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609 Cherokee Drive Greenville, SC 29615

5 Beds 3 Baths - sqft Built 1972

$199,000

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 1972
  • Price/Sqft : $78.81
  • 4 Days on Market
  • MLS # : 1431161
  • Updated Date : 11/06/2020 at 17:36
CONSTRUCTION
  • Beds : 5
  • Floor Size : '-'
  • Baths : 3 full
Listing Agent

Keller Williams Grv Upst

Listing Agent's Description

Wholesale investor priced excellent for fix and flip or move in and update for immediate equity. This 5 bed (yes, 5 bedrooms!)/ 3 full bath brick ranch sits on almost a half acre lot with a fully fenced backyard. Open floor plan between the kitchen and the den with access to the garage and backyard. Big dining room and living room with original hardwoods. Large master toward the back of the home with two closets with en suite bath. Bathroom features dual vanities and plenty of space. 4 additional spacious bedrooms sharing two full baths. Tons of storage space inside the home with closets and built in bookcases. Great location close to downtown Greenville, shopping and dining and the interstate! Agent owned, sold as is. Check the comps, this is a deal and will go fast!

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
 

$179,100$218,900$199,000

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$734
Property Tax -$315
Property Insurance -$73
Property Management Fees -$132
CASH FLOW
$396

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.

$199,000

PROJECTED PRICE

$1,650

PROJECTED RENT

0.83%

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$14k$16k

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$58,485

INVESTMENT

$58,485

Down Payment
$49,750
Rehab Estimate
$5,750
Closing Costs
$2,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$734

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $49,750
Loan Amount $149,250
See What Happens When You Reinvest Cash Flow

13.58

YEARS SAVED

$51,006

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,650

    LIST RENT
  • $0.65

    LIST RENT PER SQFT
  • $1,683

    COMP ESTIMATED VALUE
  • $0.67

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6503$1,6954$1,895
$1,895
RENT COMPS ANALYSIS
* Sqft is provided from public sources
  • 609 Cherokee Drive Greenville, SC 2
    • 5 beds 3 baths ∙ 2,525 Sqft ∙ Built 1972 5 beds 3 baths ∙ 2,525 Sqft ∙ Built 1972
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.65
    •  
  • 205 Bendingwood Circle Taylors, SC 1
    • 4 beds 3 baths ∙ 2,358 Sqft ∙ Built 4 beds 3 baths ∙ 2,358 Sqft ∙ Built
    property image
    LEASED 07/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.70
    •  
  • 14 Dickens Lane Taylors, SC 3
    • 4 beds 3 baths ∙ 2,710 Sqft ∙ Built 4 beds 3 baths ∙ 2,710 Sqft ∙ Built
    property image
    LEASED 10/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.63
    •  
  • 108 Planterswood Court Greenville, SC 4
    • 4 beds 2 baths ∙ 2,839 Sqft ∙ Built 4 beds 2 baths ∙ 2,839 Sqft ∙ Built
    property image
    LEASED 08/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.67
    •  
PROPERTY LISTING DETAILS
Dan Hamilton
1.864.527.7685
Keller Williams Grv Upst
Lauren Taylor
1.866.250.5610
Homeunion SC LLC
21064
( GGARMLS)
MLS #: 1431161
Last Updated: 11/06/2020
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