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613 Birchhead Drive # LOT 32 Zebulon, NC 27597

3 Beds 3 Baths 2,231 sqft Built 2020

INVESTimate

$265,990

List Price

$1,630

$1,467 - $1,793

Rent Est.

$278,199  ( +4.59%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $119.22
  • 6 Days on Market
  • MLS # : 2338549
  • Updated Date : 08/21/2020 at 20:12
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,231 sqft
  • Baths : 2 full , 1 half
Listing Agent

D.r. Horton, Inc.

Listing Agent's Description

This popular Pinehurst plan sits on a cul-de-sac homesite with only a minute walk to the pool! With all 3 bedrooms and a loft up, the main floor of the home is ideal for entertaining! When you walk through the front door and step into the dining room, the natural flow of the plan guides you into the open kitchen and family room. Cane Shadow (gray) cabinets, granite countertops, subway tile backsplash and REVWOOD floors are the perfect color combination for any interior decorating design scheme.

SEE MORE

MARKET HIGHLIGHTS

  • 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
  • #7 Best Big City for Jobs 2018 (Forbes, 2018)
  • 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)

PRICE & RENT TRENDS

Zip Code: 27597

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $106k265k

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

Zip Code: 27597

ZipNIR Market*CityMarket2010Year2000 Q22019 Q2800900100011001200130014001500Rent in $7591595

* 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
Zebulon Elementary School Primary Magnet 539 42 3
Zebulon Middle School Middle Magnet 556 42 3
East Wake High School High Regular NA

Zebulon Elementary School

  • Education Level: Primary
  • # of students: 539
  • # of teachers: 42
3
GreatSchools Rating

Zebulon Middle School

  • Education Level: Middle
  • # of students: 556
  • # of teachers: 42
3
GreatSchools Rating

East Wake High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$239,391$292,589$265,990

PURCHASE PRICE

$1,467$1,793$1,630

RENT

DOWN PAYMENT
FINANCING

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$700k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,630
EXPENSES Loan Payment -$981
Property Tax -$222
Property Insurance -$71
HOA -$57
Property Management Fees -$147
CASH FLOW
$153

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$265,990

PROJECTED PRICE

$1,630

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 4.59%
Maintenance Year (1-5) 3.00%
Vacancy 7.47%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$72,487

INVESTMENT

$72,487

Down Payment
$66,498
Rehab Estimate
$2,000
Closing Costs
$3,990

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$981

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $66,498
Loan Amount $199,493
See What Happens When You Reinvest Cash Flow

7.58

YEARS SAVED

$31,942

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,630

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $1,666

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,5453$1,6304$1,645
$1,645
RENT COMPS ANALYSIS
  • 613 Birchhead Drive Zebulon, 3
    • 3 beds 3 baths ∙ 2,231 Sqft ∙ Built 2020 3 beds 3 baths ∙ 2,231 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,630
    • $0.73
    •  
  • 1236 Braemar Highland Drive Zebulon, 1
    • 4 beds 3 baths ∙ 2,000 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,000 Sqft ∙ Built 2000
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.75
    •  
  • 1302 Pearces Road Zebulon, 2
    • 4 beds 3 baths ∙ 2,050 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,050 Sqft ∙ Built 2005
    LEASED 10/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,545
    • $0.75
    •  
  • 6112 Watsonia Drive Zebulon, 4
    • 3 beds 3 baths ∙ 2,231 Sqft ∙ Built 2019 3 beds 3 baths ∙ 2,231 Sqft ∙ Built 2019
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,645
    • $0.74
    •  
PROPERTY LISTING DETAILS
Amber Joy
1.704.604.8118
D.r. Horton, Inc.
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2338549
Last Updated: 08/21/2020
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