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54 Shady Creek Trail #38 Garner, NC 27529

3 Beds 2 Baths 1,548 sqft Built 2020

$266,319

List Price

$1,400

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
December 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $172.04
  • 3 Days on Market
  • MLS # : 2358507
  • Updated Date : 12/18/2020 at 20:09
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,548 sqft
  • Baths : 2 full
Listing Agent

Mungo Homes Of North Carolina

Listing Agent's Description

Brunswick floor plan. Ranch! 3 bedroom, 2 bath, flex space, large kitchen island. Primary suite with dual sinks, 5' walk in shower, and large primary closet. $3,500 in closing costs with lender (Silverton Mortgage) and closing attorney (Moore & Alphin). By appointment only!

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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 27529

ZipNIR Market*CityMarket2010Year20002019140k150k160k170k180k190k200k210k220k230k240k250k260kPrice in $132k265k

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

Zip Code: 27529

ZipNIR Market*CityMarket2010Year2000 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
West View Elementary School Primary Regular 943 57 4
Cleveland Middle School Middle Regular 1,163 64 7
West Johnston High School High Regular 1,359 83 5

West View Elementary School

  • Education Level: Primary
  • # of students: 943
  • # of teachers: 57
4
GreatSchools Rating

Cleveland Middle School

  • Education Level: Middle
  • # of students: 1,163
  • # of teachers: 64
7
GreatSchools Rating

West Johnston High School

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

$239,687$292,951$266,319

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 -$983
Property Tax -$171
Property Insurance -$57
HOA -$65
Property Management Fees -$119
CASH FLOW
$5

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.

$266,319

PROJECTED PRICE

$1,400

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 4.9%
Maintenance Year (1-5) 3.00%
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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$72,575

INVESTMENT

$72,575

Down Payment
$66,580
Rehab Estimate
$2,000
Closing Costs
$3,995

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$983

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $66,580
Loan Amount $199,739
See What Happens When You Reinvest Cash Flow

5.75

YEARS SAVED

$20,325

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
  • $0.9

    LIST RENT PER SQFT
  • $1,440

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,5953$1,5954$1,694
$1,694
RENT COMPS ANALYSIS
  • 54 Shady Creek Trail Garner, NC 1
    • 3 beds 2 baths ∙ 1,548 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,548 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.90
    •  
  • 414 Outwater Ridge Drive Garner, NC 2
    • 4 beds 3 baths ∙ 1,676 Sqft ∙ Built 2019 4 beds 3 baths ∙ 1,676 Sqft ∙ Built 2019
    property image
    LEASED 07/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.95
    •  
  • 47 Mariners Point Way Garner, NC 3
    • 3 beds 3 baths ∙ 1,730 Sqft ∙ Built 2017 3 beds 3 baths ∙ 1,730 Sqft ∙ Built 2017
    property image
    LEASED 03/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.92
    •  
  • 205 Outwater Ridge Drive Garner, NC 4
    • 4 beds 3 baths ∙ 1,850 Sqft ∙ Built 2016 4 beds 3 baths ∙ 1,850 Sqft ∙ Built 2016
    property image
    LEASED 11/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,694
    • $0.92
    •  
PROPERTY LISTING DETAILS
Shauna Sallinger
1.919.610.5956
Mungo Homes Of North Carolina
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2358507
Last Updated: 12/18/2020
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