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52 Eclipse Court # 41 Willow Spring(s), NC 27529

4 Beds 3 Baths 2,098 sqft Built 2020

INVESTimate

$291,913

List Price

$1,700

$1,530 - $1,870

Rent Est.

$306,217  ( +4.90%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
August 23, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $139.14
  • 4 Days on Market
  • MLS # : 2338769
  • Updated Date : 08/23/2020 at 19:05
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,098 sqft
  • Baths : 2 full , 1 half
Listing Agent

Dan Ryan Builders Nc, Llc

Listing Agent's Description

This "Cameron" home plan is loaded with designer picked upgraded options. 4 Bed/2.5 Bath boasting almost 2100 sqft. Stunning Elevation, 1st floor has perfect study, vaulted foyer, over sized family room just of the beautiful kitchen/island w/included Lv.2 granite and Lv1 white cabinets throughout, first floor is Luxury Planking, upgraded carpet and Owners shower tiled. So many more upgrades that finish off this perfect home. Back has screen porch to enjoy. *NOT BUILT YET* photos are of a model home!!

SEE MORE

MARKET HIGHLIGHTS

  • 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
  • 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)

PRICE & RENT TRENDS

Zip Code: 27529

ZipNIR Market*Market2010Year20002019140k150k160k170k180k190k200k210k220k230k240k250k260kPrice in $132k265k

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

Zip Code: 27529

ZipNIR Market*Market2010Year2000 Q22019 Q2950100010501100115012001250130013501400145015001550Rent in $9461595

* 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
Dixon Road Elementary School Primary Regular 551 34 7
Mcgee's Crossroads Middle School Middle Regular 895 49 4
West Johnston High School High Regular 1,359 83 5

Dixon Road Elementary School

  • Education Level: Primary
  • # of students: 551
  • # of teachers: 34
7
GreatSchools Rating

Mcgee's Crossroads Middle School

  • Education Level: Middle
  • # of students: 895
  • # of teachers: 49
4
GreatSchools Rating

West Johnston High School

  • Education Level: High
  • # of students: 1,359
  • # of teachers: 83
5
GreatSchools Rating
 

$262,722$321,104$291,913

PURCHASE PRICE

$1,530$1,870$1,700

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$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$1,077
Property Tax -$188
Property Insurance -$68
HOA -$60
Property Management Fees -$153
CASH FLOW
$154

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$291,913

PROJECTED PRICE

$1,700

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 4.90%
Maintenance Year (1-5) 3.00%
Vacancy 7.49%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,357

INVESTMENT

$79,357

Down Payment
$72,978
Rehab Estimate
$2,000
Closing Costs
$4,379

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,077

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $72,978
Loan Amount $218,935
See What Happens When You Reinvest Cash Flow

7.58

YEARS SAVED

$34,909

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,700

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $1,636

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,375
1$1,3752$1,700
$1,700
RENT COMPS ANALYSIS
  • 52 Eclipse Court Willow Spring(s), 2
    • 4 beds 3 baths ∙ 2,098 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,098 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.81
    •  
  • 7304 Chimara Court Willow Spring(s), 1
    • 3 beds 3 baths ∙ 1,761 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,761 Sqft ∙ Built 2006
    LEASED 12/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.78
    •  
PROPERTY LISTING DETAILS
Lisa Kiss
1.954.600.7047
Dan Ryan Builders Nc, Llc
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2338769
Last Updated: 08/23/2020
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