Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

649 Mccarthy Drive Clayton, NC 27527

3 Beds 3 Baths 1,651 sqft Built 2011

INVESTimate

$229,999

List Price

$1,420

$1,278 - $1,562

Rent Est.

$238,210  ( +3.57%)   1 YR EST. FORECAST

PROPERTY INFO

August 26, 2020 RECENTLY ADDED
FACTS
  • Built In 2011
  • Price/Sqft : $139.31
  • 2 Days on Market
  • MLS # : 2339074
  • Updated Date : 08/26/2020 at 00:13
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,651 sqft
  • Baths : 2 full , 1 half
Listing Agent

Hometowne Realty

Listing Agent's Description

**COMING SOON** Popular 3 bedroom home located in desirable Riverwood Athletic Club. 1st Floor Master w/fresh paint throughout entire home & new carpet!! Built in bookshelves in living room & gas fireplace. Screened in porch & fenced in yard that backs to woods. Onsite amenities include: athletic club w/indoor & outdoor pool, fitness center, walking trails, playground, coffee shop & more! This home won't last long!!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Riverwood Athletic Club Ravens Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019130k140k150k160k170k180k190k200k210k220k230k240k250k260kPrice in $121k265k

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

Neighborhood: Riverwood Athletic Club Ravens Ridge

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2950100010501100115012001250130013501400145015001550Rent in $9461595

* 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
Riverwood Elementary School Primary Regular 837 49 6
Riverwood Middle School Middle Regular 1,149 64 7
Corinth Holders High School High Regular 1,679 91 5

Riverwood Elementary School

  • Education Level: Primary
  • # of students: 837
  • # of teachers: 49
6
GreatSchools Rating

Riverwood Middle School

  • Education Level: Middle
  • # of students: 1,149
  • # of teachers: 64
7
GreatSchools Rating

Corinth Holders High School

  • Education Level: High
  • # of students: 1,679
  • # of teachers: 91
5
GreatSchools Rating
 

$206,999$252,999$229,999

PURCHASE PRICE

$1,278$1,562$1,420

RENT

DOWN PAYMENT
FINANCING

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$600k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,420
EXPENSES Loan Payment -$849
Property Tax -$236
Property Insurance -$59
HOA -$6
Property Management Fees -$128
CASH FLOW
$143

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.

$229,999

PROJECTED PRICE

$1,420

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 3.57%
Maintenance Year (1-5) 8.00%
Vacancy 7.49%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$66,700

INVESTMENT

$66,700

Down Payment
$57,500
Rehab Estimate
$5,750
Closing Costs
$3,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$849

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $57,500
Loan Amount $172,499
See What Happens When You Reinvest Cash Flow

7.58

YEARS SAVED

$26,838

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,420

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,420

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,345
1$1,3452$1,3503$1,4204$1,5155$1,550
$1,550
RENT COMPS ANALYSIS
  • 649 Mccarthy Drive Clayton, 3
    • 3 beds 3 baths ∙ 1,651 Sqft ∙ Built 2011 3 beds 3 baths ∙ 1,651 Sqft ∙ Built 2011
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,420
    • $0.86
    •  
  • 429 Mccarthy Drive Clayton, 1
    • 3 beds 3 baths ∙ 1,754 Sqft ∙ Built 2014 3 beds 3 baths ∙ 1,754 Sqft ∙ Built 2014
    property image
    LEASED 12/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,345
    • $0.77
    •  
  • 309 Stansbury Lane Clayton, 2
    • 3 beds 3 baths ∙ 1,545 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,545 Sqft ∙ Built 2002
    property image
    LEASED 11/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.87
    •  
  • 236 E Webber Lane Clayton, 4
    • 3 beds 2 baths ∙ 1,660 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,660 Sqft ∙ Built 2016
    property image
    LEASED 10/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,515
    • $0.91
    •  
  • 216 S Kramer Path Clayton, 5
    • 3 beds 3 baths ∙ 1,751 Sqft ∙ Built 2020 3 beds 3 baths ∙ 1,751 Sqft ∙ Built 2020
    property image
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.89
    •  
PROPERTY LISTING DETAILS
Diana May
1.919.608.7702
Hometowne Realty
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2339074
Last Updated: 08/26/2020
BESbswy