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320 Nelson Lane Clayton, NC 27527

4 Beds 3 Baths 2,286 sqft Built 2018

$280,000

List Price

$1,730

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 2018
  • Price/Sqft : $122.48
  • 3 Days on Market
  • MLS # : 2352443
  • Updated Date : 11/06/2020 at 18:28
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,286 sqft
  • Baths : 2 full , 1 half
Listing Agent

Alliance Real Estate Partners

Listing Agent's Description

Pack your bags and move right into this 2 year old home in Riverwood! 4 bedrooms (first floor Master!) and 2.5 baths; kitchen with granite counters and a tile backsplash that opens to the family room with built ins; formal dining room or office on first level as well! 3 Bedrooms plus a big bonus room upstairs - plenty of room in this home! Walk right from your 2 level deck onto the Neuse River Trail! Neighborhood with pool, fitness, playground, trails, and shopping -- you don't want to miss seeing this!

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: Wolf Laurel at Riverwood Athletic Club

NeighborhoodNIR Market*CityMarket2010Year20002019140k150k160k170k180k190k200k210k220k230k240k250k260k270kPrice in $131k273k

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

Neighborhood: Wolf Laurel at Riverwood Athletic Club

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q210001100120013001400150016001700Rent in $9461734

* 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
Riverwood Elementary School Primary Regular 837 49 6
Riverwood Middle School Middle Regular 1,149 64 7
Corinth Holders High School High Regular 1,679 91 5

Riverwood Elementary School

  • Education Level: Primary
  • # of students: 837
  • # of teachers: 49
6
GreatSchools Rating

Riverwood Middle School

  • Education Level: Middle
  • # of students: 1,149
  • # of teachers: 64
7
GreatSchools Rating

Corinth Holders High School

  • Education Level: High
  • # of students: 1,679
  • # of teachers: 91
5
GreatSchools Rating
 

$252,000$308,000$280,000

PURCHASE PRICE

$1,557$1,903$1,730

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,730
EXPENSES Loan Payment -$1,033
Property Tax -$287
Property Insurance -$72
HOA -$69
Property Management Fees -$156
CASH FLOW
$113

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.

$280,000

PROJECTED PRICE

$1,730

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 3.2%
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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

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

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$79,950

INVESTMENT

$79,950

Down Payment
$70,000
Rehab Estimate
$5,750
Closing Costs
$4,200

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,033

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $70,000
Loan Amount $210,000
See What Happens When You Reinvest Cash Flow

6.42

YEARS SAVED

$25,195

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,730

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $1,737

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,6253$1,6654$1,7305$1,845
$1,845
RENT COMPS ANALYSIS
  • 320 Nelson Lane Clayton, NC 4
    • 4 beds 3 baths ∙ 2,286 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,286 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $1,730
    • $0.76
    •  
  • 216 Pearson Place Clayton, NC 1
    • 3 beds 3 baths ∙ 2,038 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,038 Sqft ∙ Built 2007
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.76
    •  
  • 357 Collinsworth Drive Clayton, NC 2
    • 4 beds 3 baths ∙ 2,139 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,139 Sqft ∙ Built 2005
    LEASED 06/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.76
    •  
  • 372 Collinsworth Drive Clayton, NC 3
    • 4 beds 3 baths ∙ 2,147 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,147 Sqft ∙ Built 2004
    LEASED 06/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,665
    • $0.78
    •  
  • 401 Sarazen Drive Clayton, NC 5
    • 4 beds 3 baths ∙ 2,500 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,500 Sqft ∙ Built 2002
    LEASED 11/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,845
    • $0.74
    •  
PROPERTY LISTING DETAILS
Katie Spalding
1.919.418.4433
Alliance Real Estate Partners
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2352443
Last Updated: 11/06/2020
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