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

655 Tylerstone Drive Fuquay Varina, NC 27526

3 Beds 2 Baths 1,995 sqft Built 2006

$300,000

List Price

$1,510

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $150.38
  • 4 Days on Market
  • MLS # : 2370069
  • Updated Date : 03/04/2021 at 17:17
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,995 sqft
  • Baths : 2 full
Listing Agent

Exp Realty

Listing Agent's Description

Showings to begin Friday 3/12

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: Victoria Hills

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $133k359k

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

Neighborhood: Victoria Hills

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2900100011001200130014001500160017001800Rent in $8941873

* 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
Lafayette Elementary School Primary Regular 712 41 7
Harnett Central Middle School Middle Regular 1,197 77 3
Harnett Central High School High Regular 1,541 88 3

Lafayette Elementary School

  • Education Level: Primary
  • # of students: 712
  • # of teachers: 41
7
GreatSchools Rating

Harnett Central Middle School

  • Education Level: Middle
  • # of students: 1,197
  • # of teachers: 77
3
GreatSchools Rating

Harnett Central High School

  • Education Level: High
  • # of students: 1,541
  • # of teachers: 88
3
GreatSchools Rating
 

$270,000$330,000$300,000

PURCHASE PRICE

$1,359$1,661$1,510

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,510
EXPENSES Loan Payment -$1,042
Property Tax -$193
Property Insurance -$66
HOA -$5
Property Management Fees -$119
CASH FLOW
$85

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 16% of earned rent to cover both maintenance and periods of vacancy.

$300,000

PROJECTED PRICE

$1,510

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.33%
Appreciation Year (1-5) 6.6%
Maintenance Year (1-5) 8.00%
Vacancy 7.51%
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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,042

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $75,000
Loan Amount $225,000
See What Happens When You Reinvest Cash Flow

7.67

YEARS SAVED

$29,753

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,510

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $1,629

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,5103$1,6254$1,645
$1,645
RENT COMPS ANALYSIS
  • 655 Tylerstone Drive Fuquay Varina, NC 2
    • 3 beds 2 baths ∙ 1,995 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,995 Sqft ∙ Built 2006
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,510
    • $0.76
    •  
  • 176 Smithwood Drive Fuquay Varina, NC 1
    • 3 beds 3 baths ∙ 1,820 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,820 Sqft ∙ Built 2004
    property image
    LEASED 05/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.82
    •  
  • 465 Mineral Springs Lane Fuquay Varina, NC 3
    • 3 beds 3 baths ∙ 1,900 Sqft ∙ Built 2019 3 beds 3 baths ∙ 1,900 Sqft ∙ Built 2019
    property image
    LEASED 10/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.86
    •  
  • 58 Planters Glen Drive Angier, NC 4
    • 4 beds 3 baths ∙ 2,138 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,138 Sqft ∙ Built 2002
    property image
    LEASED 09/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,645
    • $0.77
    •  
PROPERTY LISTING DETAILS
Leonna Weiss
1.888.584.9431
Exp Realty
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2370069
Last Updated: 03/04/2021
BESbswy