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349 Gourd Street Zebulon, NC 27597

4 Beds 3 Baths 2,368 sqft Built 2021

$292,900

List Price

$1,560

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $123.69
  • 3 Days on Market
  • MLS # : 2366648
  • Updated Date : 02/12/2021 at 21:42
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,368 sqft
  • Baths : 2 full , 1 half
Listing Agent

Lgi Realty Nc, Llc

Listing Agent's Description

This gorgeous home has all of the features you are searching for! A large flex room offers the perfect space to utilize in a way that suits your family. The gorgeous kitchen boasts high-end finishes such as granite counter tops, recessed lighting & energy-efficient appliances, including refrigerator. Large wooden cabinets w/crown molding & walk-in pantry offer ample storage space! every bedroom includes a walk-in closet. The master suite also boasts a vaulted ceiling and large private bath.

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
  • Major employers in Raleigh area: IBM, Cisco systems, Fidelity Investments, GlaxoSmithKline, RTI International
  • #7 Best Big City for Jobs 2018 (Forbes, 2018)
  • 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: 27597

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $106k265k

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

Zip Code: 27597

ZipNIR Market*CityMarket2010Year2000 Q22019 Q2800900100011001200130014001500Rent in $7591595

* 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
Zebulon Elementary School Primary Magnet 539 42 3
Zebulon Middle School Middle Magnet 556 42 3
East Wake High School High Regular NA

Zebulon Elementary School

  • Education Level: Primary
  • # of students: 539
  • # of teachers: 42
3
GreatSchools Rating

Zebulon Middle School

  • Education Level: Middle
  • # of students: 556
  • # of teachers: 42
3
GreatSchools Rating

East Wake High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$263,610$322,190$292,900

PURCHASE PRICE

$1,404$1,716$1,560

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,560
EXPENSES Loan Payment -$1,017
Property Tax -$244
Property Insurance -$73
HOA -$25
Property Management Fees -$119
CASH FLOW
$81

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$292,900

PROJECTED PRICE

$1,560

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 4.6%
Maintenance Year (1-5) 3.00%
Vacancy 7.47%
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$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$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,619

INVESTMENT

$79,619

Down Payment
$73,225
Rehab Estimate
$2,000
Closing Costs
$4,394

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,017

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $73,225
Loan Amount $219,675
See What Happens When You Reinvest Cash Flow

7.17

YEARS SAVED

$25,496

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,560

    LIST RENT
  • $0.66

    LIST RENT PER SQFT
  • $1,527

    COMP ESTIMATED VALUE
  • $0.65

    COMP AVG. RENT PER SQFT
Comps Range
$1,499
1$1,4992$1,5603$1,695
$1,695
RENT COMPS ANALYSIS
  • 349 Gourd Street Zebulon, NC 2
    • 4 beds 3 baths ∙ 2,368 Sqft ∙ Built 2021 4 beds 3 baths ∙ 2,368 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $1,560
    • $0.66
    •  
  • 504 Willow Breeze Court Zebulon, NC 1
    • 3 beds 3 baths ∙ 2,309 Sqft ∙ Built 2019 3 beds 3 baths ∙ 2,309 Sqft ∙ Built 2019
    LEASED 02/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,499
    • $0.65
    •  
  • 6105 Watsonia Drive Zebulon, NC 3
    • 4 beds 3 baths ∙ 2,635 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,635 Sqft ∙ Built 2019
    LEASED 04/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.64
    •  
PROPERTY LISTING DETAILS
Dayne Luck
Lgi Realty Nc, Llc
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2366648
Last Updated: 02/12/2021
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