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5305 Scott Road Fuquay Varina, NC 27526

3 Beds 2 Baths 1,236 sqft Built 1965

$200,000

List Price

$1,400

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

December 03, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1965
  • Price/Sqft : $161.81
  • 4 Days on Market
  • MLS # : 2356043
  • Updated Date : 12/05/2020 at 22:23
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,236 sqft
  • Baths : 2 full
Listing Agent

Triangle Premier Properties In

Listing Agent's Description

Beautiful recently remodeled 3 bedroom RANCH home in great Fuquay location on a large lot close to Wake Tech! Renovated kitchen with barstool area, tile backsplash and shaker cabinets! Cozy family room! New roof! Large, private backyard with mature trees and shed! Taxes only $805 annually on this beauty! HURRY!

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
  • 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)

PRICE & RENT TRENDS

Zip Code: 27526

ZipNIR Market*CityMarket2010Year20002019140k150k160k170k180k190k200k210k220k230k240k250k260kPrice in $132k265k

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

Zip Code: 27526

ZipNIR Market*CityMarket2010Year2000 Q22019 Q29501000105011001150120012501300135014001450150015501600Rent in $9461610

* 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
Banks Road Elementary School Primary Regular 699 48 6
Holly Grove Middle School Middle Regular 1,439 81 8
Fuquay-varina High School High Regular 2,117 114 7

Banks Road Elementary School

  • Education Level: Primary
  • # of students: 699
  • # of teachers: 48
6
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
 

$180,000$220,000$200,000

PURCHASE PRICE

$1,260$1,540$1,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,400
EXPENSES Loan Payment -$738
Property Tax -$200
Property Insurance -$51
Property Management Fees -$119
CASH FLOW
$292

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.

$200,000

PROJECTED PRICE

$1,400

PROJECTED RENT

0.70%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 5.1%
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$100k$200k$300k$400k$500k$600k$700k$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$58,750

INVESTMENT

$58,750

Down Payment
$50,000
Rehab Estimate
$5,750
Closing Costs
$3,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 25% down payment or higher enables the proceeds from the asset to cover all costs.

$738

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $50,000
Loan Amount $150,000
See What Happens When You Reinvest Cash Flow

12.58

YEARS SAVED

$46,346

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,400

    LIST RENT
  • $1.13

    LIST RENT PER SQFT
  • $1,403

    COMP ESTIMATED VALUE
  • $1.14

    COMP AVG. RENT PER SQFT
Comps Range
$1,200
1$1,2002$1,3253$1,400
$1,400
RENT COMPS ANALYSIS
  • 5305 Scott Road Fuquay Varina, NC 3
    • 3 beds 2 baths ∙ 1,236 Sqft ∙ Built 1965 3 beds 2 baths ∙ 1,236 Sqft ∙ Built 1965
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.13
    •  
  • 5316 Scott Fuquay Varina, NC 1
    • 3 beds 1 baths ∙ 1,026 Sqft ∙ Built 1960 3 beds 1 baths ∙ 1,026 Sqft ∙ Built 1960
    LEASED 12/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $1.17
    •  
  • 3420 Banks Road Raleigh, NC 2
    • 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1984
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,325
    • $1.10
    •  
PROPERTY LISTING DETAILS
Margie Ax Nartowicz
1.919.427.3875
Triangle Premier Properties In
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2356043
Last Updated: 12/05/2020
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