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721 Frosty Way Zebulon, NC 27597

5 Beds 3 Baths 2,805 sqft Built 2021

$282,900

List Price

$1,860

$1.7K - $2K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $100.86
  • 23 Days on Market
  • MLS # : 2360335
  • Updated Date : 01/21/2021 at 16:22
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,805 sqft
  • Baths : 2 full , 1 half
Listing Agent

Lgi Realty Nc, Llc

Listing Agent's Description

A gorgeous formal room off the entry offers flex space that can be used to fit your needs. The back of the home boasts an open floor plan and an incredible kitchen overlooking it all! Featuring gorgeous granite countertops, a complete suite of energy-efficient Whirlpool appliances, wood cabinetry with crown molding and more, this kitchen is ready to use from day one! Each bedroom has tons of space and a walk-in closet!

SEE MORE

MARKET HIGHLIGHTS

  • 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
  • Major employers in Raleigh area: IBM, Cisco systems, Fidelity Investments, GlaxoSmithKline, RTI International
  • One of Top 10 cities for Small Business Friendliness (Thumbtack, 2018)

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
 

$254,610$311,190$282,900

PURCHASE PRICE

$1,674$2,046$1,860

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,860
EXPENSES Loan Payment -$983
Property Tax -$236
Property Insurance -$82
HOA -$25
Property Management Fees -$119
CASH FLOW
$416

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.

$282,900

PROJECTED PRICE

$1,860

PROJECTED RENT

0.66%

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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k

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$76,969

INVESTMENT

$76,969

Down Payment
$70,725
Rehab Estimate
$2,000
Closing Costs
$4,244

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$983

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $70,725
Loan Amount $212,175
See What Happens When You Reinvest Cash Flow

13.25

YEARS SAVED

$61,011

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,860

    LIST RENT
  • $0.66

    LIST RENT PER SQFT
  • $1,795

    COMP ESTIMATED VALUE
  • $0.64

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,860
$1,860
RENT COMPS ANALYSIS
  • 721 Frosty Way Zebulon, NC 2
    • 5 beds 3 baths ∙ 2,805 Sqft ∙ Built 2021 5 beds 3 baths ∙ 2,805 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $1,860
    • $0.66
    •  
  • 6105 Watsonia Drive Zebulon, NC 1
    • 4 beds 3 baths ∙ 2,635 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,635 Sqft ∙ Built 2019
    LEASED 04/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.64
    •  
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 #: 2360335
Last Updated: 01/21/2021
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