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346 Naples Lane Clayton, NC 27527

4 Beds 3 Baths 2,355 sqft Built 2016

$272,000

List Price

$1,670

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $115.50
  • 2 Days on Market
  • MLS # : 2353692
  • Updated Date : 11/14/2020 at 14:42
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,355 sqft
  • Baths : 2 full , 1 half
Listing Agent

Dream Team Realty Group Llc

Listing Agent's Description

Stunning 4 bedroom, 2.5 bath home in Tuscany subdivision. Enter through the front door to find beautiful hardwood floors throughout the first floor. Kitchen has stainless steel appliances, including a gas range. Cozy gas fireplace perfect for the upcoming winter months. Master bathroom has separate tub and tiled shower. Fenced in backyard. Nearby Publix opening soon. Welcome Home!

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
  • #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)

PRICE & RENT TRENDS

Neighborhood: The Reserve at Tuscany

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $131k359k

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

Neighborhood: The Reserve at Tuscany

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2100011001200130014001500160017001800Rent in $9911873

* 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
East Clayton Elementary School Primary Regular 563 39 5
Riverwood Middle School Middle Regular 1,149 64 7
Clayton High School High Regular 1,512 85 5

East Clayton Elementary School

  • Education Level: Primary
  • # of students: 563
  • # of teachers: 39
5
GreatSchools Rating

Riverwood Middle School

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

Clayton High School

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

$244,800$299,200$272,000

PURCHASE PRICE

$1,503$1,837$1,670

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,670
EXPENSES Loan Payment -$1,004
Property Tax -$179
Property Insurance -$73
HOA -$60
Property Management Fees -$150
CASH FLOW
$205

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 16% of earned rent to cover both maintenance and periods of vacancy.

$272,000

PROJECTED PRICE

$1,670

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.33%
Appreciation Year (1-5) 3.6%
Maintenance Year (1-5) 8.00%
Vacancy 7.51%
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$77,830

INVESTMENT

$77,830

Down Payment
$68,000
Rehab Estimate
$5,750
Closing Costs
$4,080

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,004

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $68,000
Loan Amount $204,000
See What Happens When You Reinvest Cash Flow

9.25

YEARS SAVED

$40,540

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,670

    LIST RENT
  • $0.71

    LIST RENT PER SQFT
  • $1,743

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6003$1,6504$1,6705$1,675
$1,675
RENT COMPS ANALYSIS
  • 346 Naples Lane Clayton, NC 4
    • 4 beds 3 baths ∙ 2,355 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,355 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $1,670
    • $0.71
    •  
  • 383 W Copenhaver Drive Clayton, NC 1
    • 4 beds 3 baths ∙ 2,180 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,180 Sqft ∙ Built 2019
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.73
    •  
  • 220 Rothes Court Clayton, NC 2
    • 3 beds 2 baths ∙ 2,146 Sqft ∙ Built 2019 3 beds 2 baths ∙ 2,146 Sqft ∙ Built 2019
    LEASED 10/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.75
    •  
  • 215 Naples Lane Clayton, NC 3
    • 4 beds 3 baths ∙ 2,320 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,320 Sqft ∙ Built 2017
    LEASED 03/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.71
    •  
  • 29 Montalto Court Clayton, NC 5
    • 4 beds 3 baths ∙ 2,180 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,180 Sqft ∙ Built 2019
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.77
    •  
PROPERTY LISTING DETAILS
Samantha Rouse
1.919.623.6452
Dream Team Realty Group Llc
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2353692
Last Updated: 11/14/2020
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