Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

76 Lisburn Court Garner, NC 27529

4 Beds 2 Baths 1,902 sqft Built 2020

INVESTimate

$299,989

List Price

$1,560

$1,404 - $1,716

Rent Est.

$314,688  ( +4.90%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
FACTS
  • Built In 2020
  • Price/Sqft : $157.72
  • 23 Days on Market
  • MLS # : 2335259
  • Updated Date : 08/25/2020 at 23:45
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,902 sqft
  • Baths : 2 full
Listing Agent

Sgw Real Estate

Listing Agent's Description

Ready to move in home with lots of upgrades. Beautiful farmhouse front door; Blinds throughout including back glass door, granite countertops, back splash, pendant lighting in kitchen, electric stove has air fryer included; there is a gas line in kitchen, upgraded carpet and laminate flooring, garage door upgraded w window panels/sensor lights. Owner had ATT dig lines to home for fiber optic internet or 4G & installed electric connections box inside for easy setup. Clubhouse w pool & 24 hr gym.

SEE MORE

MARKET HIGHLIGHTS

  • 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
  • #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)

PRICE & RENT TRENDS

Zip Code: 27529

ZipNIR Market*CityMarket2010Year20002019140k150k160k170k180k190k200k210k220k230k240k250k260kPrice in $132k265k

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

Zip Code: 27529

ZipNIR Market*CityMarket2010Year2000 Q22019 Q2950100010501100115012001250130013501400145015001550Rent in $9461595

* 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
Cleveland Elementary School Primary Regular 835 49 6
Cleveland Middle School Middle Regular 1,163 64 7
West Johnston High School High Regular 1,359 83 5

Cleveland Elementary School

  • Education Level: Primary
  • # of students: 835
  • # of teachers: 49
6
GreatSchools Rating

Cleveland Middle School

  • Education Level: Middle
  • # of students: 1,163
  • # of teachers: 64
7
GreatSchools Rating

West Johnston High School

  • Education Level: High
  • # of students: 1,359
  • # of teachers: 83
5
GreatSchools Rating
 

$269,990$329,988$299,989

PURCHASE PRICE

$1,404$1,716$1,560

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,560
EXPENSES Loan Payment -$1,107
Property Tax -$193
Property Insurance -$64
HOA -$83
Property Management Fees -$140
CASH FLOW
-$27

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.

$299,989

PROJECTED PRICE

$1,560

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 4.90%
Maintenance Year (1-5) 3.00%
Vacancy 7.49%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$81,497

INVESTMENT

$81,497

Down Payment
$74,997
Rehab Estimate
$2,000
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $74,997
Loan Amount $224,992
See What Happens When You Reinvest Cash Flow

4.25

YEARS SAVED

$14,727

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,560

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $1,357

    COMP ESTIMATED VALUE
  • $0.71

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,4953$1,5604$1,675
$1,675
RENT COMPS ANALYSIS
  • 76 Lisburn Court Garner, 3
    • 4 beds 2 baths ∙ 1,902 Sqft ∙ Built 2020 4 beds 2 baths ∙ 1,902 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,560
    • $0.82
    •  
  • 51 Iroquois Court Garner, 1
    • 3 beds 3 baths ∙ 2,200 Sqft ∙ Built 2017 3 beds 3 baths ∙ 2,200 Sqft ∙ Built 2017
    LEASED 09/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.68
    •  
  • 83 Lars Lane Garner, 2
    • 3 beds 3 baths ∙ 2,182 Sqft ∙ Built 2008 3 beds 3 baths ∙ 2,182 Sqft ∙ Built 2008
    LEASED 11/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.69
    •  
  • 88 Thimble Way Garner, 4
    • 4 beds 3 baths ∙ 2,186 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,186 Sqft ∙ Built 2016
    LEASED 06/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.77
    •  
PROPERTY LISTING DETAILS
Sandra Weatherford
1.919.616.8054
Sgw Real Estate
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2335259
Last Updated: 08/25/2020
BESbswy