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309 Atkinson Farm Circle Garner, NC 27529

3 Beds 2 Baths 1,472 sqft Built 1999

$269,990

List Price

$1,490

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $183.42
  • 2 Days on Market
  • MLS # : 2395172
  • Updated Date : 07/12/2021 at 17:56
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,472 sqft
  • Baths : 2 full
Listing Agent

A Cole Realty Llc

Listing Agent's Description

Highly sought-after Ranch floor plan in the desirable community of Lees Plantation. Spectacular location close to White Oak Crossing! This charming 3 bedroom home is the perfect space to entertain featuring an amazing wrap around front porch, covered porch off the Family Room, and large flat fenced yard. Beautiful white cabinet Kitchen boasts lots of cabinet and counter space. Spacious Master Suite w/WIC and luxury tile floors in all bedrooms. Storage Shed, 2 car garage, & so much more!

SEE MORE

MARKET HIGHLIGHTS

  • #7 Best Big City for Jobs 2018 (Forbes, 2018)
  • 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)
  • 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: Lee's Plantation

NeighborhoodNIR Market*CityMarket2010Year20002019140k150k160k170k180k190k200k210k220k230k240k250k260kPrice in $132k265k

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

Neighborhood: Lee's Plantation

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2950100010501100115012001250130013501400145015001550Rent in $9461595

* 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
West Clayton Elementary School Primary Regular 902 58 6
Clayton Middle School Middle Regular 793 49 4
Clayton High School High Regular 1,512 85 5

West Clayton Elementary School

  • Education Level: Primary
  • # of students: 902
  • # of teachers: 58
6
GreatSchools Rating

Clayton Middle School

  • Education Level: Middle
  • # of students: 793
  • # of teachers: 49
4
GreatSchools Rating

Clayton High School

  • Education Level: High
  • # of students: 1,512
  • # of teachers: 85
5
GreatSchools Rating
 

$242,991$296,989$269,990

PURCHASE PRICE

$1,341$1,639$1,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,490
EXPENSES Loan Payment -$938
Property Tax -$183
Property Insurance -$56
Property Management Fees -$119
CASH FLOW
$195

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.

$269,990

PROJECTED PRICE

$1,490

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 4.9%
Maintenance Year (1-5) 8.00%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$77,297

INVESTMENT

$77,297

Down Payment
$67,498
Rehab Estimate
$5,750
Closing Costs
$4,050

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$938

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $67,498
Loan Amount $202,493
See What Happens When You Reinvest Cash Flow

9.5

YEARS SAVED

$35,769

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,490

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $1,295

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,490
1$1,4902$1,600
$1,600
RENT COMPS ANALYSIS
  • 309 Atkinson Farm Circle Garner, NC 1
    • 3 beds 2 baths ∙ 1,472 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,472 Sqft ∙ Built 1999
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,490
    • $1.01
    •  
  • 4000 Forty Niners Road Clayton, NC 2
    • 3 beds 3 baths ∙ 1,808 Sqft ∙ Built 1994 3 beds 3 baths ∙ 1,808 Sqft ∙ Built 1994
    property image
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.88
    •  
PROPERTY LISTING DETAILS
Angie Cole
1.919.578.3128
A Cole Realty Llc
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2395172
Last Updated: 07/12/2021
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