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PROPERTY INFO
FACTS
- Single Family
- Built In 1986
- Price/Sqft : $185.61
- 2 Days on Market
- MLS # : 2367997
- Updated Date : 02/21/2021 at 02:59
CONSTRUCTION
- Beds : 3
- Floor Size : 1,293 sqft
- Baths : 2 full
Listing Agent
Exp Realty
Listing Agent's Description
The RANCH plan that you will fall in LOVE with at first sight! All HARDWOOD flooring throughout. Spacious LIVING w/ brick wood burning FP and separate DINING area, separate UTILITY ROOM, KITCHEN w/brkfst nook & PANTRY! New metal roof! All sitting on a .33 acre homesite surrounded by hardwood trees and privacy! This homesite has a lots of space for your families entertainment and yearly activities. USDA eligible! HURRY this one won't last long!
SEE MORE
- 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)
- 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
PRICE & RENT TRENDS
Zip Code: 27278
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 27278
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,280 |
| EXPENSES | Loan Payment | -$834 |
| Property Tax | -$187 | |
| Property Insurance | -$52 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$88
|
||
This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.
$240,000
PROJECTED PRICE
$1,280
PROJECTED RENT
0.53%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.42% |
| Appreciation Year (1-5) | 4.4% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 8.51% |
| 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
$69,350
LOAN DETAILS
$834
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $60,000 |
| Loan Amount | $180,000 |
6.83
YEARS SAVED
$19,847
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,280
LIST RENT -
$0.99
LIST RENT PER SQFT
-
$1,164
COMP ESTIMATED VALUE -
$0.9
COMP AVG. RENT PER SQFT
Comps Range
-
621 Buttonwood Drive Hillsborough, NC 1
- 3 beds 2 baths ∙ 1,293 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,293 Sqft ∙ Built 1986
![property image]()
- Rent
- Rent Per SQFT
- $1,280
- $0.99
-
205 S English Hill Lane Hillsborough, NC 2
- 3 beds 2 baths ∙ 1,563 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,563 Sqft ∙ Built 2001
![property image]()
LEASED 08/28/20- Rent
- Rent Per SQFT
- $1,400
- $0.90
PROPERTY LISTING DETAILS
1.919.636.5323
Exp Realty
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
MLS #: 2367997
Last Updated: 02/21/2021
