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

44 Alder Creek Court #LOT 202 (OAK/C) Clayton, NC 27527

3 Beds 3 Baths 1,857 sqft Built 2021

$279,900

List Price

$1,390

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
December 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $150.73
  • 7 Days on Market
  • MLS # : 2357829
  • Updated Date : 12/14/2020 at 19:06
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,857 sqft
  • Baths : 2 full , 1 half
Listing Agent

Davidson Homes Realty, Llc

Listing Agent's Description

Davidson Homes Oak Design! Move-in May 2021! All options included in the price. Spa shower, dual sinks 2nd bath, crawl foundation. Kitchen complete w/quartz tops, SS GE appliance package, single undermount SS sink & island. Engineered vinyl plank by Shaw throughout main level of home. Enhanced front elevation featuring stone & covered entry. Great value for Sierra Heights! Washer, Dryer and Refrigerator included if signed in December!

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
  • #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)

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
 

$251,910$307,890$279,900

PURCHASE PRICE

$1,251$1,529$1,390

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,390
EXPENSES Loan Payment -$1,033
Property Tax -$189
Property Insurance -$63
HOA -$9
Property Management Fees -$119
CASH FLOW
-$23

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$279,900

PROJECTED PRICE

$1,390

PROJECTED RENT

0.50%

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) 3.00%
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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$76,174

INVESTMENT

$76,174

Down Payment
$69,975
Rehab Estimate
$2,000
Closing Costs
$4,199

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,033

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $69,975
Loan Amount $209,925
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$19,365

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,390

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $1,416

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$1,390
1$1,3902$1,4503$1,5954$1,6755$1,675
$1,675
RENT COMPS ANALYSIS
  • 44 Alder Creek Court Clayton, NC 1
    • 3 beds 3 baths ∙ 1,857 Sqft ∙ Built 2021 3 beds 3 baths ∙ 1,857 Sqft ∙ Built 2021
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,390
    • $0.75
    •  
  • 139 Woodglen Drive Clayton, NC 2
    • 3 beds 3 baths ∙ 1,872 Sqft ∙ Built 2008 3 beds 3 baths ∙ 1,872 Sqft ∙ Built 2008
    property image
    LEASED 09/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.77
    •  
  • 200 Reno Court Clayton, NC 3
    • 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
    •  
  • 29 Montalto Court Clayton, NC 4
    • 4 beds 3 baths ∙ 2,180 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,180 Sqft ∙ Built 2019
    property image
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.77
    •  
  • 1200 Neuse Ridge Drive Clayton, NC 5
    • 4 beds 6 baths ∙ 2,180 Sqft ∙ Built 2005 4 beds 6 baths ∙ 2,180 Sqft ∙ Built 2005
    property image
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.77
    •  
PROPERTY LISTING DETAILS
Roberta Forbes
1.919.208.8003
Davidson Homes Realty, Llc
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2357829
Last Updated: 12/14/2020
BESbswy