Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

505 W Holloway Drive Woodruff, SC 29388

5 Beds 3 Baths - sqft Built 2014

INVESTimate

$289,900

List Price

$1,960

$1,764 - $2,156

Rent Est.

$295,321  ( +1.87%)   1 YR EST. FORECAST

PROPERTY INFO

August 24, 2020 RECENTLY ADDED
FACTS
  • Built In 2014
  • Price/Sqft : $110.82
  • 3 Days on Market
  • MLS # : 1425747
  • Updated Date : 08/24/2020 at 20:36
CONSTRUCTION
  • Beds : 5
  • Floor Size : '-'
  • Baths : 3 full
Listing Agent

Bhhs C Dan Joyner - Sptbg

Listing Agent's Description

Gorgeous 5 Bedroom, 3 Bath home with fenced yard, upgraded stainless appliances, renovated Master Bath in convenient location is Better Than New! This home has so much to offer in a gated, sidewalk neighborhood near Tyger River Park, shops & dining and is centrally located between Greenville & Spartanburg. The covered front porch welcomes you to the 2 Story Foyer with a gorgeous new chandelier. To the left is a large dining room with coffered ceilings, bay window and new light fixture. To the right is a Flex Room that is perfect for an office, playroom, formal living room or den. Straight ahead is the hallway that leads to the Family Room, Kitchen & Breakfast Area. The Kitchen has granite countertops, pantry & new, upgraded Stainless Appliances, including gas stove, for the chef in the family! There is plenty of eating space including the additional breakfast area with new lighting and Kitchen Bar seating. The largeFamily Room has a gorgeous stone fireplace with gas logs for cozy nights. Also on the main floor is a bedroom with a full bath for guests or an in-law suite. Upstairs you will find a Huge Master Suite which has a private sitting room/den/office, Two Walk-in Closets and an updated Master Bath! This renovated, spa-like Master Bath has a custom tile shower with glass door, soaker tub, double vanity and gorgeous tile flooring throughout! Also upstairs are 3 additional Bedrooms and walk-in Laundry Room for easy access. Also enjoy the fenced backyard that includes a covered patio, storage building and thick, established grass that you will make you want to walk barefoot! This beautiful home has so many extras to offer with fresh paint, additional crown molding, new light fixtures, new appliances,new Master Bath and is move-in ready!!

SEE MORE

PRICE & RENT TRENDS

Zip Code: 29388

ZipNIR Market*CityMarket2010Year2000201960k70k80k90k100k110k120k130k140kPrice in $53k149k

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

Zip Code: 29388

ZipNIR Market*CityMarket2010Year20002019 Q2600700800900100011001200Rent in $5221261

* 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
Berry Shoals Intermediate School Primary Regular 575 42 8
Berry Shoals Intermediate School Middle Regular 575 42 8
James F. Byrnes Freshman Academy High Regular 608 32 7

Berry Shoals Intermediate School

  • Education Level: Primary
  • # of students: 575
  • # of teachers: 42
8
GreatSchools Rating

Berry Shoals Intermediate School

  • Education Level: Middle
  • # of students: 575
  • # of teachers: 42
8
GreatSchools Rating

James F. Byrnes Freshman Academy

  • Education Level: High
  • # of students: 608
  • # of teachers: 32
7
GreatSchools Rating
 

$260,910$318,890$289,900

PURCHASE PRICE

$1,764$2,156$1,960

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$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,960
EXPENSES Loan Payment -$1,070
Property Tax -$318
Property Insurance -$75
Property Management Fees -$157
CASH FLOW
$340

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 16% of earned rent to cover both maintenance and periods of vacancy.

$289,900

PROJECTED PRICE

$1,960

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.52%
Appreciation Year (1-5) 1.87%
Maintenance Year (1-5) 8.00%
Vacancy 7.90%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,574

INVESTMENT

$82,574

Down Payment
$72,475
Rehab Estimate
$5,750
Closing Costs
$4,349

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,070

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $72,475
Loan Amount $217,425
See What Happens When You Reinvest Cash Flow

10.17

YEARS SAVED

$50,867

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,960

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $1,779

    COMP ESTIMATED VALUE
  • $0.68

    COMP AVG. RENT PER SQFT
Comps Range
$1,675
1$1,6752$1,9503$1,960
$1,960
RENT COMPS ANALYSIS
* Sqft is provided from public sources
  • 505 W Holloway Drive Woodruff, 3
    • 5 beds 3 baths ∙ 2,616 Sqft ∙ Built 2014 5 beds 3 baths ∙ 2,616 Sqft ∙ Built 2014
    • Rent
    • Rent Per SQFT
    •  
    • $1,960
    • $0.75
    •  
  • 343 Deer Chase Drive Duncan, 1
    • 4 beds 3 baths ∙ 2,886 Sqft ∙ Built 4 beds 3 baths ∙ 2,886 Sqft ∙ Built
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.58
    •  
  • 169 Northwild Drive Duncan, 2
    • 5 beds 3 baths ∙ 2,512 Sqft ∙ Built 5 beds 3 baths ∙ 2,512 Sqft ∙ Built
    LEASED 07/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.78
    •  
PROPERTY LISTING DETAILS
Kathy Ann Crowe
1.864.380.9021
Bhhs C Dan Joyner - Sptbg
Lauren Taylor
1.866.250.5610
Homeunion SC LLC
21064
( GGARMLS)
MLS #: 1425747
Last Updated: 08/24/2020
BESbswy