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64 Belk Court Clayton, NC 27520

3 Beds 2 Baths 1,632 sqft Built 2004

$265,000

List Price

$1,540

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $162.38
  • 20 Days on Market
  • MLS # : 2367197
  • Updated Date : 03/06/2021 at 17:04
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,632 sqft
  • Baths : 2 full
Listing Agent

Southern Realty Group Inc.

Listing Agent's Description

This is a must see fully upgraded and fresh home! With New LVP flooring through out with plush new carpet in the spacious bedrooms...then you walk into a gorgeous white kitchen with marble granite countertops and new appliances! After that walk into two great bathrooms! Once you have toured this breathtaking home walk out onto the huge covered deck down to the patio and over and acre yard! There is even a she shed with power for all your crafty ideas or perfect backyard nights!

SEE MORE

MARKET HIGHLIGHTS

  • 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
  • One of Top 10 cities for Small Business Friendliness (Thumbtack, 2018)

PRICE & RENT TRENDS

Neighborhood: Meredith Acres

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $107k265k

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

Neighborhood: Meredith Acres

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2900100011001200130014001500Rent in $8231595

* 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
Polenta Elementary School Primary Regular 1,011 66 6
Swift Creek Middle School Middle Regular NA
Cleveland High School High Regular 1,468 80 6

Polenta Elementary School

  • Education Level: Primary
  • # of students: 1,011
  • # of teachers: 66
6
GreatSchools Rating

Swift Creek Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Cleveland High School

  • Education Level: High
  • # of students: 1,468
  • # of teachers: 80
6
GreatSchools Rating
 

$238,500$291,500$265,000

PURCHASE PRICE

$1,386$1,694$1,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,540
EXPENSES Loan Payment -$920
Property Tax -$168
Property Insurance -$59
Property Management Fees -$119
CASH FLOW
$274

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.

$265,000

PROJECTED PRICE

$1,540

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 5.4%
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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

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$75,975

INVESTMENT

$75,975

Down Payment
$66,250
Rehab Estimate
$5,750
Closing Costs
$3,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$920

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $66,250
Loan Amount $198,750
See What Happens When You Reinvest Cash Flow

11.17

YEARS SAVED

$44,059

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,540

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,428

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,100
1$1,1002$1,4403$1,540
$1,540
RENT COMPS ANALYSIS
  • 64 Belk Court Clayton, NC 3
    • 3 beds 2 baths ∙ 1,632 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,632 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,540
    • $0.94
    •  
  • 1005 Charlie Lane Clayton, NC 1
    • 3 beds 2 baths ∙ 1,320 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,320 Sqft ∙ Built 1992
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.83
    •  
  • 64 Thornhill Drive Clayton, NC 2
    • 3 beds 2 baths ∙ 1,558 Sqft ∙ Built 2011 3 beds 2 baths ∙ 1,558 Sqft ∙ Built 2011
    LEASED 02/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,440
    • $0.92
    •  
PROPERTY LISTING DETAILS
Alyssa Upchurch
1.919.207.7545
Southern Realty Group Inc.
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2367197
Last Updated: 03/06/2021
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