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PROPERTY INFO
FACTS
- Single Family
- Built In 2014
- Price/Sqft : $143.10
- 3 Days on Market
- MLS # : 2361985
- Updated Date : 01/16/2021 at 14:58
CONSTRUCTION
- Beds : 3
- Floor Size : 1,747 sqft
- Baths : 2 full , 1 half
Listing Agent
Coldwell Banker Advantage
Listing Agent's Description
Spectacular Open Floor Plan...great for Entertaining! Upgraded Hardwood floors in Kitchen and breakfast room, New Carpet throughout 2021, Loft Area provides a great space to work from home, Huge Owners Suite featuring walk in closet & spacious bath with shower & seperate tub, 2-Car garage features attached shelves, nice lot, grilling patio, and neighborhood amenities galore, pools, gym, golf, pond, walking trails, neighborhood Park Shoppes, grocery store, Schools and So Much More! Convenient to Raleigh!
SEE MORE
- 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)
- 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
- Major employers in Raleigh area: IBM, Cisco systems, Fidelity Investments, GlaxoSmithKline, RTI International
- #7 Best Big City for Jobs 2018 (Forbes, 2018)
- One of Top 10 cities for Small Business Friendliness (Thumbtack, 2018)
PRICE & RENT TRENDS
Neighborhood: Riverwood Athletic Club
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Riverwood Athletic Club
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,490 |
| EXPENSES | Loan Payment | -$868 |
| Property Tax | -$256 | |
| Property Insurance | -$61 | |
| HOA | -$72 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$113
|
||
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.
$250,000
PROJECTED PRICE
$1,490
PROJECTED RENT
0.60%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.78% |
| Appreciation Year (1-5) | 4.3% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 7.49% |
| 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
$72,000
LOAN DETAILS
$868
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $62,500 |
| Loan Amount | $187,500 |
7.58
YEARS SAVED
$23,932
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,490
LIST RENT -
$0.85
LIST RENT PER SQFT
-
$1,520
COMP ESTIMATED VALUE -
$0.87
COMP AVG. RENT PER SQFT
Comps Range
-
508 Mccarthy Drive Clayton, NC 1
- 3 beds 3 baths ∙ 1,747 Sqft ∙ Built 2014 3 beds 3 baths ∙ 1,747 Sqft ∙ Built 2014
- Rent
- Rent Per SQFT
- $1,490
- $0.85
-
216 S Kramer Path Clayton, NC 2
- 3 beds 3 baths ∙ 1,751 Sqft ∙ Built 2020 3 beds 3 baths ∙ 1,751 Sqft ∙ Built 2020
LEASED 08/01/20- Rent
- Rent Per SQFT
- $1,550
- $0.89
-
257 Pearson Place Clayton, NC 3
- 4 beds 3 baths ∙ 1,850 Sqft ∙ Built 2019 4 beds 3 baths ∙ 1,850 Sqft ∙ Built 2019
LEASED 07/31/20- Rent
- Rent Per SQFT
- $1,575
- $0.85
-
117 Bobby Ray Court Clayton, NC 4
- 4 beds 3 baths ∙ 1,900 Sqft ∙ Built 2016 4 beds 3 baths ∙ 1,900 Sqft ∙ Built 2016
LEASED 05/28/20- Rent
- Rent Per SQFT
- $1,625
- $0.86
-
308 Pearson Place Clayton, NC 5
- 4 beds 3 baths ∙ 1,850 Sqft ∙ Built 2019 4 beds 3 baths ∙ 1,850 Sqft ∙ Built 2019
LEASED 04/01/20- Rent
- Rent Per SQFT
- $1,625
- $0.88
PROPERTY LISTING DETAILS
1.919.369.9193
Coldwell Banker Advantage
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
MLS #: 2361985
Last Updated: 01/16/2021
