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415 Stapleford Lane Fuquay Varina, NC 27526

4 Beds 3 Baths 2,248 sqft Built 2013

$285,000

List Price

$1,710

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 2013
  • Price/Sqft : $126.78
  • 4 Days on Market
  • MLS # : 2352308
  • Updated Date : 11/05/2020 at 22:28
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,248 sqft
  • Baths : 2 full , 1 half
Listing Agent

Fathom Realty Nc, Llc

Listing Agent's Description

Spacious, 4 bedroom home conveniently less than 1/2 mile from the quaint shops and restaurants of downtown Fuquay, and just a few minutes down the road from Raleigh. This stunner includes gorgeous custom built-ins with tons of storage. Entire main floor is hardwood. The fenced backyard is one of the largest in the entire neighborhood. Owner suite is a light-filled retreat, with an enormous walk-in closet with custom organizational system. Lots of flex space, including a loft upstairs.

SEE MORE

MARKET HIGHLIGHTS

  • #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)
  • 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: Summerdale

NeighborhoodNIR Market*CityMarket2010Year20002019140k150k160k170k180k190k200k210k220k230k240k250k260kPrice in $132k270k

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

Neighborhood: Summerdale

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q29501000105011001150120012501300135014001450150015501600Rent in $9461625

* 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
Lincoln Heights Elementary School Primary Magnet 517 40 3
Holly Grove Middle School Middle Regular 1,439 81 8
Fuquay-varina High School High Regular 2,117 114 7

Lincoln Heights Elementary School

  • Education Level: Primary
  • # of students: 517
  • # of teachers: 40
3
GreatSchools Rating

Holly Grove Middle School

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

Fuquay-varina High School

  • Education Level: High
  • # of students: 2,117
  • # of teachers: 114
7
GreatSchools Rating
 

$256,500$313,500$285,000

PURCHASE PRICE

$1,539$1,881$1,710

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,710
EXPENSES Loan Payment -$1,052
Property Tax -$237
Property Insurance -$71
HOA -$21
Property Management Fees -$154
CASH FLOW
$176

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.

$285,000

PROJECTED PRICE

$1,710

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 5.1%
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$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

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$81,275

INVESTMENT

$81,275

Down Payment
$71,250
Rehab Estimate
$5,750
Closing Costs
$4,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,052

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $71,250
Loan Amount $213,750
See What Happens When You Reinvest Cash Flow

7.67

YEARS SAVED

$34,415

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,710

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $1,708

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6503$1,6504$1,7105$1,750
$1,750
RENT COMPS ANALYSIS
  • 415 Stapleford Lane Fuquay Varina, NC 4
    • 4 beds 3 baths ∙ 2,248 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,248 Sqft ∙ Built 2013
    • Rent
    • Rent Per SQFT
    •  
    • $1,710
    • $0.76
    •  
  • 612 Eppsfield Lane Fuquay Varina, NC 1
    • 4 beds 3 baths ∙ 2,210 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,210 Sqft ∙ Built 2020
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.75
    •  
  • 138 Wedmore Drive Fuquay Varina, NC 2
    • 4 beds 3 baths ∙ 2,210 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,210 Sqft ∙ Built 2020
    LEASED 10/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.75
    •  
  • 142 Wedmore Drive Fuquay Varina, NC 3
    • 4 beds 3 baths ∙ 2,210 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,210 Sqft ∙ Built 2020
    LEASED 11/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.75
    •  
  • 112 Dunster Drive Fuquay Varina, NC 5
    • 4 beds 3 baths ∙ 2,205 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,205 Sqft ∙ Built 2020
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.79
    •  
PROPERTY LISTING DETAILS
Crystal Treece
1.919.630.2870
Fathom Realty Nc, Llc
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2352308
Last Updated: 11/05/2020
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