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410 Roanoke Way Clayton, NC 27527

3 Beds 2 Baths 1,228 sqft Built 1994

$205,500

List Price

$1,210

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

November 03, 2020 RECENTLY ADDED
FACTS
  • Built In 1994
  • Price/Sqft : $167.35
  • 2 Days on Market
  • MLS # : 2351650
  • Updated Date : 11/02/2020 at 17:48
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,228 sqft
  • Baths : 2 full
Listing Agent

The Insight Group Inc.

Listing Agent's Description

Beautiful Ranch home 3Br-2ba with almost an acre fenced lot, storage shed and no HOA. 2 car concrete slab and carport recently built (permitted). I you like the exterior you would love the interior: LVP floors, no carpet, 42" new cabinets, electric fireplace, cathedral ceiling, open space between dinning area and spacious living room. Move in ready, very good maintenance. Lot of storage inside and out. Long driveway and a large deck and patio for family, friends and entertainment. On top: Grape vines.

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)
  • 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)
  • #7 Best Big City for Jobs 2018 (Forbes, 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: Virginia Downs

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $95k265k

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

Neighborhood: Virginia Downs

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2900950100010501100115012001250130013501400145015001550Rent in $8691595

* 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
River Dell Elementary School Primary Regular 898 51 4
Archer Lodge Middle School Middle Regular 1,058 62 4
Corinth Holders High School High Regular 1,679 91 5

River Dell Elementary School

  • Education Level: Primary
  • # of students: 898
  • # of teachers: 51
4
GreatSchools Rating

Archer Lodge Middle School

  • Education Level: Middle
  • # of students: 1,058
  • # of teachers: 62
4
GreatSchools Rating

Corinth Holders High School

  • Education Level: High
  • # of students: 1,679
  • # of teachers: 91
5
GreatSchools Rating
 

$184,950$226,050$205,500

PURCHASE PRICE

$1,089$1,331$1,210

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,210
EXPENSES Loan Payment -$758
Property Tax -$139
Property Insurance -$51
Property Management Fees -$109
CASH FLOW
$153

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.

$205,500

PROJECTED PRICE

$1,210

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 3.6%
Maintenance Year (1-5) 8.00%
Vacancy 7.49%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$60,208

INVESTMENT

$60,208

Down Payment
$51,375
Rehab Estimate
$5,750
Closing Costs
$3,083

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$758

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $51,375
Loan Amount $154,125
See What Happens When You Reinvest Cash Flow

8.58

YEARS SAVED

$28,458

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,210

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $1,154

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,210
1$1,2102$1,3503$1,375
$1,375
RENT COMPS ANALYSIS
  • 410 Roanoke Way Clayton, NC 1
    • 3 beds 2 baths ∙ 1,228 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,228 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $1,210
    • $0.99
    •  
  • 107 Campen Court Clayton, NC 2
    • 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 2001
    LEASED 12/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.93
    •  
  • 25 Denby Circle Clayton, NC 3
    • 3 beds 2 baths ∙ 1,449 Sqft ∙ Built 2012 3 beds 2 baths ∙ 1,449 Sqft ∙ Built 2012
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.95
    •  
PROPERTY LISTING DETAILS
Oscar Corrales
1.919.349.7110
The Insight Group Inc.
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2351650
Last Updated: 11/02/2020
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