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

306 Wilba Road Mebane, NC 27302

4 Beds 2 Baths 1,404 sqft Built 1957

$240,000

List Price

$1,330

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

November 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1957
  • Price/Sqft : $170.94
  • 4 Days on Market
  • MLS # : 2354508
  • Updated Date : 11/22/2020 at 01:10
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,404 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

Walk to downtown Mebane and elementary school! Beautifully remodeled, one-story brick home. Large lot, large deck/porch, laundry, walk-in closet. Hardwood & ceramic. All new-electric, lights, faucets, hardware, cabinets, water heater, decks, doors. Beautiful Quartz counter tops, new, soft-close maple cabinets. Roof (8 yrs), Replacement Windows. Detached 2 car garage with finished room above! 4th bedroom/den with beautiful vaulted pine ceiling! Refrigerator included, furniture negotiable. A beauty!

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
  • 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

Zip Code: 27302

ZipNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190kPrice in $88k192k

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

Zip Code: 27302

ZipNIR Market*CityMarket2010Year2000 Q32019 Q28509009501000105011001150120012501300Rent in $8461332

* 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
E M Yoder Elementary School Primary Regular 319 28 6
Woodlawn Middle School Middle Regular 584 36 8
Eastern Alamance High School High Regular 1,256 66 6

E M Yoder Elementary School

  • Education Level: Primary
  • # of students: 319
  • # of teachers: 28
6
GreatSchools Rating

Woodlawn Middle School

  • Education Level: Middle
  • # of students: 584
  • # of teachers: 36
8
GreatSchools Rating

Eastern Alamance High School

  • Education Level: High
  • # of students: 1,256
  • # of teachers: 66
6
GreatSchools Rating
 

$216,000$264,000$240,000

PURCHASE PRICE

$1,197$1,463$1,330

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,330
EXPENSES Loan Payment -$886
Property Tax -$191
Property Insurance -$53
Property Management Fees -$120
CASH FLOW
$81

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.

$240,000

PROJECTED PRICE

$1,330

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.65%
Appreciation Year (1-5) 4.4%
Maintenance Year (1-5) 8.00%
Vacancy 6.80%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,350

INVESTMENT

$69,350

Down Payment
$60,000
Rehab Estimate
$5,750
Closing Costs
$3,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$886

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $60,000
Loan Amount $180,000
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$17,463

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,330

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,390

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,295
1$1,2952$1,330
$1,330
RENT COMPS ANALYSIS
  • 306 Wilba Road Mebane, NC 2
    • 4 beds 2 baths ∙ 1,404 Sqft ∙ Built 1957 4 beds 2 baths ∙ 1,404 Sqft ∙ Built 1957
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,330
    • $0.95
    •  
  • 723 N Wilba Road Mebane, NC 1
    • 3 beds 2 baths ∙ 1,310 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,310 Sqft ∙ Built 1959
    property image
    LEASED 06/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.99
    •  
PROPERTY LISTING DETAILS
Dawn Talley
1.336.227.4433
Keller Williams Realty
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2354508
Last Updated: 11/22/2020
BESbswy