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702 S Almond Drive Simpsonville, SC 29681

4 Beds 3 Baths - sqft Built 1983

INVESTimate

$298,000

List Price

$1,870

$1,683 - $2,057

Rent Est.

$308,043  ( +3.37%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1983
  • Price/Sqft : $111.24
  • 6 Days on Market
  • MLS # : 1425538
  • Updated Date : 08/24/2020 at 21:48
CONSTRUCTION
  • Beds : 4
  • Floor Size : '-'
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Greenville Cen

Listing Agent's Description

The leaves will be changing soon and what a perfect time for front porch living at its finest! The property is adorned by beautiful mature trees. This beautiful home features plenty of room for entertaining. The updated kitchen features stainless appliances, solid surface countertops, built-in desk area, large walk-in pantry, and beautiful cabinetry. The room located just off the kitchen can be used as flex space for an office/desk space but can easily be a kids TV room, or a formal living room that flows into a formal dining room. The possibilities are endless! You will absolutely fall in LOVE with the sunroom on the back of the house. This room is perfect for a play area, dining area, or just may be a hobbyist dream! The large laundry off of this room features outdoor access, a laundry sink, and closet. The quaint den features built -ins on both sides of the wood burning fireplace. Upstairs you will find 3 guest rooms with closets, a hall bath, and a large master suite with master bath with large walk in closet, dressing area and separate bath space for plenty of privacy. The WOW doesn't end inside: in the backyard you will find an entertainers dream backyard with a treehouse, fire pit, , large deck, and so much more! Located approximately 5 minutes from I385 and the Southern Connector and convenient to plenty of shopping and dining on Fairview Road! *The house is wired w/ a generator transfer switch which allows easy hook up of a generator in case of power outages. Simply plug in generator, utilize the switch & house is powered.

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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
Bryson Middle School Middle Regular 1,037 59 7
Hillcrest High School High Regular 2,106 103 6

Simpsonville Elementary School

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

Bryson Middle School

  • Education Level: Middle
  • # of students: 1,037
  • # of teachers: 59
7
GreatSchools Rating

Hillcrest High School

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

$268,200$327,800$298,000

PURCHASE PRICE

$1,683$2,057$1,870

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$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$700k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,870
EXPENSES Loan Payment -$1,099
Property Tax -$399
Property Insurance -$76
Property Management Fees -$150
CASH FLOW
$146

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.

$298,000

PROJECTED PRICE

$1,870

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.42%
Appreciation Year (1-5) 3.37%
Maintenance Year (1-5) 8.00%
Vacancy 6.12%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$84,720

INVESTMENT

$84,720

Down Payment
$74,500
Rehab Estimate
$5,750
Closing Costs
$4,470

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,099

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $74,500
Loan Amount $223,500
See What Happens When You Reinvest Cash Flow

7.08

YEARS SAVED

$30,165

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,870

    LIST RENT
  • $0.7

    LIST RENT PER SQFT
  • $1,893

    COMP ESTIMATED VALUE
  • $0.71

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,8503$1,8704$1,995
$1,995
RENT COMPS ANALYSIS
* Sqft is provided from public sources
  • 702 S Almond Drive Simpsonville, 3
    • 4 beds 3 baths ∙ 2,679 Sqft ∙ Built 1983 4 beds 3 baths ∙ 2,679 Sqft ∙ Built 1983
    • Rent
    • Rent Per SQFT
    •  
    • $1,870
    • $0.70
    •  
  • 200 Falling Spring Court Simpsonville, 1
    • 4 beds 3 baths ∙ 2,583 Sqft ∙ Built 4 beds 3 baths ∙ 2,583 Sqft ∙ Built
    LEASED 05/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.62
    •  
  • 274 Oak Branch Drive Simpsonville, 2
    • 4 beds 3 baths ∙ 2,526 Sqft ∙ Built 4 beds 3 baths ∙ 2,526 Sqft ∙ Built
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.73
    •  
  • 272 Oak Branch Drive Simpsonville, 4
    • 5 beds 3 baths ∙ 2,599 Sqft ∙ Built 5 beds 3 baths ∙ 2,599 Sqft ∙ Built
    LEASED 02/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.77
    •  
PROPERTY LISTING DETAILS
John Murphy
1.864.214.6584
Keller Williams Greenville Cen
Lauren Taylor
1.866.250.5610
Homeunion SC LLC
21064
( GGARMLS)
MLS #: 1425538
Last Updated: 08/24/2020
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