Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

410 S Barbour Street Clayton, NC 27520

3 Beds 1 Baths 1,007 sqft Built 1947

$150,000

List Price

$1,060

$954 - $1.2K

Rent Est.

PROPERTY INFO

YES TENANTED
January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1947
  • Price/Sqft : $148.96
  • 3 Days on Market
  • MLS # : 2360808
  • Updated Date : 01/09/2021 at 22:09
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,007 sqft
  • Baths : 1 full
Listing Agent

Exp Realty

Listing Agent's Description

Rare opportunity in downtown Clayton. Ranch style home with wood flooring throughout and fresh paint. Fenced in backyard with detached shed. No HOA dues and minutes from Clayton High School. Tucked on a quiet street in an area of high demand. Property has been well maintained and leased for years. Could be a packaged deal with 2 other properties in DT Clayton. Barbour St is leased for $900 a month and the combined portfolio totals at $2225 a month.

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: Downtown Clayton

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $86k265k

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

Neighborhood: Downtown Clayton

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2800900100011001200130014001500Rent in $7171595

* 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
 

$135,000$165,000$150,000

PURCHASE PRICE

$954$1,166$1,060

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,060
EXPENSES Loan Payment -$521
Property Tax -$154
Property Insurance -$45
Property Management Fees -$119
CASH FLOW
$221

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.

$150,000

PROJECTED PRICE

$1,060

PROJECTED RENT

0.71%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 7.3%
Maintenance Year (1-5) 8.00%
Vacancy 7.47%
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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$45,500

INVESTMENT

$45,500

Down Payment
$37,500
Rehab Estimate
$5,750
Closing Costs
$2,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$521

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $37,500
Loan Amount $112,500
See What Happens When You Reinvest Cash Flow

12.58

YEARS SAVED

$29,516

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,060

    LIST RENT
  • $1.16

    LIST RENT PER SQFT
  • $1,042

    COMP ESTIMATED VALUE
  • $1.15

    COMP AVG. RENT PER SQFT
Comps Range
$1,025
1$1,0252$1,0603$1,300
$1,300
RENT COMPS ANALYSIS
  • 410 S Barbour Street Clayton, NC 2
    • 3 beds 1 baths ∙ 910 Sqft ∙ Built 1947 3 beds 1 baths ∙ 910 Sqft ∙ Built 1947
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,060
    • $1.16
    •  
  • 908 E Joyner Street Clayton, NC 1
    • 3 beds 1 baths ∙ 978 Sqft ∙ Built 1942 3 beds 1 baths ∙ 978 Sqft ∙ Built 1942
    property image
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,025
    • $1.05
    •  
  • 213 Ellington Street Clayton, NC 3
    • 3 beds 2 baths ∙ 1,050 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,050 Sqft ∙ Built 1964
    property image
    LEASED 12/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $1.24
    •  
PROPERTY LISTING DETAILS
Tyler Chestnutt
1.919.889.7791
Exp Realty
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2360808
Last Updated: 01/09/2021
BESbswy