ridge Drive Clayton, NC 5
- 3 beds 3 baths ∙ 2,195 Sqft ∙ Built 1996 3 beds 3 baths ∙ 2,195 Sqft ∙ Built 1996
LEASED 11/16/20- Rent
- Rent Per SQFT
- $1,550
- $0.71
PROPERTY LISTING DETAILS
1.919.987.0910
Hometowne Realty Garner
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
MLS #: 2353893
Last Updated: 11/18/2020
