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712 Swan Hill Court Fuquay Varina, NC 27526

3 Beds 2 Baths 1,489 sqft Built 1996

$290,000

List Price

$1,500

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $194.76
  • 2 Days on Market
  • MLS # : 2395245
  • Updated Date : 07/12/2021 at 22:32
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,489 sqft
  • Baths : 2 full
Listing Agent

Re/max United

Listing Agent's Description

Easy living in this 3 Bed\2 Bath +2 car garage RANCH in the Sandy Springs Subdivision! Master bedroom with double closet doors and updated en suite bath. Kitchen with SS appliances, renovated cabinets, faux granite laminate countertops, smooth top range, luxury plank floors, and new refrigerator. Smart Nest thermostat with brand new AC in 2021. Enjoy the private backyard w/a PVC picket fence, stamped concrete patio, and gazebo OR sit out front in the charming courtyard. Minutes to downtown Fuquay Varina!

SEE MORE

MARKET HIGHLIGHTS

  • #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)
  • 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

Neighborhood: Sandy Springs

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $114k265k

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

Neighborhood: Sandy Springs

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q29001000110012001300140015001600Rent in $8371610

* 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
Buckhorn Creek Elementary Primary Regular NA
Holly Grove Middle School Middle Regular 1,439 81 8
Fuquay-varina High School High Regular 2,117 114 7

Buckhorn Creek Elementary

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

Holly Grove Middle School

  • Education Level: Middle
  • # of students: 1,439
  • # of teachers: 81
8
GreatSchools Rating

Fuquay-varina High School

  • Education Level: High
  • # of students: 2,117
  • # of teachers: 114
7
GreatSchools Rating
 

$261,000$319,000$290,000

PURCHASE PRICE

$1,350$1,650$1,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,500
EXPENSES Loan Payment -$1,007
Property Tax -$212
Property Insurance -$56
HOA -$17
Property Management Fees -$119
CASH FLOW
$89

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.

$290,000

PROJECTED PRICE

$1,500

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.5%
Maintenance Year (1-5) 8.00%
Vacancy 7.49%
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$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

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$82,600

INVESTMENT

$82,600

Down Payment
$72,500
Rehab Estimate
$5,750
Closing Costs
$4,350

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,007

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $72,500
Loan Amount $217,500
See What Happens When You Reinvest Cash Flow

7.33

YEARS SAVED

$26,101

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,500

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $1,400

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,4903$1,500
$1,500
RENT COMPS ANALYSIS
  • 712 Swan Hill Court Fuquay Varina, NC 3
    • 3 beds 2 baths ∙ 1,489 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,489 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.01
    •  
  • 408 Hunters Ridge Fuquay Varina, NC 1
    • 3 beds 3 baths ∙ 1,423 Sqft ∙ Built 1992 3 beds 3 baths ∙ 1,423 Sqft ∙ Built 1992
    LEASED 07/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.95
    •  
  • 509 Birchtree Valley Court Fuquay Varina, NC 2
    • 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 2003
    LEASED 02/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,490
    • $0.93
    •  
PROPERTY LISTING DETAILS
Jenniffer Welch
1.919.649.7831
Re/max United
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2395245
Last Updated: 07/12/2021
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