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708 Roosevelt Street Mebane, NC 27302

3 Beds 3 Baths 1,920 sqft Built 2021

$259,999

List Price

$1,530

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $135.42
  • 23 Days on Market
  • MLS # : 2359406
  • Updated Date : 12/30/2020 at 16:14
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,920 sqft
  • Baths : 2 full , 1 half
Listing Agent

Amg Realty Llc

Listing Agent's Description

Gorgeous NEW Construction (Presale Opportunity - Not Built) in Fantastic Mebane Location. Great Open Floor plan w/ 3 huge bedrooms. Granite Counter tops and island in kitchen w/ pantry closet. Fireplace. Stainless Steal range, dishwasher, and microwave. NO HOA!! Let's Do A Deal!!!!!

SEE MORE

MARKET HIGHLIGHTS

  • #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
  • 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

Zip Code: 27302

ZipNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190kPrice in $88k192k

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

Zip Code: 27302

ZipNIR Market*CityMarket2010Year2000 Q32019 Q28509009501000105011001150120012501300Rent in $8461332

* 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
South Mebane Elementary School Primary Regular 581 35 7
Woodlawn Middle School Middle Regular 584 36 8
Eastern Alamance High School High Regular 1,256 66 6

South Mebane Elementary School

  • Education Level: Primary
  • # of students: 581
  • # of teachers: 35
7
GreatSchools Rating

Woodlawn Middle School

  • Education Level: Middle
  • # of students: 584
  • # of teachers: 36
8
GreatSchools Rating

Eastern Alamance High School

  • Education Level: High
  • # of students: 1,256
  • # of teachers: 66
6
GreatSchools Rating
 

$233,999$285,999$259,999

PURCHASE PRICE

$1,377$1,683$1,530

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,530
EXPENSES Loan Payment -$959
Property Tax -$205
Property Insurance -$63
Property Management Fees -$119
CASH FLOW
$184

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.

$259,999

PROJECTED PRICE

$1,530

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.65%
Appreciation Year (1-5) 4.4%
Maintenance Year (1-5) 3.00%
Vacancy 6.80%
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$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$70,900

INVESTMENT

$70,900

Down Payment
$65,000
Rehab Estimate
$2,000
Closing Costs
$3,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$959

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $65,000
Loan Amount $194,999
See What Happens When You Reinvest Cash Flow

8.75

YEARS SAVED

$38,230

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,530

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $1,574

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,530
1$1,5302$1,695
$1,695
RENT COMPS ANALYSIS
  • 708 Roosevelt Street Mebane, NC 1
    • 3 beds 3 baths ∙ 1,920 Sqft ∙ Built 2021 3 beds 3 baths ∙ 1,920 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $1,530
    • $0.80
    •  
  • 105 Luray Lane Mebane, NC 2
    • 4 beds 3 baths ∙ 2,070 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,070 Sqft ∙ Built 2020
    LEASED 11/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.82
    •  
PROPERTY LISTING DETAILS
Adam Grossman
1.919.451.5717
Amg Realty Llc
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2359406
Last Updated: 12/30/2020
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