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717 Starkland Way Holly Springs, NC 27540

3 Beds 3 Baths 1,740 sqft Built 1994

$289,417

List Price

$1,510

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 03, 2020 RECENTLY ADDED
FACTS
  • Built In 1994
  • Price/Sqft : $166.33
  • 2 Days on Market
  • MLS # : 2351754
  • Updated Date : 11/02/2020 at 23:44
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,740 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Legacy

Listing Agent's Description

Professional Pictures and Measurements coming 11/5/2020. Great Home in a Great Neighborhood. Will not last long.

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

Neighborhood: Oak Hall

NeighborhoodNIR Market*CityMarket2010Year20002019160k180k200k220k240k260k280k300k320k340k360k380kPrice in $146k400k

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

Neighborhood: Oak Hall

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2100011001200130014001500160017001800Rent in $9461873

* 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
Oakview Elementary School Primary Regular NA
Apex Friendship Middle Middle Regular NA
Holly Springs High School High Regular 2,418 122 7

Oakview Elementary School

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

Apex Friendship Middle

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

Holly Springs High School

  • Education Level: High
  • # of students: 2,418
  • # of teachers: 122
7
GreatSchools Rating
 

$260,475$318,359$289,417

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 -$1,068
Property Tax -$219
Property Insurance -$61
HOA -$33
Property Management Fees -$136
CASH FLOW
-$7

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.

$289,417

PROJECTED PRICE

$1,510

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.33%
Appreciation Year (1-5) 5.8%
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

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$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,446

INVESTMENT

$82,446

Down Payment
$72,354
Rehab Estimate
$5,750
Closing Costs
$4,341

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,068

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $72,354
Loan Amount $217,063
See What Happens When You Reinvest Cash Flow

5.17

YEARS SAVED

$18,638

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
  • $0.87

    LIST RENT PER SQFT
  • $1,605

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,510
1$1,5102$1,5493$1,5954$1,6685$1,750
$1,750
RENT COMPS ANALYSIS
  • 717 Starkland Way Holly Springs, NC 1
    • 3 beds 3 baths ∙ 1,740 Sqft ∙ Built 1994 3 beds 3 baths ∙ 1,740 Sqft ∙ Built 1994
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,510
    • $0.87
    •  
  • 309 Palmdale Court Holly Springs, NC 2
    • 3 beds 3 baths ∙ 1,727 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,727 Sqft ∙ Built 2005
    property image
    LEASED 09/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,549
    • $0.90
    •  
  • 240 Milpass Drive Holly Springs, NC 3
    • 3 beds 3 baths ∙ 1,670 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,670 Sqft ∙ Built 2005
    property image
    LEASED 07/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.96
    •  
  • 1201 Linden Ridge Drive Holly Springs, NC 4
    • 3 beds 3 baths ∙ 1,833 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,833 Sqft ∙ Built 1998
    property image
    LEASED 05/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,668
    • $0.91
    •  
  • 405 St Kitts Court Holly Springs, NC 5
    • 4 beds 3 baths ∙ 1,900 Sqft ∙ Built 1994 4 beds 3 baths ∙ 1,900 Sqft ∙ Built 1994
    property image
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.92
    •  
PROPERTY LISTING DETAILS
Mike Joseph
1.919.268.5424
Keller Williams Legacy
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2351754
Last Updated: 11/02/2020
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