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

808 S Phillips Pointe Drive Fuquay Varina, NC 27526

3 Beds 2 Baths 1,384 sqft Built 2000

$270,000

List Price

$1,250

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $195.09
  • 1 Days on Market
  • MLS # : 2395431
  • Updated Date : 07/13/2021 at 18:54
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,384 sqft
  • Baths : 2 full
Listing Agent

Better Homes & Gardens Real Estate Paracle

Listing Agent's Description

Updated and move in ready ranch floor plan home just minutes from downtown Fuquay-Varina!! Conveniently located near shopping, entertainment and restaurants and in a great community this home has it all. Kitchen has granite counter-tops, updated SS appliances and a great eat in kitchen space. The living room is open and spacious with a functional wood burning fireplace. Enjoy the large fenced yard and deck for entertaining + a shed for great additional storage.

SEE MORE

MARKET HIGHLIGHTS

  • #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)
  • 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

PRICE & RENT TRENDS

Neighborhood: Phillips Pointe

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $108k265k

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

Neighborhood: Phillips Pointe

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q29001000110012001300140015001600Rent in $8071610

* 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
Herbert Akins Road Elementary School Primary Regular 966 57 6
Fuquay-varina Middle School Middle Regular 819 55 4
Fuquay-varina High School High Regular 2,117 114 7

Herbert Akins Road Elementary School

  • Education Level: Primary
  • # of students: 966
  • # of teachers: 57
6
GreatSchools Rating

Fuquay-varina Middle School

  • Education Level: Middle
  • # of students: 819
  • # of teachers: 55
4
GreatSchools Rating

Fuquay-varina High School

  • Education Level: High
  • # of students: 2,117
  • # of teachers: 114
7
GreatSchools Rating
 

$243,000$297,000$270,000

PURCHASE PRICE

$1,125$1,375$1,250

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,250
EXPENSES Loan Payment -$938
Property Tax -$197
Property Insurance -$54
HOA -$10
Property Management Fees -$119
CASH FLOW
-$68

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.

$270,000

PROJECTED PRICE

$1,250

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.4%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$77,300

INVESTMENT

$77,300

Down Payment
$67,500
Rehab Estimate
$5,750
Closing Costs
$4,050

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$938

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $67,500
Loan Amount $202,500
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$11,530

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,250

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,278

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,2503$1,3504$1,500
$1,500
RENT COMPS ANALYSIS
  • 808 S Phillips Pointe Drive Fuquay Varina, NC 2
    • 3 beds 2 baths ∙ 1,384 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,384 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.90
    •  
  • 918 S Philwood Court Fuquay Varina, NC 1
    • 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 2004
    LEASED 02/20/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.93
    •  
  • 408 Hunters Ridge Fuquay Varina, NC 3
    • 3 beds 3 baths ∙ 1,423 Sqft ∙ Built 1992 3 beds 3 baths ∙ 1,423 Sqft ∙ Built 1992
    LEASED 07/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.95
    •  
  • 621 Hunters Ridge Drive Fuquay Varina, NC 4
    • 3 beds 2 baths ∙ 1,680 Sqft ∙ Built 2013 3 beds 2 baths ∙ 1,680 Sqft ∙ Built 2013
    LEASED 03/24/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.89
    •  
PROPERTY LISTING DETAILS
Nicolas Frade
1.984.789.1852
Better Homes & Gardens Real Estate Paracle
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2395431
Last Updated: 07/13/2021
BESbswy