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520 E Hinton Street Clayton, NC 27520

3 Beds 2 Baths 1,257 sqft Built 2018

$199,900

List Price

$1,160

$1K - $1.3K

Rent Est.

PROPERTY INFO

January 24, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $159.03
  • 2 Days on Market
  • MLS # : 2363151
  • Updated Date : 01/24/2021 at 05:08
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,257 sqft
  • Baths : 2 full
Listing Agent

Hometowne Realty Garner

Listing Agent's Description

HURRY, it won't last long! This gorgeous, ranch home features an open floor, vaulted ceilings and a cozy gas fireplace with a modern touch. It has spacious bedrooms and a separate laundry room. It is on a corner lot that is conveniently located close to all your shopping and dining needs in Downtown Clayton. They are including the refrigerator with the home so do not worry about the appliance shortage!!!

SEE MORE

MARKET HIGHLIGHTS

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

PRICE & RENT TRENDS

Neighborhood: Neuse

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $107k265k

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

Neighborhood: Neuse

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2800900100011001200130014001500Rent in $7651595

* 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
Cooper Academy Primary Regular 593 45 2
Riverwood Middle School Middle Regular 1,149 64 7
Clayton High School High Regular 1,512 85 5

Cooper Academy

  • Education Level: Primary
  • # of students: 593
  • # of teachers: 45
2
GreatSchools Rating

Riverwood Middle School

  • Education Level: Middle
  • # of students: 1,149
  • # of teachers: 64
7
GreatSchools Rating

Clayton High School

  • Education Level: High
  • # of students: 1,512
  • # of teachers: 85
5
GreatSchools Rating
 

$179,910$219,890$199,900

PURCHASE PRICE

$1,044$1,276$1,160

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,160
EXPENSES Loan Payment -$694
Property Tax -$205
Property Insurance -$52
Property Management Fees -$119
CASH FLOW
$90

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.

$199,900

PROJECTED PRICE

$1,160

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 5.4%
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$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$58,724

INVESTMENT

$58,724

Down Payment
$49,975
Rehab Estimate
$5,750
Closing Costs
$2,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$694

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $49,975
Loan Amount $149,925
See What Happens When You Reinvest Cash Flow

7.67

YEARS SAVED

$19,874

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,160

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,169

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,160
1$1,1602$1,1953$1,3954$1,3955$1,450
$1,450
RENT COMPS ANALYSIS
  • 520 E Hinton Street Clayton, NC 1
    • 3 beds 2 baths ∙ 1,257 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,257 Sqft ∙ Built 2018
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,160
    • $0.92
    •  
  • 536 N Cooper Street Clayton, NC 2
    • 3 beds 2 baths ∙ 1,257 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,257 Sqft ∙ Built 2017
    property image
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $0.95
    •  
  • 28 Manito Place Clayton, NC 3
    • 3 beds 3 baths ∙ 1,510 Sqft ∙ Built 2017 3 beds 3 baths ∙ 1,510 Sqft ∙ Built 2017
    property image
    LEASED 07/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.92
    •  
  • 16 Manito Place Clayton, NC 4
    • 3 beds 3 baths ∙ 1,510 Sqft ∙ Built 2017 3 beds 3 baths ∙ 1,510 Sqft ∙ Built 2017
    property image
    LEASED 03/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.92
    •  
  • 43 W Falcon Court Clayton, NC 5
    • 4 beds 3 baths ∙ 1,556 Sqft ∙ Built 2019 4 beds 3 baths ∙ 1,556 Sqft ∙ Built 2019
    property image
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.93
    •  
PROPERTY LISTING DETAILS
Nichole Hopper
1.919.662.4871
Hometowne Realty Garner
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2363151
Last Updated: 01/24/2021
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