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42 Nevada Court Clayton, NC 27527

4 Beds 3 Baths 2,262 sqft Built 2017

$235,000

List Price

$1,440

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $103.89
  • 3 Days on Market
  • MLS # : 2354642
  • Updated Date : 11/21/2020 at 11:46
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,262 sqft
  • Baths : 2 full , 1 half
Listing Agent

Howard Perry And Walston Realtor

Listing Agent's Description

Check out this beauty!! This home features 4 bathrooms, 2 and a half baths, two storage sheds, and newer laminate flooring on the entire lower level!!! Spend your time entertaining on your oversized deck and patio, overlooking the spacious fenced yard. Extra driveway space for convenience. Updated bathrooms throughout! This home boasts both style AND function! Lower HOA and great location for commuters.

SEE MORE

MARKET HIGHLIGHTS

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

PRICE & RENT TRENDS

Zip Code: 27527

ZipNIR Market*CityMarket2010Year20002019140k150k160k170k180k190k200k210k220k230k240k250k260kPrice in $131k265k

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

Zip Code: 27527

ZipNIR Market*CityMarket2010Year2000 Q22019 Q295010001050110011501200125013001350140014501500155016001650Rent in $9461678

* 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
Powhatan Elementary School Primary Regular 565 35 6
Riverwood Middle School Middle Regular 1,149 64 7
Clayton High School High Regular 1,512 85 5

Powhatan Elementary School

  • Education Level: Primary
  • # of students: 565
  • # of teachers: 35
6
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
 

$211,500$258,500$235,000

PURCHASE PRICE

$1,296$1,584$1,440

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,440
EXPENSES Loan Payment -$867
Property Tax -$149
Property Insurance -$71
HOA -$8
Property Management Fees -$130
CASH FLOW
$215

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.

$235,000

PROJECTED PRICE

$1,440

PROJECTED RENT

0.61%

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$700k$800k

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$68,025

INVESTMENT

$68,025

Down Payment
$58,750
Rehab Estimate
$5,750
Closing Costs
$3,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$867

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $58,750
Loan Amount $176,250
See What Happens When You Reinvest Cash Flow

9.5

YEARS SAVED

$37,193

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,440

    LIST RENT
  • $0.64

    LIST RENT PER SQFT
  • $1,572

    COMP ESTIMATED VALUE
  • $0.7

    COMP AVG. RENT PER SQFT
Comps Range
$1,440
1$1,4402$1,5003$1,5754$1,5955$1,745
$1,745
RENT COMPS ANALYSIS
  • 42 Nevada Court Clayton, NC 1
    • 4 beds 3 baths ∙ 2,262 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,262 Sqft ∙ Built 2017
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,440
    • $0.64
    •  
  • 150 Nevada Court Clayton, NC 2
    • 4 beds 3 baths ∙ 2,305 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,305 Sqft ∙ Built 2016
    property image
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.65
    •  
  • 222 Badger Pass Drive Clayton, NC 3
    • 4 beds 3 baths ∙ 2,410 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,410 Sqft ∙ Built 2017
    property image
    LEASED 10/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.65
    •  
  • 200 Reno Court Clayton, NC 4
    • 3 beds 3 baths ∙ 2,151 Sqft ∙ Built 2016 3 beds 3 baths ∙ 2,151 Sqft ∙ Built 2016
    property image
    LEASED 09/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.74
    •  
  • 151 National Drive Clayton, NC 5
    • 4 beds 3 baths ∙ 2,359 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,359 Sqft ∙ Built 2017
    property image
    LEASED 09/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,745
    • $0.74
    •  
PROPERTY LISTING DETAILS
Christy Mangum
1.919.744.5184
Howard Perry And Walston Realtor
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2354642
Last Updated: 11/21/2020
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