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PROPERTY INFO
FACTS
- Single Family
- Built In 2020
- Price/Sqft : $171.52
- 28 Days on Market
- MLS # : 2358009
- Updated Date : 01/01/2021 at 18:10
CONSTRUCTION
- Beds : 3
- Floor Size : 1,702 sqft
- Baths : 2 full , 1 half
Listing Agent
San Marco Inc.
Listing Agent's Description
The open concept layout & kitchen island lends itself to being the home's gathering place, with 9' ceilings downstairs and tall windows the open floor plan is bright & cheery. When you're ready to get outside, enjoy either the covered front porch or covered rear patio. You'll love the Luxury Vinyl Plank flooring throughout the first floor. Kitchen has quartz counter-tops, back-splash and stainless steel appliances.
SEE MORE
- 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)
- #7 Best Big City for Jobs 2018 (Forbes, 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
Zip Code: 27302
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 27302
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,450 |
| EXPENSES | Loan Payment | -$1,014 |
| Property Tax | -$225 | |
| Property Insurance | -$59 | |
| HOA | -$67 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
-$33
|
||
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.
$291,932
PROJECTED PRICE
$1,450
PROJECTED RENT
0.50%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 2.65% |
| Appreciation Year (1-5) | 4.4% |
| Maintenance Year (1-5) | 3.00% |
| Vacancy | 6.80% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$79,362
LOAN DETAILS
$1,014
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $72,983 |
| Loan Amount | $218,949 |
4.08
YEARS SAVED
$10,968
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,450
LIST RENT -
$0.85
LIST RENT PER SQFT
-
$1,447
COMP ESTIMATED VALUE -
$0.85
COMP AVG. RENT PER SQFT
Comps Range
-
505 Kayak Court Mebane, NC 3
- 3 beds 3 baths ∙ 1,702 Sqft ∙ Built 2020 3 beds 3 baths ∙ 1,702 Sqft ∙ Built 2020
![property image]()
- Rent
- Rent Per SQFT
- $1,450
- $0.85
-
607 Widgeon Way Mebane, NC 1
- 3 beds 2 baths ∙ 1,410 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,410 Sqft ∙ Built 2015
![property image]()
LEASED 07/28/19- Rent
- Rent Per SQFT
- $1,250
- $0.89
-
510 E Webb Mebane, NC 2
- 3 beds 2 baths ∙ 1,596 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,596 Sqft ∙ Built 2000
![property image]()
LEASED 12/19/20- Rent
- Rent Per SQFT
- $1,300
- $0.81
PROPERTY LISTING DETAILS
1.919.868.1840
San Marco Inc.
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
MLS #: 2358009
Last Updated: 01/01/2021
