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8016 Spiderlily Court Zebulon, NC 27597

4 Beds 3 Baths 2,234 sqft Built 2016

$275,000

List Price

$1,670

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 03, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $123.10
  • 6 Days on Market
  • MLS # : 2369870
  • Updated Date : 03/03/2021 at 16:27
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,234 sqft
  • Baths : 2 full , 1 half
Listing Agent

Linda Craft & Team, Realtors

Listing Agent's Description

Your chance to live on a quiet cul de sac next to the upcoming Greenway! Amazing 4 bedroom home offers NEW quartz counters with waterfall edge, new pendant lights, zero radius kitchen sink. Open kitchen offers plenty of cabinets and stainless steel appliances, overlooking big backyard. Spacious living room features a gas log fireplace. Master offers cathedral ceiling, private bath w/dual vanity and walk-in closet. Convenient to Downtown Zebulon, shopping, dining & Hwy 64. Such a gem - WOW!!

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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Taryn Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $106k265k

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

Neighborhood: Taryn Meadows

NeighborhoodNIR 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 Unknown 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
 

$247,500$302,500$275,000

PURCHASE PRICE

$1,503$1,837$1,670

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,670
EXPENSES Loan Payment -$955
Property Tax -$250
Property Insurance -$71
HOA -$17
Property Management Fees -$119
CASH FLOW
$258

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$275,000

PROJECTED PRICE

$1,670

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 4.6%
Maintenance Year (1-5) 8.00%
Vacancy 7.49%
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

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$78,625

INVESTMENT

$78,625

Down Payment
$68,750
Rehab Estimate
$5,750
Closing Costs
$4,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$955

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $68,750
Loan Amount $206,250
See What Happens When You Reinvest Cash Flow

10.33

YEARS SAVED

$41,385

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,670

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $1,668

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,5453$1,6454$1,670
$1,670
RENT COMPS ANALYSIS
  • 8016 Spiderlily Court Zebulon, NC 4
    • 4 beds 3 baths ∙ 2,234 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,234 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $1,670
    • $0.75
    •  
  • 1236 Braemar Highland Drive Zebulon, NC 1
    • 4 beds 3 baths ∙ 2,000 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,000 Sqft ∙ Built 2000
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.75
    •  
  • 1302 Pearces Road Zebulon, NC 2
    • 4 beds 3 baths ∙ 2,050 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,050 Sqft ∙ Built 2005
    LEASED 10/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,545
    • $0.75
    •  
  • 6112 Watsonia Drive Zebulon, NC 3
    • 3 beds 3 baths ∙ 2,231 Sqft ∙ Built 2019 3 beds 3 baths ∙ 2,231 Sqft ∙ Built 2019
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,645
    • $0.74
    •  
PROPERTY LISTING DETAILS
Linda Craft
1.919.235.0007
Linda Craft & Team, Realtors
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2369870
Last Updated: 03/03/2021
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