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767 Lakemont Drive Clayton, NC 27520

4 Beds 3 Baths 1,834 sqft Built 2020

$279,900

List Price

$1,480

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
January 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $152.62
  • 3 Days on Market
  • MLS # : 2363072
  • Updated Date : 01/23/2021 at 02:34
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,834 sqft
  • Baths : 2 full , 1 half
Listing Agent

Century 21 Triangle Group

Listing Agent's Description

Don't want to miss this! Selection sheets will be uploaded in documents for reference until professional photos are done.

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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

Neighborhood: Little Creek

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $101k265k

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

Neighborhood: Little Creek

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2800900100011001200130014001500Rent in $7711595

* 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
Cooper Academy Primary Regular 593 45 2
Riverwood Middle School Middle Regular 1,149 64 7
Clayton High School High Regular 1,512 85 5

Cooper Academy

  • Education Level: Primary
  • # of students: 593
  • # of teachers: 45
2
GreatSchools Rating

Riverwood Middle School

  • Education Level: Middle
  • # of students: 1,149
  • # of teachers: 64
7
GreatSchools Rating

Clayton High School

  • Education Level: High
  • # of students: 1,512
  • # of teachers: 85
5
GreatSchools Rating
 

$251,910$307,890$279,900

PURCHASE PRICE

$1,332$1,628$1,480

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,480
EXPENSES Loan Payment -$972
Property Tax -$287
Property Insurance -$63
HOA -$40
Property Management Fees -$119
CASH FLOW
-$2

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.

$279,900

PROJECTED PRICE

$1,480

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 5.4%
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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$76,174

INVESTMENT

$76,174

Down Payment
$69,975
Rehab Estimate
$2,000
Closing Costs
$4,199

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$972

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $69,975
Loan Amount $209,925
See What Happens When You Reinvest Cash Flow

5.33

YEARS SAVED

$15,766

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,480

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $1,444

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,480
1$1,4802$1,5003$1,5004$1,5505$1,650
$1,650
RENT COMPS ANALYSIS
  • 767 Lakemont Drive Clayton, NC 1
    • 4 beds 3 baths ∙ 1,834 Sqft ∙ Built 2020 4 beds 3 baths ∙ 1,834 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,480
    • $0.81
    •  
  • 213 Lynn Drive Clayton, NC 2
    • 3 beds 3 baths ∙ 1,807 Sqft ∙ Built 2018 3 beds 3 baths ∙ 1,807 Sqft ∙ Built 2018
    property image
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.83
    •  
  • 171 Averasboro Drive Clayton, NC 3
    • 3 beds 3 baths ∙ 1,947 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,947 Sqft ∙ Built 2007
    property image
    LEASED 01/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.77
    •  
  • 36 W Falcon Court Clayton, NC 4
    • 4 beds 3 baths ∙ 1,950 Sqft ∙ Built 2019 4 beds 3 baths ∙ 1,950 Sqft ∙ Built 2019
    property image
    LEASED 09/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.79
    •  
  • 76 Saddle Oaks Lane Clayton, NC 5
    • 4 beds 3 baths ∙ 2,175 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,175 Sqft ∙ Built 2020
    property image
    LEASED 12/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.76
    •  
PROPERTY LISTING DETAILS
Adam Noe
1.919.987.6505
Century 21 Triangle Group
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2363072
Last Updated: 01/23/2021
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