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623 Hunters Run Mebane, NC 27302

3 Beds 2 Baths 1,468 sqft Built 1987

$235,000

List Price

$1,300

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $160.08
  • 7 Days on Market
  • MLS # : 2368079
  • Updated Date : 02/24/2021 at 00:02
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,468 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

Well maintained, great layout, 3 BR ranch with updated interiors and vaulted ceilings. Eat in kitchen, lovely brick hearth, fenced yard, deck, oversized garage. Easy highway access and close to downtown Mebane and Lake Michael.

SEE MORE

MARKET HIGHLIGHTS

  • #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)
  • 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

Zip Code: 27302

ZipNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190kPrice in $88k192k

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

Zip Code: 27302

ZipNIR Market*CityMarket2010Year2000 Q32019 Q28509009501000105011001150120012501300Rent in $8461332

* 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
Efland-cheeks Elementary School Primary Regular 435 37 5
Gravelly Hill Middle School Middle Regular 495 38 4
Orange High School High Regular 1,305 79 7

Efland-cheeks Elementary School

  • Education Level: Primary
  • # of students: 435
  • # of teachers: 37
5
GreatSchools Rating

Gravelly Hill Middle School

  • Education Level: Middle
  • # of students: 495
  • # of teachers: 38
4
GreatSchools Rating

Orange High School

  • Education Level: High
  • # of students: 1,305
  • # of teachers: 79
7
GreatSchools Rating
 

$211,500$258,500$235,000

PURCHASE PRICE

$1,170$1,430$1,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,300
EXPENSES Loan Payment -$816
Property Tax -$248
Property Insurance -$54
Property Management Fees -$119
CASH FLOW
$62

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.

$235,000

PROJECTED PRICE

$1,300

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.65%
Appreciation Year (1-5) 4.4%
Maintenance Year (1-5) 8.00%
Vacancy 6.80%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

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$68,025

INVESTMENT

$68,025

Down Payment
$58,750
Rehab Estimate
$5,750
Closing Costs
$3,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$816

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $58,750
Loan Amount $176,250
See What Happens When You Reinvest Cash Flow

5.75

YEARS SAVED

$15,214

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,300

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,189

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,300
$1,300
RENT COMPS ANALYSIS
  • 623 Hunters Run Mebane, NC 2
    • 3 beds 2 baths ∙ 1,468 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,468 Sqft ∙ Built 1987
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.89
    •  
  • 510 E Webb Mebane, NC 1
    • 3 beds 2 baths ∙ 1,596 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,596 Sqft ∙ Built 2000
    LEASED 12/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.81
    •  
PROPERTY LISTING DETAILS
Rachel Zamorski
1.919.323.6068
Keller Williams Realty
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2368079
Last Updated: 02/24/2021
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