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605 Butler Springs Road Greenville, SC 29615

3 Beds 2 Baths - sqft Built 1967

$224,900

List Price

$1,560

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 10, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1967
  • Price/Sqft : $127.13
  • 4 Days on Market
  • MLS # : 1433347
  • Updated Date : 12/11/2020 at 20:49
CONSTRUCTION
  • Beds : 3
  • Floor Size : '-'
  • Baths : 2 full
Listing Agent

Wilson Associates

Listing Agent's Description

This blank canvas in HERITAGE HILLS is waiting for you to make it your own. Just minutes from downtown you will fall in love with this stately traditional brick home with large private yard. It was once the builder's own personal home. As you enter the foyer you'll be greeted by a large living and dining room area. The kitchen is open to the den so both rooms can enjoy the warmth from the gas log fireplace. Off the den is a screened porch overlooking the gorgeous backyard. Down the hall are three bedrooms with a hall bath. The master has a walk-in closet and a second smaller closet and it's own ensuite bath. The laundry, located in the garage, also has a workshop space. This room is both heated and cooled. The seller has taken meticulous care. The HVAC includes a Hepa filter and the house has been covered by a Corley warranty for the past 16 years which includes electrical, plumbing, heating and air. Both toilets are new and the outside trim was repainted Spring of 2020. It's ready for a new family. Schedule your showing today.

SEE MORE

PRICE & RENT TRENDS

Zip Code: 29615

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $85k262k

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

Zip Code: 29615

ZipNIR Market*CityMarket2010Year20002019 Q280090010001100120013001400150016001700Rent in $7911778

* 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
Lake Forest Elementary School Primary Regular 828 47 5
League Academy Middle Magnet 766 48 9
Wade Hampton High School High Regular 1,656 84 7

Lake Forest Elementary School

  • Education Level: Primary
  • # of students: 828
  • # of teachers: 47
5
GreatSchools Rating

League Academy

  • Education Level: Middle
  • # of students: 766
  • # of teachers: 48
9
GreatSchools Rating

Wade Hampton High School

  • Education Level: High
  • # of students: 1,656
  • # of teachers: 84
7
GreatSchools Rating
 

$202,410$247,390$224,900

PURCHASE PRICE

$1,404$1,716$1,560

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,560
EXPENSES Loan Payment -$830
Property Tax -$328
Property Insurance -$60
Property Management Fees -$125
CASH FLOW
$218

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$224,900

PROJECTED PRICE

$1,560

PROJECTED RENT

0.69%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.42%
Appreciation Year (1-5) 6.0%
Maintenance Year (1-5) 8.00%
Vacancy 6.12%
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

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$65,349

INVESTMENT

$65,349

Down Payment
$56,225
Rehab Estimate
$5,750
Closing Costs
$3,374

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$830

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $56,225
Loan Amount $168,675
See What Happens When You Reinvest Cash Flow

9.33

YEARS SAVED

$34,354

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,560

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,557

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,5003$1,5604$1,595
$1,595
RENT COMPS ANALYSIS
* Sqft is provided from public sources
  • 605 Butler Springs Road Greenville, SC 3
    • 3 beds 2 baths ∙ 1,769 Sqft ∙ Built 1967 3 beds 2 baths ∙ 1,769 Sqft ∙ Built 1967
    • Rent
    • Rent Per SQFT
    •  
    • $1,560
    • $0.88
    •  
  • 123 Princeton Avenue Greenville, SC 1
    • 3 beds 2 baths ∙ 1,440 Sqft ∙ Built 3 beds 2 baths ∙ 1,440 Sqft ∙ Built
    LEASED 07/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.87
    •  
  • 802 Richbourg Road Greenville, SC 2
    • 3 beds 2 baths ∙ 1,816 Sqft ∙ Built 3 beds 2 baths ∙ 1,816 Sqft ∙ Built
    LEASED 02/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.83
    •  
  • 327 Mimosa Drive Greenville, SC 4
    • 3 beds 2 baths ∙ 1,703 Sqft ∙ Built 3 beds 2 baths ∙ 1,703 Sqft ∙ Built
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.94
    •  
PROPERTY LISTING DETAILS
Kathryn Curtis
1.864.238.3879
Wilson Associates
Lauren Taylor
1.866.250.5610
Homeunion SC LLC
21064
( GGARMLS)
MLS #: 1433347
Last Updated: 12/11/2020
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