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515 Shambley Road Mebane, NC 27302

4 Beds 2 Baths 1,720 sqft Built 2008

$220,000

List Price

$1,610

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2008
  • Price/Sqft : $127.91
  • 3 Days on Market
  • MLS # : 2360809
  • Updated Date : 01/09/2021 at 23:34
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,720 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

COUNTRY FEEL WITH CITY CONVENIENCE. This home is nestled on over 1/2 of an acre, with a split floor plan consisting of 4 bedrooms and 2 full bathrooms. Located minutes from the interstate and minutes away from Tanger Outlets, shopping, and dining. Bring a little TLC and make this home yours or add to your portfolio.

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)
  • 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

ZipNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190kPrice in $88k192k

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

Zip Code: 27302

ZipNIR Market*CityMarket2010Year2000 Q32019 Q28509009501000105011001150120012501300Rent in $8461332

* 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
Efland-cheeks Elementary School Primary Regular 435 37 5
Gravelly Hill Middle School Middle Regular 495 38 4
Orange High School High Regular 1,305 79 7

Efland-cheeks Elementary School

  • Education Level: Primary
  • # of students: 435
  • # of teachers: 37
5
GreatSchools Rating

Gravelly Hill Middle School

  • Education Level: Middle
  • # of students: 495
  • # of teachers: 38
4
GreatSchools Rating

Orange High School

  • Education Level: High
  • # of students: 1,305
  • # of teachers: 79
7
GreatSchools Rating
 

$198,000$242,000$220,000

PURCHASE PRICE

$1,449$1,771$1,610

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,610
EXPENSES Loan Payment -$764
Property Tax -$169
Property Insurance -$59
Property Management Fees -$119
CASH FLOW
$499

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.

$220,000

PROJECTED PRICE

$1,610

PROJECTED RENT

0.73%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.65%
Appreciation Year (1-5) 4.4%
Maintenance Year (1-5) 8.00%
Vacancy 6.80%
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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$64,050

INVESTMENT

$64,050

Down Payment
$55,000
Rehab Estimate
$5,750
Closing Costs
$3,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$764

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $55,000
Loan Amount $165,000
See What Happens When You Reinvest Cash Flow

14.67

YEARS SAVED

$53,828

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,610

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,462

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,3003$1,610
$1,610
RENT COMPS ANALYSIS
  • 515 Shambley Road Mebane, NC 3
    • 4 beds 2 baths ∙ 1,720 Sqft ∙ Built 2008 4 beds 2 baths ∙ 1,720 Sqft ∙ Built 2008
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,610
    • $0.94
    •  
  • 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
Teresa Brooks
1.919.638.1038
Keller Williams Realty
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2360809
Last Updated: 01/09/2021
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