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635 Timber Walk Drive Simpsonville, SC 29681

3 Beds 3 Baths - sqft Built 2002

$205,000

List Price

$1,480

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 2002
  • Price/Sqft : $119.67
  • 2 Days on Market
  • MLS # : 1430879
  • Updated Date : 11/02/2020 at 20:15
CONSTRUCTION
  • Beds : 3
  • Floor Size : '-'
  • Baths : 2 full , 1 half
Listing Agent

That Realty Group

Listing Agent's Description

Amazing opportunity located right in the heart of Simpsonville! Timber Walk Subdivision is a cozy community of homes offering a wonderful common space to throw the football, walk the dog, or lead a community Yoga class. Timberwalk also boasts a beautiful walking path, sidewalks, and a playground! This traditional 2 story home features an open floor plan with freshly painted rooms, new lighting fixtures throughout, and a newly replaced roof in 2019. Head upstairs and check out the bonus room, 2 bedrooms, and an Owner's Suite with a private full bath, and walk in closets. Step outside to take in the spacious, fenced in backyard and patio, perfect for entertaining year round. This home is turn key ready and won't last long!

SEE MORE

PRICE & RENT TRENDS

Zip Code: 29681

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $85k259k

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

Zip Code: 29681

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9171760

* 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
Simpsonville Elementary School Primary Regular 787 43 7
Hillcrest Middle School Middle Regular 1,001 55 8
Hillcrest High School High Regular 2,106 103 6

Simpsonville Elementary School

  • Education Level: Primary
  • # of students: 787
  • # of teachers: 43
7
GreatSchools Rating

Hillcrest Middle School

  • Education Level: Middle
  • # of students: 1,001
  • # of teachers: 55
8
GreatSchools Rating

Hillcrest High School

  • Education Level: High
  • # of students: 2,106
  • # of teachers: 103
6
GreatSchools Rating
 

$184,500$225,500$205,000

PURCHASE PRICE

$1,332$1,628$1,480

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,480
EXPENSES Loan Payment -$756
Property Tax -$251
Property Insurance -$59
Property Management Fees -$118
CASH FLOW
$296

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$205,000

PROJECTED PRICE

$1,480

PROJECTED RENT

0.72%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.42%
Appreciation Year (1-5) 3.4%
Maintenance Year (1-5) 8.00%
Vacancy 6.12%
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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$60,075

INVESTMENT

$60,075

Down Payment
$51,250
Rehab Estimate
$5,750
Closing Costs
$3,075

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$756

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $51,250
Loan Amount $153,750
See What Happens When You Reinvest Cash Flow

11.67

YEARS SAVED

$43,689

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,480

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,502

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,375
1$1,3752$1,3953$1,3954$1,480
$1,480
RENT COMPS ANALYSIS
* Sqft is provided from public sources
  • 635 Timber Walk Drive Simpsonville, SC 4
    • 3 beds 3 baths ∙ 1,713 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,713 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,480
    • $0.86
    •  
  • 111 Goldrush Court Simpsonville, SC 1
    • 3 beds 2 baths ∙ 1,713 Sqft ∙ Built 3 beds 2 baths ∙ 1,713 Sqft ∙ Built
    LEASED 11/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.80
    •  
  • 12 Avalon Court Simpsonville, SC 2
    • 3 beds 2 baths ∙ 1,555 Sqft ∙ Built 3 beds 2 baths ∙ 1,555 Sqft ∙ Built
    LEASED 08/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.90
    •  
  • 513 Timber Walk Drive Simpsonville, SC 3
    • 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 3 beds 2 baths ∙ 1,500 Sqft ∙ Built
    LEASED 09/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.93
    •  
PROPERTY LISTING DETAILS
Erin Medlin
1.864.525.3606
That Realty Group
Lauren Taylor
1.866.250.5610
Homeunion SC LLC
21064
( GGARMLS)
MLS #: 1430879
Last Updated: 11/02/2020
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