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

4520 Barrington Hills Lane Garner, NC 27529

3 Beds 3 Baths 2,077 sqft Built 2006

$285,000

List Price

$1,590

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $137.22
  • 4 Days on Market
  • MLS # : 2369009
  • Updated Date : 02/26/2021 at 19:46
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,077 sqft
  • Baths : 2 full , 1 half
Listing Agent

Linda Craft & Team, Realtors

Listing Agent's Description

Spacious 3 bedroom home on large .69-acre lot. New roof 2021, HVAC 2yrs & 5 yrs), new engineered wood flrs & SS appliances 2019. Spacious master with walk-in closet, private bath w/dual vanity, sep tub & shower. Gas log fireplace, smooth ceilings, Relax on the rocking chair front porch. New guest bath vanity & granite countertop. Bonus rm wired for surround. Finished garage. Oversized deck. Convenient to White Oak Shopping Center & Lake Benson

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: Barrington Hills

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $107k271k

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

Neighborhood: Barrington Hills

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q29001000110012001300140015001600Rent in $8231678

* 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
Bryan Road Elementary Primary Unknown NA
East Garner Middle School Middle Magnet 1,361 83 4
South Garner High School High Unknown NA

Bryan Road Elementary

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

East Garner Middle School

  • Education Level: Middle
  • # of students: 1,361
  • # of teachers: 83
4
GreatSchools Rating

South Garner High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

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

PURCHASE PRICE

$1,431$1,749$1,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,590
EXPENSES Loan Payment -$990
Property Tax -$230
Property Insurance -$68
Property Management Fees -$119
CASH FLOW
$183

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

$1,590

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 4.9%
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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

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.

$990

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $71,250
Loan Amount $213,750
See What Happens When You Reinvest Cash Flow

9

YEARS SAVED

$34,825

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,590

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $1,604

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,5753$1,5904$1,6755$1,675
$1,675
RENT COMPS ANALYSIS
  • 4520 Barrington Hills Lane Garner, NC 3
    • 3 beds 3 baths ∙ 2,077 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,077 Sqft ∙ Built 2006
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,590
    • $0.77
    •  
  • 27 N Ringneck Place Garner, NC 1
    • 3 beds 3 baths ∙ 2,110 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,110 Sqft ∙ Built 2003
    property image
    LEASED 01/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.71
    •  
  • 304 Marsh Creek Drive Garner, NC 2
    • 3 beds 3 baths ∙ 2,000 Sqft ∙ Built 2015 3 beds 3 baths ∙ 2,000 Sqft ∙ Built 2015
    property image
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.79
    •  
  • 533 Summerwind Plantation Drive Garner, NC 4
    • 4 beds 3 baths ∙ 2,253 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,253 Sqft ∙ Built 2018
    property image
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.74
    •  
  • 4613 Barrington Hills Lane Garner, NC 5
    • 4 beds 3 baths ∙ 1,964 Sqft ∙ Built 2006 4 beds 3 baths ∙ 1,964 Sqft ∙ Built 2006
    property image
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.85
    •  
PROPERTY LISTING DETAILS
Linda Craft
1.919.235.0007
Linda Craft & Team, Realtors
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2369009
Last Updated: 02/26/2021
BESbswy