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405 St John Court Holly Springs, NC 27540

3 Beds 2 Baths 1,420 sqft Built 1994

$270,000

List Price

$1,410

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $190.14
  • 3 Days on Market
  • MLS # : 2356453
  • Updated Date : 12/04/2020 at 22:02
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,420 sqft
  • Baths : 2 full
Listing Agent

A Cole Realty Llc

Listing Agent's Description

Spectacular Ranch Home in a convenient Holly Springs location! This cul-de-sac home sits on a spacious lot, has a 1 car garage, and a large storage building in the back yard. Kitchen boasts wood tone cabinets, SS appliances, and tile backsplash. Inviting Family Room with gas log fireplace and dining area off to the side. Master Suite features a walk in closet and tile floors in the bath. Ceiling fans in all bedrooms! Newer HVAC, partially covered deck, gutter guards, and so much more. A must see!

SEE MORE

MARKET HIGHLIGHTS

  • Major employers in Raleigh area: IBM, Cisco systems, Fidelity Investments, GlaxoSmithKline, RTI International
  • One of Top 10 cities for Small Business Friendliness (Thumbtack, 2018)
  • #7 Best Big City for Jobs 2018 (Forbes, 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: Windward Pointe

NeighborhoodNIR Market*CityMarket2010Year20002019160k180k200k220k240k260k280k300k320k340k360k380kPrice in $153k400k

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

Neighborhood: Windward Pointe

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2100011001200130014001500160017001800Rent in $9981873

* 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
Holly Springs Elementary School Primary Regular 1,086 64 8
Holly Ridge Middle School Middle Regular 1,222 69 4
Holly Springs High School High Regular 2,418 122 7

Holly Springs Elementary School

  • Education Level: Primary
  • # of students: 1,086
  • # of teachers: 64
8
GreatSchools Rating

Holly Ridge Middle School

  • Education Level: Middle
  • # of students: 1,222
  • # of teachers: 69
4
GreatSchools Rating

Holly Springs High School

  • Education Level: High
  • # of students: 2,418
  • # of teachers: 122
7
GreatSchools Rating
 

$243,000$297,000$270,000

PURCHASE PRICE

$1,269$1,551$1,410

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,410
EXPENSES Loan Payment -$996
Property Tax -$197
Property Insurance -$55
HOA -$38
Property Management Fees -$119
CASH FLOW
$5

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.

$270,000

PROJECTED PRICE

$1,410

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.33%
Appreciation Year (1-5) 7.8%
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$1.0M

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$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$77,300

INVESTMENT

$77,300

Down Payment
$67,500
Rehab Estimate
$5,750
Closing Costs
$4,050

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$996

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $67,500
Loan Amount $202,500
See What Happens When You Reinvest Cash Flow

6.42

YEARS SAVED

$23,666

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,410

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $1,420

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,3953$1,4004$1,4105$1,495
$1,495
RENT COMPS ANALYSIS
  • 405 St John Court Holly Springs, NC 4
    • 3 beds 2 baths ∙ 1,420 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,420 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $1,410
    • $0.99
    •  
  • 953 Stinson Avenue Holly Springs, NC 1
    • 3 beds 3 baths ∙ 1,386 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,386 Sqft ∙ Built 2001
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.97
    •  
  • 100 Steeple Road Holly Springs, NC 2
    • 3 beds 2 baths ∙ 1,379 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,379 Sqft ∙ Built 1993
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.01
    •  
  • 308 Palmdale Court Holly Springs, NC 3
    • 3 beds 3 baths ∙ 1,390 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,390 Sqft ∙ Built 2006
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.01
    •  
  • 513 E Maple Avenue Holly Springs, NC 5
    • 3 beds 3 baths ∙ 1,480 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,480 Sqft ∙ Built 2001
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.01
    •  
PROPERTY LISTING DETAILS
Angie Cole
1.919.538.6477
A Cole Realty Llc
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2356453
Last Updated: 12/04/2020
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