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5 Darnell Lane Greenville, SC 29609

3 Beds 2 Baths - sqft Built 2018

INVESTimate

$279,000

List Price

$1,580

$1,422 - $1,738

Rent Est.

$296,019  ( +6.10%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 2018
  • Price/Sqft : $160.99
  • 23 Days on Market
  • MLS # : 1424163
  • Updated Date : 08/20/2020 at 17:52
CONSTRUCTION
  • Beds : 3
  • Floor Size : '-'
  • Baths : 2 full
Listing Agent

Advisor Real Estate Services

Listing Agent's Description

CUSTOM BUILT RANCH HOME.....3 bedroom/2 bath MOVE IN READY home within minutes of Downtown Greenville shopping, restaurants, and entertainment. Located in an established subdivision with NO HOA, this home is a must see! Step through the front door into wide plank hardwoods throughout the main living area with OPEN CONCEPT living room, kitchen, and dining area. High ceilings make this home spacious and perfect for entertaining friends and family. The custom kitchen boasts stainless appliances including an over sized stainless FARMHOUSE SINK, large island with butcher block sit up bar, GRANITE counter tops, and plenty of cabinets for storage. All appliances convey including the refrigerator, washer, and dryer. Roomy master suite includes custom master bath with double vanities, custom mirrors, spacious master shower with porcelain floor and bench seat, as well as separate watering closet. Master currently has a floating headboard and side tables that remain. Master closet has custom shelving for optimal storage. There are two guest bedrooms with full bath to share and ample closet space in each. Step onto the 12x12 outdoor deck where you can BBQ with friends and enjoy the cooler evenings in the fall, or drink your morning coffee. Crawl space is tall and can be used for more storage if needed. Owner has added gravel drive on the side of the house to the back for easy access or more storage for vehicles if needed. Located right in the heart of Greenville close to Downtown Greenville, Paris Mountain State Park, and Furman University.... this home will not last long!

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PRICE & RENT TRENDS

Zip Code: 29609

ZipNIR Market*CityMarket2010Year2000201980k90k100k110k120k130k140k150k160k170k180k190k200k210k220kPrice in $79k221k

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

Zip Code: 29609

ZipNIR Market*CityMarket2010Year20002019 Q280085090095010001050110011501200125013001350Rent in $7911391

* 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
Paris Elementary School Primary Regular 639 37 9
Sevier Middle School Middle Regular 628 38 7
Wade Hampton High School High Regular 1,656 84 7

Paris Elementary School

  • Education Level: Primary
  • # of students: 639
  • # of teachers: 37
9
GreatSchools Rating

Sevier Middle School

  • Education Level: Middle
  • # of students: 628
  • # of teachers: 38
7
GreatSchools Rating

Wade Hampton High School

  • Education Level: High
  • # of students: 1,656
  • # of teachers: 84
7
GreatSchools Rating
 

$251,100$306,900$279,000

PURCHASE PRICE

$1,422$1,738$1,580

RENT

DOWN PAYMENT
FINANCING

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-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

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 $1,580
EXPENSES Loan Payment -$1,029
Property Tax -$422
Property Insurance -$59
Property Management Fees -$126
CASH FLOW
-$57

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.

$279,000

PROJECTED PRICE

$1,580

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.16%
Appreciation Year (1-5) 6.10%
Maintenance Year (1-5) 8.00%
Vacancy 6.54%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,685

INVESTMENT

$79,685

Down Payment
$69,750
Rehab Estimate
$5,750
Closing Costs
$4,185

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,029

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $69,750
Loan Amount $209,250
See What Happens When You Reinvest Cash Flow

3

YEARS SAVED

$8,132

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,580

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,664

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,580
1$1,5802$1,5953$1,695
$1,695
RENT COMPS ANALYSIS
* Sqft is provided from public sources
  • 5 Darnell Lane Greenville, 1
    • 3 beds 2 baths ∙ 1,733 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,733 Sqft ∙ Built 2018
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,580
    • $0.91
    •  
  • 206 Three Forks Place Greenville, 2
    • 3 beds 2 baths ∙ 1,673 Sqft ∙ Built 3 beds 2 baths ∙ 1,673 Sqft ∙ Built
    property image
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.95
    •  
  • 601 Half Mile Lake Way Greenville, 3
    • 3 beds 3 baths ∙ 1,750 Sqft ∙ Built 3 beds 3 baths ∙ 1,750 Sqft ∙ Built
    property image
    LEASED 02/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.97
    •  
PROPERTY LISTING DETAILS
Darby Bane
1.864.346.5527
Advisor Real Estate Services
Lauren Taylor
1.866.250.5610
Homeunion SC LLC
21064
( GGARMLS)
MLS #: 1424163
Last Updated: 08/20/2020
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