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3928 Longmeadow Drive Mebane, NC 27302

3 Beds 2 Baths 1,726 sqft Built 2000

$298,000

List Price

$1,450

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $172.65
  • 3 Days on Market
  • MLS # : 2371851
  • Updated Date : 03/12/2021 at 21:34
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,726 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

One Level Home with 3 bdrm/2 bath AND a beautiful Sunroom. Split floorplan with master opposite LR from other 2 bdrms. Open and Spacious with 2 gas fireplaces. Very convenient to the interstate and popular Mebane schools. (In the proposed New high school district). The 3rd bdrm is currently used as an exercise room. The seller is willing to convert to a traditional bedroom if the buyer desires. Low Alamance County taxes (NO city taxes). Orange Alamance water & septic tank, low utility costs. Hurry!

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

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
Garrett Elementary School Primary Regular 669 42 3
Hawfields Middle School Middle Regular 678 38 8
Graham High School Primary Regular 804 48 3

Garrett Elementary School

  • Education Level: Primary
  • # of students: 669
  • # of teachers: 42
3
GreatSchools Rating

Hawfields Middle School

  • Education Level: Middle
  • # of students: 678
  • # of teachers: 38
8
GreatSchools Rating

Graham High School

  • Education Level: Primary
  • # of students: 804
  • # of teachers: 48
3
GreatSchools Rating
 

$268,200$327,800$298,000

PURCHASE PRICE

$1,305$1,595$1,450

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,450
EXPENSES Loan Payment -$1,035
Property Tax -$235
Property Insurance -$59
Property Management Fees -$119
CASH FLOW
$2

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.

$298,000

PROJECTED PRICE

$1,450

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.65%
Appreciation Year (1-5) 4.4%
Maintenance Year (1-5) 8.00%
Vacancy 6.80%
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$900k

PROJECTED ANNUAL CASH FLOW

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

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$84,720

INVESTMENT

$84,720

Down Payment
$74,500
Rehab Estimate
$5,750
Closing Costs
$4,470

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,035

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $74,500
Loan Amount $223,500
See What Happens When You Reinvest Cash Flow

4.83

YEARS SAVED

$14,505

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,450

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,454

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,5953$1,5954$1,5955$1,695
$1,695
RENT COMPS ANALYSIS
  • 3928 Longmeadow Drive Mebane, NC 1
    • 3 beds 2 baths ∙ 1,726 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,726 Sqft ∙ Built 2000
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.84
    •  
  • 1127 Fieldstone Drive Mebane, NC 2
    • 3 beds 3 baths ∙ 1,914 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,914 Sqft ∙ Built 1999
    property image
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.83
    •  
  • 629 Southwick Place Mebane, NC 3
    • 3 beds 2 baths ∙ 1,844 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,844 Sqft ∙ Built 2020
    property image
    LEASED 12/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.86
    •  
  • 150 Campaign Drive Mebane, NC 4
    • 3 beds 2 baths ∙ 1,844 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,844 Sqft ∙ Built 2020
    property image
    LEASED 12/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.86
    •  
  • 105 Luray Lane Mebane, NC 5
    • 4 beds 3 baths ∙ 2,070 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,070 Sqft ∙ Built 2020
    property image
    LEASED 11/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.82
    •  
PROPERTY LISTING DETAILS
Alice Ray
1.336.260.3548
Keller Williams Realty
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2371851
Last Updated: 03/12/2021
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