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314 Huckleberry Loop Mebane, NC 27302

3 Beds 3 Baths 1,650 sqft Built 2016

INVESTimate

$190,000

List Price

$1,370

$1,233 - $1,507

Rent Est.

$198,341  ( +4.39%)   1 YR EST. FORECAST

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
August 24, 2020 RECENTLY ADDED
FACTS
  • Built In 2016
  • Price/Sqft : $115.15
  • 4 Days on Market
  • MLS # : 2338808
  • Updated Date : 08/26/2020 at 00:47
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,650 sqft
  • Baths : 2 full , 1 half
Listing Agent

Fathom Realty Nc, Llc

Listing Agent's Description

Great Starter Home offering 3 br, 2 1/2 baths, Family/dining, kitchen, 2 car garage, paved drive, Cul de Sac lot. Fenced in back yard area. Community Playground. Conveniently located to I-85, Downtown Mebane, Tanger Outlets & All Restaurants.

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
  • #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)

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
South Mebane Elementary School Primary Regular 581 35 7
Woodlawn Middle School Middle Regular 584 36 8
Eastern Alamance High School High Regular 1,256 66 6

South Mebane Elementary School

  • Education Level: Primary
  • # of students: 581
  • # of teachers: 35
7
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
 

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

PURCHASE PRICE

$1,233$1,507$1,370

RENT

DOWN PAYMENT
FINANCING

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,370
EXPENSES Loan Payment -$701
Property Tax -$151
Property Insurance -$58
HOA -$17
Property Management Fees -$123
CASH FLOW
$320

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.

$190,000

PROJECTED PRICE

$1,370

PROJECTED RENT

0.72%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.65%
Appreciation Year (1-5) 4.39%
Maintenance Year (1-5) 8.00%
Vacancy 6.80%
Length of Stay Years 2

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 25% 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

12.08

YEARS SAVED

$42,279

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,370

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,535

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,370
1$1,3702$1,5953$1,695
$1,695
RENT COMPS ANALYSIS
  • 314 Huckleberry Loop Mebane, 1
    • 3 beds 3 baths ∙ 1,650 Sqft ∙ Built 2016 3 beds 3 baths ∙ 1,650 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $1,370
    • $0.83
    •  
  • 1127 Fieldstone Drive Mebane, 2
    • 3 beds 3 baths ∙ 1,914 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,914 Sqft ∙ Built 1999
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.83
    •  
  • 203 Briarwood Drive Mebane, 3
    • 3 beds 2 baths ∙ 1,646 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,646 Sqft ∙ Built 1996
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.03
    •  
PROPERTY LISTING DETAILS
Denise Wrenn
1.336.504.3599
Fathom Realty Nc, Llc
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2338808
Last Updated: 08/26/2020
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