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542 Misty Willow Way Rolesville, NC 27571

4 Beds 3 Baths 2,281 sqft Built 2007

$290,000

List Price

$1,710

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

January 10, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $127.14
  • 7 Days on Market
  • MLS # : 2359997
  • Updated Date : 01/10/2021 at 00:20
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,281 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Preferred Realty

Listing Agent's Description

Welcome to a community that includes 2 ponds, nature trails, and membership to Granite Falls Swim & Athletic Club. This home has NEW carpet, new LVP and updates in the bathrooms and laundry, and fresh paint throughout. Large bedrooms upstairs and private office downstairs. Beautiful hardwoods throughout downstairs. NEW SS appliances in kitchen. Tile backsplash and solid countertops in kitchen. Lots of natural light. Workbench and shelving in garage. Walk to local schools, shopping, and dining.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • #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

PRICE & RENT TRENDS

Neighborhood: Willow Crest

NeighborhoodNIR Market*CityMarket2010Year20002019160k180k200k220k240k260k280k300k320k340kPrice in $153k359k

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

Neighborhood: Willow Crest

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q211001200130014001500160017001800Rent in $10271881

* 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
Sanford Creek Elementary School Primary Regular 697 45 4
Rolesville Middle School Middle Unknown 1,263 75 NA
Rolesville High School High Regular 1,200 69 NA

Sanford Creek Elementary School

  • Education Level: Primary
  • # of students: 697
  • # of teachers: 45
4
GreatSchools Rating

Rolesville Middle School

  • Education Level: Middle
  • # of students: 1,263
  • # of teachers: 75
NA
GreatSchools Rating

Rolesville High School

  • Education Level: High
  • # of students: 1,200
  • # of teachers: 69
NA
GreatSchools Rating
 

$261,000$319,000$290,000

PURCHASE PRICE

$1,539$1,881$1,710

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,710
EXPENSES Loan Payment -$1,007
Property Tax -$255
Property Insurance -$72
HOA -$108
Property Management Fees -$119
CASH FLOW
$150

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 16% of earned rent to cover both maintenance and periods of vacancy.

$290,000

PROJECTED PRICE

$1,710

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.33%
Appreciation Year (1-5) 4.8%
Maintenance Year (1-5) 8.00%
Vacancy 7.51%
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$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,600

INVESTMENT

$82,600

Down Payment
$72,500
Rehab Estimate
$5,750
Closing Costs
$4,350

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,007

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $72,500
Loan Amount $217,500
See What Happens When You Reinvest Cash Flow

8.58

YEARS SAVED

$33,307

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,710

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $1,739

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6503$1,6754$1,7105$1,850
$1,850
RENT COMPS ANALYSIS
  • 542 Misty Willow Way Rolesville, NC 4
    • 4 beds 3 baths ∙ 2,281 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,281 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $1,710
    • $0.75
    •  
  • 505 Littleport Drive Rolesville, NC 1
    • 4 beds 3 baths ∙ 2,300 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,300 Sqft ∙ Built 2004
    LEASED 07/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.70
    •  
  • 418 Shady Willow Lane Rolesville, NC 2
    • 4 beds 3 baths ∙ 2,141 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,141 Sqft ∙ Built 2006
    LEASED 07/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.77
    •  
  • 652 Ashbrittle Drive Rolesville, NC 3
    • 4 beds 3 baths ∙ 2,120 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,120 Sqft ∙ Built 2005
    LEASED 07/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.79
    •  
  • 1308 Old Pond Court Wake Forest, NC 5
    • 5 beds 3 baths ∙ 2,356 Sqft ∙ Built 1997 5 beds 3 baths ∙ 2,356 Sqft ∙ Built 1997
    LEASED 10/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.79
    •  
PROPERTY LISTING DETAILS
Jerry Dickerson
1.919.291.0446
Keller Williams Preferred Realty
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2359997
Last Updated: 01/10/2021
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