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619 S Barbour Street Clayton, NC 27520

3 Beds 2 Baths 1,421 sqft Built 2019

$237,000

List Price

$1,330

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

January 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2019
  • Price/Sqft : $166.78
  • 3 Days on Market
  • MLS # : 2360736
  • Updated Date : 01/08/2021 at 20:25
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,421 sqft
  • Baths : 2 full
Listing Agent

Carolina's Choice Real Estate

Listing Agent's Description

Immaculate & lightly lived in 1 year old split bedroom ranch in fantastic Clayton location. Open floor plan. Hardwood style floors throughout most of home. Spacious family room features vaulted ceiling. Separate dining area. Kitchen offers granite tops & s/s appliances (including fridge). Owner's suite has dual vanities & walk in closet. Large laundry room. Huge covered front porch. Great backyard w/ storage shed & wood views. Walk downtown to great shopping & dining!

SEE MORE

MARKET HIGHLIGHTS

  • 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

PRICE & RENT TRENDS

Neighborhood: Downtown Clayton

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $86k265k

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

Neighborhood: Downtown Clayton

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2800900100011001200130014001500Rent in $7171595

* 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
Cooper Academy Primary Regular 593 45 2
Riverwood Middle School Middle Regular 1,149 64 7
Clayton High School High Regular 1,512 85 5

Cooper Academy

  • Education Level: Primary
  • # of students: 593
  • # of teachers: 45
2
GreatSchools Rating

Riverwood Middle School

  • Education Level: Middle
  • # of students: 1,149
  • # of teachers: 64
7
GreatSchools Rating

Clayton High School

  • Education Level: High
  • # of students: 1,512
  • # of teachers: 85
5
GreatSchools Rating
 

$213,300$260,700$237,000

PURCHASE PRICE

$1,197$1,463$1,330

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,330
EXPENSES Loan Payment -$823
Property Tax -$243
Property Insurance -$55
Property Management Fees -$119
CASH FLOW
$90

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.

$237,000

PROJECTED PRICE

$1,330

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 7.3%
Maintenance Year (1-5) 8.00%
Vacancy 7.47%
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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$68,555

INVESTMENT

$68,555

Down Payment
$59,250
Rehab Estimate
$5,750
Closing Costs
$3,555

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$823

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $59,250
Loan Amount $177,750
See What Happens When You Reinvest Cash Flow

7.5

YEARS SAVED

$22,035

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,330

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,339

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,150
1$1,1502$1,1953$1,3304$1,4505$1,450
$1,450
RENT COMPS ANALYSIS
  • 619 S Barbour Street Clayton, NC 3
    • 3 beds 2 baths ∙ 1,421 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,421 Sqft ∙ Built 2019
    • Rent
    • Rent Per SQFT
    •  
    • $1,330
    • $0.94
    •  
  • 1032 Cove Circle Clayton, NC 1
    • 3 beds 2 baths ∙ 1,228 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,228 Sqft ∙ Built 2001
    LEASED 11/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $0.94
    •  
  • 536 N Cooper Street Clayton, NC 2
    • 3 beds 2 baths ∙ 1,257 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,257 Sqft ∙ Built 2017
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $0.95
    •  
  • 43 W Falcon Court Clayton, NC 4
    • 4 beds 3 baths ∙ 1,556 Sqft ∙ Built 2019 4 beds 3 baths ∙ 1,556 Sqft ∙ Built 2019
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.93
    •  
  • 134 W Lumber Street Clayton, NC 5
    • 3 beds 3 baths ∙ 1,525 Sqft ∙ Built 2019 3 beds 3 baths ∙ 1,525 Sqft ∙ Built 2019
    LEASED 10/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.95
    •  
PROPERTY LISTING DETAILS
David Wilson
1.919.659.5605
Carolina's Choice Real Estate
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2360736
Last Updated: 01/08/2021
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