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PROPERTY INFO
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
- 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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Downtown Clayton
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$68,555
LOAN DETAILS
$823
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $59,250 |
| Loan Amount | $177,750 |
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
-
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
1.919.659.5605
Carolina's Choice Real Estate
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
MLS #: 2360736
Last Updated: 01/08/2021
