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605 Kimberwood Court Garner, NC 27529

3 Beds 2 Baths 1,478 sqft Built 1992

$230,000

List Price

$1,350

$1.2K - $1.5K

Rent Est.

$66,700

Investment Est.

AVAILABLE

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AVAILABLE

1 Year
(+4.9%)
1 YR. PROJ. APPRECIATION


Cap Rate	4.2%
Cash Flow	$2,268
Value Increase	$11,552

10 YEAR

Cash On Cash	1.9%
Total Return	12.1%

PROPERTY INFO

January 09, 2021 RECENTLY ADDED

FACTS

Single Family
Built In 1992
Price/Sqft : $155.62
2 Days on Market
MLS # : 2360868
Updated Date : 01/09/2021 at 23:57

CONSTRUCTION

Beds : 3
Floor Size : 1,478 sqft
Baths : 2 full

Listing Agent

Fonville Morisey/lochmere Sales Office

Listing Agent's Description

Rocking Chair Porch welcomes you to this Ranch Style 3 BR home located in a Cul-de-sac. Vaulted Ceiling in Family Room has a Stone fireplace w/gas logs. A Bright Kitchen w/Open Shelving. Large Owner's Suite w/extra touches that include Built-ins, a Window Seat & a Barn Door. Both Baths updated w/new Tile,Vanities,Flooring & Fixtures. Decking above & below in a fenced Yard. Storage includes 12x8 Shed w/power & Walk in Crawl Space. This home has all the Charm! Easy access to Raleigh, I-40 & Shopping.NO HOA

605 Kimberwood Ct

Garner, North Carolina

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MARKET HIGHLIGHTS

Raleigh Market Report

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

Neighborhood: Kimber Woods

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

Neighborhood: Kimber Woods

* 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
East Garner Middle School	Middle	Magnet	1,361	83	4
Garner High School	High	Magnet	2,650	145	3

East Garner Middle School

Education Level: Middle
# of students: 1,361
# of teachers: 83

GreatSchools Rating

Garner High School

Education Level: High
# of students: 2,650
# of teachers: 145

GreatSchools Rating

FINANCIALS

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$207,000$253,00000$230,000

PURCHASE PRICE

$1,215$1,48500$1,350

RENT

DOWN PAYMENT

FINANCING

OFF ON

Acquisition Concierge

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PROPERTY

Expense Inflation	%
Vacancy	%
Length of Stay
Expense Inflation	%
Vacancy	%
Length of Stay

YEAR (1-5)

Appreciation	%
Rental Growth	%
Maintenance	%

YEAR (1-5)

Appreciation	%
Rental Growth	%
Maintenance	%

YEAR (6+)

Appreciation	%
Rental Growth	%
Maintenance	%

INVESTMENT

Rehab Costs
Reinvest Cash Flow	Yes No
Interest Rate	%

INVESTMENT

Rehab Costs
Reinvest Cash Flow	Yes No
Interest Rate	%

Learn how to read this

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME	Rent	$1,350
EXPENSES	Loan Payment	-$799
	Property Tax	-$187
	Property Insurance	-$56
	Property Management Fees	-$119




CASH FLOW $189

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.

$230,000

PROJECTED PRICE

$1,350

PROJECTED RENT

0.59%

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)	8.00%
Vacancy	7.49%
Length of Stay Years	2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

Cash Flow
Appreciation
Principal

PROJECTED ANNUAL CASH FLOW

Tenant Turnover

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

Appreciation
Principal
Loan Balance

TOTAL CASH OUT OF POCKET

INVESTMENT

$66,700

Down Payment	$57,500
Rehab Estimate	$5,750
Closing Costs	$3,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$799

MONTHLY LOAN PAYMENT

30 yr

3.75%

25.00%

Down Payment

Term	30 Years
Interest	3.75%
Down Payment	$57,500
Loan Amount	$172,500

See What Happens When You Reinvest Cash Flow

9.67

YEARS SAVED

$32,114

INTEREST SAVED

CASH FLOW REINVESTMENT

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

$1,350
LIST RENT
$0.91
LIST RENT PER SQFT

$1,345
COMP ESTIMATED VALUE
$0.91
COMP AVG. RENT PER SQFT

Comps Range

$1,050

1$1,0502$1,3253$1,3504$1,4255$1,450

$1,450

RENT COMPS ANALYSIS

1,478
PROPERTY SQFT
$0.91
AVG RENT PER SQFT
$1,345
ESTIMATED VALUE
$1,350
LIST RENT

605 Kimberwood Court Garner, NC 4

3 beds 2 baths ∙ 1,478 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,478 Sqft ∙ Built 1992
Price

Price Per SQFT

$230,000

$155.62
311 Whithorne Drive Garner, NC 1

3 beds 3 baths ∙ 1,259 Sqft ∙ Built 1983 3 beds 3 baths ∙ 1,259 Sqft ∙ Built 1983
SOLD 09/23/20
Price

Price Per SQFT

$183,000

$145.35
109 Coachman Drive Garner, NC 2

3 beds 2 baths ∙ 1,479 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,479 Sqft ∙ Built 1978
SOLD 09/11/20
Price

Price Per SQFT

$207,000

$139.96
209 Shoals Lane Garner, NC 3

4 beds 3 baths ∙ 1,742 Sqft ∙ Built 1979 4 beds 3 baths ∙ 1,742 Sqft ∙ Built 1979
SOLD 08/21/20
Price

Price Per SQFT

$220,000

$126.29
1517 Wiljohn Road Garner, NC 5

3 beds 3 baths ∙ 1,688 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,688 Sqft ∙ Built 1990
SOLD 09/02/20
Price

Price Per SQFT

$240,000

$142.18

605 Kimberwood Court Garner, NC 3

3 beds 2 baths ∙ 1,478 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,478 Sqft ∙ Built 1992
Rent

Rent Per SQFT

$1,350

$0.91
102 Madrid Court Garner, NC 1

3 beds 2 baths ∙ 1,190 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,190 Sqft ∙ Built 1981
LEASED 11/14/20
Rent

Rent Per SQFT

$1,050

$0.88
104 Stefi Court Garner, NC 2

3 beds 2 baths ∙ 1,435 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,435 Sqft ∙ Built 1989
LEASED 10/26/20
Rent

Rent Per SQFT

$1,325

$0.92
1306 Timber Drive Garner, NC 4

3 beds 2 baths ∙ 1,550 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,550 Sqft ∙ Built 1977
LEASED 02/01/20
Rent

Rent Per SQFT

$1,425

$0.92
1303 Timber Drive Garner, NC 5

3 beds 2 baths ∙ 1,580 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,580 Sqft ∙ Built 1975
LEASED 09/09/20
Rent

Rent Per SQFT

$1,450

$0.92

PROPERTY LISTING DETAILS

Liz Radman
1.919.801.3908
Fonville Morisey/lochmere Sales Office

Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317

Triangle Multiple Listing Service ( TMLS)
MLS #: 2360868
Last Updated: 01/09/2021

605 Kimberwood Court Garner, NC 27529

$230,000

$1,350

$66,700

REQUEST INFO

PROPERTY INFO

FACTS

CONSTRUCTION

Listing Agent

Listing Agent's Description

MARKET HIGHLIGHTS

PRICE & RENT TRENDS

SCHOOLS

East Garner Middle School

Garner High School

FINANCIALS

$207,000$253,00000$230,000

$1,215$1,48500$1,350

Acquisition Concierge

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

$230,000

$1,350

0.59%

PROJECTED ACCUMULATED WEALTH

PROJECTED ANNUAL CASH FLOW

PROJECTED PROPERTY VALUE

TOTAL CASH OUT OF POCKET

INVESTMENT

LOAN DETAILS

25%

$799

9.67

$32,114

$230,000

$155.62

$204,622

$138.45

COMPS RANGE

PRICE COMPS ANALYSIS

$1,350

$0.91

$1,345

$0.91

Comps Range

RENT COMPS ANALYSIS

PROPERTY LISTING DETAILS