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413 Hidden Cellars Drive Holly Springs, NC 27540

3 Beds 2 Baths 1,326 sqft Built 1997

$278,000

List Price

$1,330

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

January 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $209.65
  • 7 Days on Market
  • MLS # : 2360009
  • Updated Date : 01/06/2021 at 17:44
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,326 sqft
  • Baths : 2 full
Listing Agent

Opendoor Brokerage Llc

Listing Agent's Description

This Holly Springs one-story home offers granite countertops, and a one-car garage. This home is vacant and cleaned regularly.

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: Somerset Farm

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $135k400k

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

Neighborhood: Somerset Farm

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2900100011001200130014001500160017001800Rent in $8861873

* 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
Herbert Akins Road Elementary School Primary Regular 966 57 6
Holly Grove Middle School Middle Regular 1,439 81 8
Holly Springs High School High Regular 2,418 122 7

Herbert Akins Road Elementary School

  • Education Level: Primary
  • # of students: 966
  • # of teachers: 57
6
GreatSchools Rating

Holly Grove Middle School

  • Education Level: Middle
  • # of students: 1,439
  • # of teachers: 81
8
GreatSchools Rating

Holly Springs High School

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

$250,200$305,800$278,000

PURCHASE PRICE

$1,197$1,463$1,330

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,330
EXPENSES Loan Payment -$966
Property Tax -$208
Property Insurance -$53
HOA -$30
Property Management Fees -$119
CASH FLOW
-$45

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.

$278,000

PROJECTED PRICE

$1,330

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.33%
Appreciation Year (1-5) 7.5%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$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$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,420

INVESTMENT

$79,420

Down Payment
$69,500
Rehab Estimate
$5,750
Closing Costs
$4,170

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$966

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $69,500
Loan Amount $208,500
See What Happens When You Reinvest Cash Flow

5.33

YEARS SAVED

$15,638

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,330

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $1,336

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,330
1$1,3302$1,3953$1,4504$1,4505$1,495
$1,495
RENT COMPS ANALYSIS
  • 413 Hidden Cellars Drive Holly Springs, NC 1
    • 3 beds 2 baths ∙ 1,326 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,326 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $1,330
    • $1.00
    •  
  • 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
    •  
  • 100 Crossfire Road Holly Springs, NC 3
    • 3 beds 2 baths ∙ 1,453 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,453 Sqft ∙ Built 1997
    LEASED 07/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.00
    •  
  • 312 Cline Falls Drive Holly Springs, NC 4
    • 3 beds 3 baths ∙ 1,440 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,440 Sqft ∙ Built 2006
    LEASED 09/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $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
Verria Hairston
1.919.679.9883
Opendoor Brokerage Llc
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2360009
Last Updated: 01/06/2021
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