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718 Terrace Creek Drive Duncan, SC 29334

4 Beds 3 Baths - sqft Built 2001

$175,000

List Price

$1,520

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 22, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $87.85
  • 1 Days on Market
  • MLS # : 1432284
  • Updated Date : 11/22/2020 at 03:32
CONSTRUCTION
  • Beds : 4
  • Floor Size : '-'
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Easley/powd

Listing Agent's Description

Fantastic deal on this cozy 4BR/2.5BA home located in Duncan's Woodsberry subdivision. The current owner shares a little of their experience, "We fell in love with this home immediately. The open floor plan allows me to be in the kitchen and watch my kids play in the great room or still be involved with conversations when we have friends or family visits. We truly enjoy entertaining with the grill on the back patio which is just off the breakfast room. The downstairs allows everyone plenty of space to spread out using the living room, dining room, kitchen/eat-in area and the great room. Having the garage is great on rainy days when we need to unload all the groceries and the kids. I also enjoyed have all the bedrooms upstairs with a full walk-in laundry room. No carrying laundry up and down stairs. The landing area upstairs often becomes a social center for all to join in. All the bedrooms are nice and roomy with really good size closets. Hard to leave this place we have called home for over 6.5 years." Property being sold AS-IS and an AS-IS addendum will be required with offer. The amenities include a pool+kiddie pool with bathrooms, a recently refurbished playground and a large lot all located directly behind this property. The back fence actually has a gate to allow for easy access to these common areas. Conveniently located between Greenville & Spartanburg, both are just minutes away. Approximately 2 miles off of I-85 Exit 63 will allow homeowners the convenience of traveling. Highway 290 has a plethora of restaurants, grocery stores and other convenient retail shopping. The upstate's popular BMW plant and GSP International airport are just 10 minutes away.

SEE MORE

PRICE & RENT TRENDS

Zip Code: 29334

ZipNIR Market*CityMarket2010Year2000201960k70k80k90k100k110k120k130k140k150k160k170k180kPrice in $58k186k

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

Zip Code: 29334

ZipNIR Market*CityMarket2010Year20002019 Q270080090010001100120013001400Rent in $6031407

* 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
Berry Shoals Intermediate School Primary Regular 575 42 8
Berry Shoals Intermediate School Middle Regular 575 42 8
James F. Byrnes Freshman Academy High Regular 608 32 7

Berry Shoals Intermediate School

  • Education Level: Primary
  • # of students: 575
  • # of teachers: 42
8
GreatSchools Rating

Berry Shoals Intermediate School

  • Education Level: Middle
  • # of students: 575
  • # of teachers: 42
8
GreatSchools Rating

James F. Byrnes Freshman Academy

  • Education Level: High
  • # of students: 608
  • # of teachers: 32
7
GreatSchools Rating
 

$157,500$192,500$175,000

PURCHASE PRICE

$1,368$1,672$1,520

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,520
EXPENSES Loan Payment -$646
Property Tax -$330
Property Insurance -$64
Property Management Fees -$122
CASH FLOW
$359

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.

$175,000

PROJECTED PRICE

$1,520

PROJECTED RENT

0.87%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.52%
Appreciation Year (1-5) 5.8%
Maintenance Year (1-5) 8.00%
Vacancy 7.90%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$52,125

INVESTMENT

$52,125

Down Payment
$43,750
Rehab Estimate
$5,750
Closing Costs
$2,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 25% down payment or higher enables the proceeds from the asset to cover all costs.

$646

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $43,750
Loan Amount $131,250
See What Happens When You Reinvest Cash Flow

13.25

YEARS SAVED

$43,097

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,520

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $1,501

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,5003$1,5204$1,550
$1,550
RENT COMPS ANALYSIS
* Sqft is provided from public sources
  • 718 Terrace Creek Drive Duncan, SC 3
    • 4 beds 3 baths ∙ 1,992 Sqft ∙ Built 2001 4 beds 3 baths ∙ 1,992 Sqft ∙ Built 2001
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,520
    • $0.76
    •  
  • 161 Timberleaf Drive Duncan, SC 1
    • 4 beds 3 baths ∙ 2,040 Sqft ∙ Built 4 beds 3 baths ∙ 2,040 Sqft ∙ Built
    property image
    LEASED 04/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.73
    •  
  • 380 Meadowpark Lane Duncan, SC 2
    • 3 beds 2 baths ∙ 1,963 Sqft ∙ Built 3 beds 2 baths ∙ 1,963 Sqft ∙ Built
    property image
    LEASED 11/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.76
    •  
  • 823 Terrace Creek Drive Duncan, SC 4
    • 4 beds 3 baths ∙ 2,026 Sqft ∙ Built 4 beds 3 baths ∙ 2,026 Sqft ∙ Built
    property image
    LEASED 11/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.77
    •  
PROPERTY LISTING DETAILS
Brannon Rice
1.864.640.1191
Keller Williams Easley/powd
Lauren Taylor
1.866.250.5610
Homeunion SC LLC
21064
( GGARMLS)
MLS #: 1432284
Last Updated: 11/22/2020
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