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404 Washington Street Clayton, NC 27520

3 Beds 3 Baths 1,644 sqft Built 2020

$248,800

List Price

$1,570

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
SINGLE-FAMILY
March 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $151.34
  • 4 Days on Market
  • MLS # : 2370070
  • Updated Date : 03/07/2021 at 03:34
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,644 sqft
  • Baths : 2 full , 1 half
Listing Agent

Movil Realty

Listing Agent's Description

Check out this stunning Like New Single Family home in Clayton. Featuring a spacious Master bedroom as well as Stainless steel appliances and Granite Countertops.NO HOA and just minutes away from great schools and shopping. This will not last long, don't want to miss your chance!

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: Neuse

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $107k265k

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

Neighborhood: Neuse

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2800900100011001200130014001500Rent in $7651595

* 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
Cooper Academy Primary Regular 593 45 2
Riverwood Middle School Middle Regular 1,149 64 7
Clayton High School High Regular 1,512 85 5

Cooper Academy

  • Education Level: Primary
  • # of students: 593
  • # of teachers: 45
2
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
 

$223,920$273,680$248,800

PURCHASE PRICE

$1,413$1,727$1,570

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,570
EXPENSES Loan Payment -$864
Property Tax -$255
Property Insurance -$59
Property Management Fees -$119
CASH FLOW
$272

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.

$248,800

PROJECTED PRICE

$1,570

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 5.4%
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$5.0k$10k$15k$20k

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$67,932

INVESTMENT

$67,932

Down Payment
$62,200
Rehab Estimate
$2,000
Closing Costs
$3,732

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 25% down payment or higher enables the proceeds from the asset to cover all costs.

$864

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $62,200
Loan Amount $186,600
See What Happens When You Reinvest Cash Flow

11.5

YEARS SAVED

$45,350

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,570

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,578

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,5703$1,6504$1,7005$1,795
$1,795
RENT COMPS ANALYSIS
  • 404 Washington Street Clayton, NC 2
    • 3 beds 3 baths ∙ 1,644 Sqft ∙ Built 2020 3 beds 3 baths ∙ 1,644 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,570
    • $0.95
    •  
  • 128 Balboa Parkway Clayton, NC 1
    • 3 beds 3 baths ∙ 1,510 Sqft ∙ Built 2017 3 beds 3 baths ∙ 1,510 Sqft ∙ Built 2017
    property image
    LEASED 04/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.99
    •  
  • 445 Atwood Drive Clayton, NC 3
    • 3 beds 3 baths ∙ 1,751 Sqft ∙ Built 2020 3 beds 3 baths ∙ 1,751 Sqft ∙ Built 2020
    property image
    LEASED 11/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.94
    •  
  • 104 Parkview Drive Clayton, NC 4
    • 3 beds 3 baths ∙ 1,711 Sqft ∙ Built 2016 3 beds 3 baths ∙ 1,711 Sqft ∙ Built 2016
    property image
    LEASED 03/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.99
    •  
  • 548 Atwood Drive Clayton, NC 5
    • 4 beds 3 baths ∙ 1,955 Sqft ∙ Built 2020 4 beds 3 baths ∙ 1,955 Sqft ∙ Built 2020
    property image
    LEASED 01/04/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.92
    •  
PROPERTY LISTING DETAILS
Anggie Panchana Defaz
1.919.827.3942
Movil Realty
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2370070
Last Updated: 03/07/2021
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