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503 Spring Lake Loop Simpsonville, SC 29681

4 Beds 3 Baths - sqft Built 1993

$299,900

List Price

$1,790

$1.6K - $2K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1993
  • Price/Sqft : $132.00
  • 3 Days on Market
  • MLS # : 1435805
  • Updated Date : 01/23/2021 at 14:46
CONSTRUCTION
  • Beds : 4
  • Floor Size : '-'
  • Baths : 2 full , 1 half
Listing Agent

Re/max Realty Professionals

Listing Agent's Description

to follow

SEE MORE

PRICE & RENT TRENDS

Zip Code: 29681

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $85k259k

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

Zip Code: 29681

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9171760

* 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
Monarch Elementary School Primary Regular 847 46 NA
Mauldin Middle School Middle Regular 1,090 65 8
Mauldin High School High Regular 2,240 108 8

Monarch Elementary School

  • Education Level: Primary
  • # of students: 847
  • # of teachers: 46
NA
GreatSchools Rating

Mauldin Middle School

  • Education Level: Middle
  • # of students: 1,090
  • # of teachers: 65
8
GreatSchools Rating

Mauldin High School

  • Education Level: High
  • # of students: 2,240
  • # of teachers: 108
8
GreatSchools Rating
 

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

PURCHASE PRICE

$1,611$1,969$1,790

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,790
EXPENSES Loan Payment -$1,042
Property Tax -$402
Property Insurance -$69
Property Management Fees -$143
CASH FLOW
$135

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$299,900

PROJECTED PRICE

$1,790

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.42%
Appreciation Year (1-5) 3.4%
Maintenance Year (1-5) 8.00%
Vacancy 6.12%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,224

INVESTMENT

$85,224

Down Payment
$74,975
Rehab Estimate
$5,750
Closing Costs
$4,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,042

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $74,975
Loan Amount $224,925
See What Happens When You Reinvest Cash Flow

6.58

YEARS SAVED

$24,221

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,790

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $1,784

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,7503$1,7904$1,7955$1,795
$1,795
RENT COMPS ANALYSIS
* Sqft is provided from public sources
  • 503 Spring Lake Loop Simpsonville, SC 3
    • 4 beds 3 baths ∙ 2,272 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,272 Sqft ∙ Built 1993
    • Rent
    • Rent Per SQFT
    •  
    • $1,790
    • $0.79
    •  
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    • Rent Per SQFT
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    • 4 beds 3 baths ∙ 2,347 Sqft ∙ Built 4 beds 3 baths ∙ 2,347 Sqft ∙ Built
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    • Rent Per SQFT
    •  
    • $1,795
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  • 613 Spring Lake Loop Simpsonville, SC 5
    • 3 beds 3 baths ∙ 2,288 Sqft ∙ Built 3 beds 3 baths ∙ 2,288 Sqft ∙ Built
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    • Rent
    • Rent Per SQFT
    •  
    • $1,795
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PROPERTY LISTING DETAILS
Milton Shockley
1.864.241.8200
Re/max Realty Professionals
Lauren Taylor
1.866.250.5610
Homeunion SC LLC
21064
( GGARMLS)
MLS #: 1435805
Last Updated: 01/23/2021
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