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31 Ginger Gold Drive Simpsonville, SC 29681

4 Beds 3 Baths - sqft Built 2005

INVESTimate

$255,000

List Price

$1,870

$1,683 - $2,057

Rent Est.

$263,594  ( +3.37%)   1 YR EST. FORECAST

PROPERTY INFO

August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 2005
  • Price/Sqft : $94.10
  • 7 Days on Market
  • MLS # : 1425404
  • Updated Date : 08/20/2020 at 13:10
CONSTRUCTION
  • Beds : 4
  • Floor Size : '-'
  • Baths : 3 full
Listing Agent

Realty One Group Freedom

Listing Agent's Description

LOCATION! LOCATION! Sought after Five Forks area of Simpsonville located in peaceful Gilder Creek Farm neighborhood. Nice size flat back yard provides outdoor enjoyment for all ages. Enjoy leisurely strolls on neighborhood sidewalks day and night with streetlights! Lovely spacious 4 bedroom home, 3 full baths, formal dining room plus a bonus room. Kitchen includes all stainless appliances. This beautiful home has great curb appeal with a brick front and a spacious flow inside. Entry way presents an open 2 level foyer. First level hosts formal dining room with tray ceiling, open area for kitchen with full eat-in space and living area with gas fireplace. Perfect layout for hosting and family time. Included on the first level is a full bath and 4th bedroom which is currently used as an office/study room. The second level boasts 2 bedrooms and full bath in addition to the master bedroom with hosts a large private bathroom and full walk-in closet with space galore! The 2nd floor bonus room is a true BONUS! This home has maximized the storage and closet space. All closets include wooden rods for hanging and adjustable shelving, no wire racks here! Kitchen cabinets include extra shelving. Additional storage space in garage and attic. Neighborhood amenities include well maintained club house, pool, playground, and landscaped walkways. Each floor has separate zoning for heat/AC. Second level AC unit replaced 2016, lower level units for Heat and AC replaced 2020. Home located in popular school zones. Conveniently located to library, dining, shopping, medical, minutes to 101, 85, 385. Hurry, this home is sure to GO! This is really a great opportunity, please let us know if you have any questions.

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PRICE & RENT TRENDS

Zip Code: 29681

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $85k259k

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

Zip Code: 29681

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9171760

* 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
Bells Crossing Elementary School Primary Regular 955 53 9
Riverside Middle School Middle Regular 1,130 63 10
Mauldin High School High Regular 2,240 108 8

Bells Crossing Elementary School

  • Education Level: Primary
  • # of students: 955
  • # of teachers: 53
9
GreatSchools Rating

Riverside Middle School

  • Education Level: Middle
  • # of students: 1,130
  • # of teachers: 63
10
GreatSchools Rating

Mauldin High School

  • Education Level: High
  • # of students: 2,240
  • # of teachers: 108
8
GreatSchools Rating
 

$229,500$280,500$255,000

PURCHASE PRICE

$1,683$2,057$1,870

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,870
EXPENSES Loan Payment -$941
Property Tax -$306
Property Insurance -$77
Property Management Fees -$150
CASH FLOW
$397

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$255,000

PROJECTED PRICE

$1,870

PROJECTED RENT

0.73%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.42%
Appreciation Year (1-5) 3.37%
Maintenance Year (1-5) 8.00%
Vacancy 6.12%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$73,325

INVESTMENT

$73,325

Down Payment
$63,750
Rehab Estimate
$5,750
Closing Costs
$3,825

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 25% down payment or higher enables the proceeds from the asset to cover all costs.

$941

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $63,750
Loan Amount $191,250
See What Happens When You Reinvest Cash Flow

12.25

YEARS SAVED

$57,627

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,870

    LIST RENT
  • $0.69

    LIST RENT PER SQFT
  • $1,890

    COMP ESTIMATED VALUE
  • $0.7

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7953$1,8504$1,8505$1,870
$1,870
RENT COMPS ANALYSIS
* Sqft is provided from public sources
  • 31 Ginger Gold Drive Simpsonville, 5
    • 4 beds 3 baths ∙ 2,710 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,710 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,870
    • $0.69
    •  
  • 28 Ginger Gold Drive Simpsonville, 1
    • 3 beds 3 baths ∙ 2,488 Sqft ∙ Built 3 beds 3 baths ∙ 2,488 Sqft ∙ Built
    property image
    LEASED 08/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.68
    •  
  • 14 Jordan Crest Court Simpsonville, 2
    • 5 beds 4 baths ∙ 2,652 Sqft ∙ Built 5 beds 4 baths ∙ 2,652 Sqft ∙ Built
    property image
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.68
    •  
  • 20 Ginger Gold Drive Simpsonville, 3
    • 5 beds 4 baths ∙ 2,566 Sqft ∙ Built 2004 5 beds 4 baths ∙ 2,566 Sqft ∙ Built 2004
    property image
    LEASED 04/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.72
    •  
  • 38 Ginger Gold Drive Simpsonville, 4
    • 4 beds 3 baths ∙ 2,602 Sqft ∙ Built 4 beds 3 baths ∙ 2,602 Sqft ∙ Built
    property image
    LEASED 05/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.71
    •  
PROPERTY LISTING DETAILS
Sonia Torres-bonet
1.864.567.7227
Realty One Group Freedom
Lauren Taylor
1.866.250.5610
Homeunion SC LLC
21064
( GGARMLS)
MLS #: 1425404
Last Updated: 08/20/2020
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