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705 Frosty Way Zebulon, NC 27597

3 Beds 3 Baths 1,800 sqft Built 2021

$242,900

List Price

$1,420

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $134.94
  • 3 Days on Market
  • MLS # : 2360639
  • Updated Date : 01/08/2021 at 16:12
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,800 sqft
  • Baths : 2 full , 1 half
Listing Agent

Lgi Realty Nc, Llc

Listing Agent's Description

This stunning home has the open floor plan you desire! The spacious kitchen offers plenty of room to move around and high-end finishes such as a complete suite of energy-efficient Whirlpool® appliances, beautiful granite counter tops, real wood cabinetry with crown molding, and more. Upstairs, an incredible loft space offers an ideal flex space for your family to use as an office or game room! The master suite boasts a vaulted ceiling, large private bath and expansive walk-in closet.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • #7 Best Big City for Jobs 2018 (Forbes, 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

PRICE & RENT TRENDS

Zip Code: 27597

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $106k265k

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

Zip Code: 27597

ZipNIR Market*CityMarket2010Year2000 Q22019 Q2800900100011001200130014001500Rent in $7591595

* 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
Zebulon Elementary School Primary Magnet 539 42 3
Zebulon Middle School Middle Magnet 556 42 3
East Wake High School High Regular NA

Zebulon Elementary School

  • Education Level: Primary
  • # of students: 539
  • # of teachers: 42
3
GreatSchools Rating

Zebulon Middle School

  • Education Level: Middle
  • # of students: 556
  • # of teachers: 42
3
GreatSchools Rating

East Wake High School

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

$218,610$267,190$242,900

PURCHASE PRICE

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

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,420
EXPENSES Loan Payment -$844
Property Tax -$203
Property Insurance -$62
HOA -$25
Property Management Fees -$119
CASH FLOW
$167

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$242,900

PROJECTED PRICE

$1,420

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 4.6%
Maintenance Year (1-5) 3.00%
Vacancy 7.47%
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$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$66,369

INVESTMENT

$66,369

Down Payment
$60,725
Rehab Estimate
$2,000
Closing Costs
$3,644

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$844

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $60,725
Loan Amount $182,175
See What Happens When You Reinvest Cash Flow

9.5

YEARS SAVED

$33,672

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
  • $0.79

    LIST RENT PER SQFT
  • $1,464

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,420
1$1,4202$1,4453$1,4754$1,475
$1,475
RENT COMPS ANALYSIS
  • 705 Frosty Way Zebulon, NC 1
    • 3 beds 3 baths ∙ 1,800 Sqft ∙ Built 2021 3 beds 3 baths ∙ 1,800 Sqft ∙ Built 2021
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,420
    • $0.79
    •  
  • 708 Kenyon Spring Drive Zebulon, NC 2
    • 4 beds 3 baths ∙ 1,801 Sqft ∙ Built 2019 4 beds 3 baths ∙ 1,801 Sqft ∙ Built 2019
    property image
    LEASED 04/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,445
    • $0.80
    •  
  • 728 Kenyon Spring Drive Zebulon, NC 3
    • 4 beds 3 baths ∙ 1,801 Sqft ∙ Built 2019 4 beds 3 baths ∙ 1,801 Sqft ∙ Built 2019
    property image
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.82
    •  
  • 201 Quincy Meadow Avenue Zebulon, NC 4
    • 4 beds 3 baths ∙ 1,801 Sqft ∙ Built 2019 4 beds 3 baths ∙ 1,801 Sqft ∙ Built 2019
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.82
    •  
PROPERTY LISTING DETAILS
Dayne Luck
Lgi Realty Nc, Llc
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2360639
Last Updated: 01/08/2021
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