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516 Nature Walk Road Fuquay Varina, NC 27626

3 Beds 3 Baths 2,272 sqft Built 1996

$300,000

List Price

$1,600

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $132.04
  • 3 Days on Market
  • MLS # : 2367835
  • Updated Date : 02/20/2021 at 05:14
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,272 sqft
  • Baths : 2 full , 1 half
Listing Agent

Agent Group Realty

Listing Agent's Description

Nice ranch house in a very desirable area near downtown Fuquay Varina close to everything you need. Recently renovated, fresh paint, sanded and added hardwood floor in great room and living room, new carpet, new beautiful ceiling fans, all new SS appliances, granite counter tops, beautiful recess lights in kitchen, lots of privacy at end of the street, Nice entertaining deck and backyard, etc. Garage transferred to a beautiful living area can be separate suite separate entrance . Do not miss this one.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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
  • #7 Best Big City for Jobs 2018 (Forbes, 2018)
  • Major employers in Raleigh area: IBM, Cisco systems, Fidelity Investments, GlaxoSmithKline, RTI International

PRICE & RENT TRENDS

Neighborhood: Woodland Point

NeighborhoodNIR Market*CityMarket2010Year20002019140k150k160k170k180k190k200k210k220k230k240k250k260kPrice in $132k265k

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

Neighborhood: Woodland Point

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q29001000110012001300140015001600Rent in $8761610

* 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
Lincoln Heights Elementary School Primary Magnet 517 40 3
Holly Grove Middle School Middle Regular 1,439 81 8
Fuquay-varina High School High Regular 2,117 114 7

Lincoln Heights Elementary School

  • Education Level: Primary
  • # of students: 517
  • # of teachers: 40
3
GreatSchools Rating

Holly Grove Middle School

  • Education Level: Middle
  • # of students: 1,439
  • # of teachers: 81
8
GreatSchools Rating

Fuquay-varina High School

  • Education Level: High
  • # of students: 2,117
  • # of teachers: 114
7
GreatSchools Rating
 

$270,000$330,000$300,000

PURCHASE PRICE

$1,440$1,760$1,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,600
EXPENSES Loan Payment -$1,042
Property Tax -$239
Property Insurance -$71
Property Management Fees -$119
CASH FLOW
$128

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.

$300,000

PROJECTED PRICE

$1,600

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 6.5%
Maintenance Year (1-5) 8.00%
Vacancy 7.49%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,042

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $75,000
Loan Amount $225,000
See What Happens When You Reinvest Cash Flow

7.67

YEARS SAVED

$30,163

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,600

    LIST RENT
  • $0.7

    LIST RENT PER SQFT
  • $1,772

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6503$1,6804$1,6955$1,800
$1,800
RENT COMPS ANALYSIS
  • 516 Nature Walk Road Fuquay Varina, NC 1
    • 3 beds 3 baths ∙ 2,272 Sqft ∙ Built 1996 3 beds 3 baths ∙ 2,272 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.70
    •  
  • 521 Timber Meadow Lake Fuquay Varina, NC 2
    • 3 beds 3 baths ∙ 2,300 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,300 Sqft ∙ Built 2006
    LEASED 06/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.72
    •  
  • 517 Stapleford Lane Fuquay Varina, NC 3
    • 3 beds 3 baths ∙ 2,328 Sqft ∙ Built 2015 3 beds 3 baths ∙ 2,328 Sqft ∙ Built 2015
    LEASED 11/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $0.72
    •  
  • 855 Bridlemine Drive Fuquay Varina, NC 4
    • 4 beds 3 baths ∙ 2,075 Sqft ∙ Built 2011 4 beds 3 baths ∙ 2,075 Sqft ∙ Built 2011
    LEASED 09/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.82
    •  
  • 625 Stapleford Lane Fuquay Varina, NC 5
    • 4 beds 3 baths ∙ 2,100 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,100 Sqft ∙ Built 2016
    LEASED 09/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.86
    •  
PROPERTY LISTING DETAILS
Wally Elhentaty
1.919.369.8686
Agent Group Realty
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2367835
Last Updated: 02/20/2021
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