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548 Thomas Edwards Lane Greer, SC 29651

3 Beds 2 Baths - sqft Built 2017

$215,000

List Price

$1,530

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $157.16
  • 3 Days on Market
  • MLS # : 1435774
  • Updated Date : 01/24/2021 at 01:04
CONSTRUCTION
  • Beds : 3
  • Floor Size : '-'
  • Baths : 2 full
Listing Agent

Carolina Moon Realty Llc

Listing Agent's Description

You’ll instantly fall in love with this adorable craftsman style ranch home situated in the beautiful Blue Ridge area of the Upstate. We welcome you to step inside to be greeted by high ceilings, a lovely archway, extensive molding/chair rails and a cozy stone gas fireplace. The bright eat-in kitchen is spacious and perfect for entertaining a crowd. The family chef will appreciate the abundance of cabinets and countertop prep space for those large holiday meals. The master suite will not disappoint either, featuring a lighted tray ceiling, walk-in closet and full private bath. This Woodwind floor plan is very sensible, maximizes the square footage and generous with storage options (closets, pantry, attic). Other interior features you will appreciate are the engineered hardwood floors, granite countertops, 2-inch blinds and tasteful neutral colors throughout the home. Don’t forget to take time to relax on either the rocking-chair front porch or back covered patio with a ceiling fan to keep you cool. Enjoy the perks of this corner lot within walking distance to the community pool and no neighbors behind you. If you’re looking for low maintenance, single-story living in a vibrant neighborhood… come visit soon before it’s too late!

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PRICE & RENT TRENDS

Zip Code: 29651

ZipNIR Market*CityMarket2010Year2000201980k90k100k110k120k130k140k150k160k170k180k190k200k210kPrice in $79k217k

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

Zip Code: 29651

ZipNIR Market*CityMarket2010Year20002019 Q2950100010501100115012001250130013501400145015001550Rent in $9171558

* 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
Skyland Elementary School Primary Regular 706 38 9
Blue Ridge Middle School Middle Regular 973 53 8
Blue Ridge High School High Regular 1,183 63 5

Skyland Elementary School

  • Education Level: Primary
  • # of students: 706
  • # of teachers: 38
9
GreatSchools Rating

Blue Ridge Middle School

  • Education Level: Middle
  • # of students: 973
  • # of teachers: 53
8
GreatSchools Rating

Blue Ridge High School

  • Education Level: High
  • # of students: 1,183
  • # of teachers: 63
5
GreatSchools Rating
 

$193,500$236,500$215,000

PURCHASE PRICE

$1,377$1,683$1,530

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,530
EXPENSES Loan Payment -$747
Property Tax -$334
Property Insurance -$52
Property Management Fees -$122
CASH FLOW
$275

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.

$215,000

PROJECTED PRICE

$1,530

PROJECTED RENT

0.71%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.16%
Appreciation Year (1-5) 4.1%
Maintenance Year (1-5) 8.00%
Vacancy 6.54%
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$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$62,725

INVESTMENT

$62,725

Down Payment
$53,750
Rehab Estimate
$5,750
Closing Costs
$3,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$747

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $53,750
Loan Amount $161,250
See What Happens When You Reinvest Cash Flow

10.33

YEARS SAVED

$33,017

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,530

    LIST RENT
  • $1.12

    LIST RENT PER SQFT
  • $1,546

    COMP ESTIMATED VALUE
  • $1.13

    COMP AVG. RENT PER SQFT
Comps Range
$1,530
1$1,5302$1,695
$1,695
RENT COMPS ANALYSIS
* Sqft is provided from public sources
  • 548 Thomas Edwards Lane Greer, SC 1
    • 3 beds 2 baths ∙ 1,368 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,368 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $1,530
    • $1.12
    •  
  • 808 John Thomas Way Greer, SC 2
    • 3 beds 2 baths ∙ 1,498 Sqft ∙ Built 3 beds 2 baths ∙ 1,498 Sqft ∙ Built
    LEASED 07/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.13
    •  
PROPERTY LISTING DETAILS
Mandy Chapman-crain
1.864.386.0377
Carolina Moon Realty Llc
Lauren Taylor
1.866.250.5610
Homeunion SC LLC
21064
( GGARMLS)
MLS #: 1435774
Last Updated: 01/24/2021
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