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51 Brazil Nut Lane Smithfield, NC 27577

3 Beds 3 Baths 2,267 sqft Built 2011

$285,000

List Price

$1,580

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2011
  • Price/Sqft : $125.72
  • 3 Days on Market
  • MLS # : 2356548
  • Updated Date : 12/06/2020 at 03:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,267 sqft
  • Baths : 3 full
Listing Agent

Hometowne Realty

Listing Agent's Description

Come see this inviting home in Maplewood Run, located conveniently off 1010. This home has wonderful curb appeal with it's large landscaped yard. You will love the openness & flow of this well taken care of home that has been painted with neutral colors throughout. The spacious master suite has a vaulted ceiling for that open airy feeling. It also has a large WIC & double vanities. The large finished bonus room on the 2nd level comes complete with a full bath to offer added flex space everyone needs.

SEE MORE

MARKET HIGHLIGHTS

  • Major employers in Raleigh area: IBM, Cisco systems, Fidelity Investments, GlaxoSmithKline, RTI International
  • One of Top 10 cities for Small Business Friendliness (Thumbtack, 2018)
  • #7 Best Big City for Jobs 2018 (Forbes, 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)
  • 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

Neighborhood: Maplewood Run

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $99k265k

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

Neighborhood: Maplewood Run

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2900100011001200130014001500Rent in $8181595

* 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
Polenta Elementary School Primary Regular 1,011 66 6
Swift Creek Middle School Middle Regular NA
Cleveland High School High Regular 1,468 80 6

Polenta Elementary School

  • Education Level: Primary
  • # of students: 1,011
  • # of teachers: 66
6
GreatSchools Rating

Swift Creek Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Cleveland High School

  • Education Level: High
  • # of students: 1,468
  • # of teachers: 80
6
GreatSchools Rating
 

$256,500$313,500$285,000

PURCHASE PRICE

$1,422$1,738$1,580

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,580
EXPENSES Loan Payment -$1,052
Property Tax -$181
Property Insurance -$71
HOA -$13
Property Management Fees -$119
CASH FLOW
$145

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.

$285,000

PROJECTED PRICE

$1,580

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 4.3%
Maintenance Year (1-5) 8.00%
Vacancy 7.47%
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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$81,275

INVESTMENT

$81,275

Down Payment
$71,250
Rehab Estimate
$5,750
Closing Costs
$4,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,052

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $71,250
Loan Amount $213,750
See What Happens When You Reinvest Cash Flow

8.42

YEARS SAVED

$37,386

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,580

    LIST RENT
  • $0.7

    LIST RENT PER SQFT
  • $1,610

    COMP ESTIMATED VALUE
  • $0.71

    COMP AVG. RENT PER SQFT
Comps Range
$1,580
1$1,5802$1,645
$1,645
RENT COMPS ANALYSIS
  • 51 Brazil Nut Lane Smithfield, NC 1
    • 3 beds 3 baths ∙ 2,267 Sqft ∙ Built 2011 3 beds 3 baths ∙ 2,267 Sqft ∙ Built 2011
    • Rent
    • Rent Per SQFT
    •  
    • $1,580
    • $0.70
    •  
  • 129 Rustic Lane Smithfield, NC 2
    • 3 beds 3 baths ∙ 2,324 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,324 Sqft ∙ Built 2005
    LEASED 09/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,645
    • $0.71
    •  
PROPERTY LISTING DETAILS
Becky Lawrence
1.919.291.1253
Hometowne Realty
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2356548
Last Updated: 12/06/2020
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