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495 Cheves Road Zebulon, NC 27597

4 Beds 3 Baths 2,225 sqft Built 2020

INVESTimate

$299,900

List Price

$1,630

$1,467 - $1,793

Rent Est.

$313,665  ( +4.59%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $134.79
  • 8 Days on Market
  • MLS # : 2338006
  • Updated Date : 08/20/2020 at 00:53
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,225 sqft
  • Baths : 2 full , 1 half
Listing Agent

Amg Realty Llc

Listing Agent's Description

Gorgeous NEW Construction (Presale Opportunity - Not Built) Fantastic Zebulon Location. Great Open Floor plan w/ 4 bedrooms upstairs.Separate Dining Room w/ bay windows. Trey ceilings. Back Deck. Granite Counter tops and island in kitchen w/ walk in pantry. SS range, dishwasher, and microwave. Fireplace. Marble counter top in MB w/ separate tub and shower. 2 car garage w/mud room. No HOA on almost an acre lot! Don't Miss this Opportunity to Make your Own Selections and Let's do a Deal!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 27597

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $106k265k

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

Zip Code: 27597

ZipNIR Market*CityMarket2010Year2000 Q22019 Q2800900100011001200130014001500Rent in $7591595

* 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
Bunn Elementary School Primary Regular 689 47 4
Bunn Middle School Middle Regular 706 41 7
Bunn High School High Regular 861 54 5

Bunn Elementary School

  • Education Level: Primary
  • # of students: 689
  • # of teachers: 47
4
GreatSchools Rating

Bunn Middle School

  • Education Level: Middle
  • # of students: 706
  • # of teachers: 41
7
GreatSchools Rating

Bunn High School

  • Education Level: High
  • # of students: 861
  • # of teachers: 54
5
GreatSchools Rating
 

$269,910$329,890$299,900

PURCHASE PRICE

$1,467$1,793$1,630

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$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$700k$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,630
EXPENSES Loan Payment -$1,107
Property Tax -$210
Property Insurance -$71
Property Management Fees -$147
CASH FLOW
$97

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.

$299,900

PROJECTED PRICE

$1,630

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 4.59%
Maintenance Year (1-5) 3.00%
Vacancy 7.47%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$81,474

INVESTMENT

$81,474

Down Payment
$74,975
Rehab Estimate
$2,000
Closing Costs
$4,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $74,975
Loan Amount $224,925
See What Happens When You Reinvest Cash Flow

6.58

YEARS SAVED

$28,426

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,630

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $1,580

    COMP ESTIMATED VALUE
  • $0.71

    COMP AVG. RENT PER SQFT
Comps Range
$1,630
1$1,6302$1,800
$1,800
RENT COMPS ANALYSIS
  • 495 Cheves Road Zebulon, 1
    • 4 beds 3 baths ∙ 2,225 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,225 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,630
    • $0.73
    •  
  • 218 Sacred Fire Road Louisburg, 2
    • 3 beds 3 baths ∙ 2,534 Sqft ∙ Built 2015 3 beds 3 baths ∙ 2,534 Sqft ∙ Built 2015
    property image
    LEASED 07/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.71
    •  
PROPERTY LISTING DETAILS
Adam Grossman
1.919.451.5717
Amg Realty Llc
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2338006
Last Updated: 08/20/2020
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