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505 Bayberry Ridge Court Greer, SC 29651

4 Beds 3 Baths - sqft Built 1999

$249,900

List Price

$1,570

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 1999
  • Price/Sqft : $155.41
  • 4 Days on Market
  • MLS # : 1431106
  • Updated Date : 11/05/2020 at 18:29
CONSTRUCTION
  • Beds : 4
  • Floor Size : '-'
  • Baths : 2 full , 1 half
Listing Agent

Premier Homes Realty, Llc

Listing Agent's Description

HIGHLY SOUGHT AFTER RIVERSIDE HIGH SCHOOL COMMUNITY!! Beautiful, 4BR 2.5BA well maintained cul-de-sac home zoned for Riverside High School is ready to welcome its new family. The home has a beautiful brick veneer elevation and is postioned on almost a third of an acre. You'll enjoy sitting on the deck that overlooks the tree-lined back yard...just perfect for your own private oasis for entertaining or simply relaxing. You will fall in love with the nicely sized owner's suite, spacious upgraded masterbath with dual vanities, custom separate shower and garden tub. The Bent Creek Plantation Subdivision offers the following amenities: two tennis courts, an Olympic size pool, a spacious club house and common areas. The community is conveniently located to shopping, hospitals, restaurants, the airport and minutes from I-85! Schedule a showing today!

SEE MORE

PRICE & RENT TRENDS

Zip Code: 29651

ZipNIR Market*CityMarket2010Year2000201980k90k100k110k120k130k140k150k160k170k180k190k200k210kPrice in $79k217k

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

Zip Code: 29651

ZipNIR Market*CityMarket2010Year20002019 Q2950100010501100115012001250130013501400145015001550Rent in $9171558

* 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
Woodland Elementary School Primary Regular 1,087 60 9
Riverside Middle School Middle Regular 1,130 63 10
Riverside High School High Regular 1,646 82 7

Woodland Elementary School

  • Education Level: Primary
  • # of students: 1,087
  • # of teachers: 60
9
GreatSchools Rating

Riverside Middle School

  • Education Level: Middle
  • # of students: 1,130
  • # of teachers: 63
10
GreatSchools Rating

Riverside High School

  • Education Level: High
  • # of students: 1,646
  • # of teachers: 82
7
GreatSchools Rating
 

$224,910$274,890$249,900

PURCHASE PRICE

$1,413$1,727$1,570

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,570
EXPENSES Loan Payment -$922
Property Tax -$471
Property Insurance -$57
Property Management Fees -$126
CASH FLOW
-$5

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.

$249,900

PROJECTED PRICE

$1,570

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.16%
Appreciation Year (1-5) 4.1%
Maintenance Year (1-5) 8.00%
Vacancy 6.54%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$71,974

INVESTMENT

$71,974

Down Payment
$62,475
Rehab Estimate
$5,750
Closing Costs
$3,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$922

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,475
Loan Amount $187,425
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$9,232

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,570

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $1,619

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,5703$1,5954$1,600
$1,600
RENT COMPS ANALYSIS
* Sqft is provided from public sources
  • 505 Bayberry Ridge Court Greer, SC 2
    • 4 beds 3 baths ∙ 1,608 Sqft ∙ Built 1999 4 beds 3 baths ∙ 1,608 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $1,570
    • $0.98
    •  
  • 212 Marcie Rush Lane Greer, SC 1
    • 3 beds 2 baths ∙ 1,525 Sqft ∙ Built 3 beds 2 baths ∙ 1,525 Sqft ∙ Built
    LEASED 05/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.95
    •  
  • 323 Thornbush Court Greer, SC 3
    • 3 beds 2 baths ∙ 1,570 Sqft ∙ Built 3 beds 2 baths ∙ 1,570 Sqft ∙ Built
    LEASED 02/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.02
    •  
  • 754 Waterbrook Lane Greer, SC 4
    • 3 beds 3 baths ∙ 1,518 Sqft ∙ Built 3 beds 3 baths ∙ 1,518 Sqft ∙ Built
    LEASED 01/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.05
    •  
PROPERTY LISTING DETAILS
Nikki Rountree
1.864.399.3131
Premier Homes Realty, Llc
Lauren Taylor
1.866.250.5610
Homeunion SC LLC
21064
( GGARMLS)
MLS #: 1431106
Last Updated: 11/05/2020
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