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8129 Consella Way Willow Spring(s), NC 27592

3 Beds 3 Baths 1,687 sqft Built 2007

INVESTimate

$267,000

List Price

$1,510

$1,359 - $1,661

Rent Est.

$282,032  ( +5.63%)   1 YR EST. FORECAST

PROPERTY INFO

August 19, 2020 RECENTLY ADDED
FACTS
  • Built In 2007
  • Price/Sqft : $158.27
  • 8 Days on Market
  • MLS # : 2337943
  • Updated Date : 08/20/2020 at 21:41
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,687 sqft
  • Baths : 2 full , 1 half
Listing Agent

Opendoor Brokerage Llc

Listing Agent's Description

This Willow Spring two-story cul-de-sac home offers granite countertops and a two-car garage. This home is vacant and cleaned regularly.

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

Neighborhood: Austin Pointe

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280kPrice in $132k296k

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

Neighborhood: Austin Pointe

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q28009001000110012001300140015001600Rent in $7191625

* 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
Willow Springs Elementary School Primary Regular 1,017 61 8
Fuquay-varina Middle School Middle Regular 819 55 4
Fuquay-varina High School High Regular 2,117 114 7

Willow Springs Elementary School

  • Education Level: Primary
  • # of students: 1,017
  • # of teachers: 61
8
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
 

$240,300$293,700$267,000

PURCHASE PRICE

$1,359$1,661$1,510

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,510
EXPENSES Loan Payment -$985
Property Tax -$151
Property Insurance -$60
Property Management Fees -$136
CASH FLOW
$178

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.

$267,000

PROJECTED PRICE

$1,510

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 5.63%
Maintenance Year (1-5) 8.00%
Vacancy 7.49%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$76,505

INVESTMENT

$76,505

Down Payment
$66,750
Rehab Estimate
$5,750
Closing Costs
$4,005

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$985

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $66,750
Loan Amount $200,250
See What Happens When You Reinvest Cash Flow

8.42

YEARS SAVED

$35,680

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,510

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,569

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,510
$1,510
RENT COMPS ANALYSIS
  • 8129 Consella Way Willow Spring(s), 2
    • 3 beds 3 baths ∙ 1,687 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,687 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $1,510
    • $0.90
    •  
  • 2908 Tram Road Fuquay Varina, 1
    • 3 beds 2 baths ∙ 1,338 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,338 Sqft ∙ Built 1995
    LEASED 05/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.93
    •  
PROPERTY LISTING DETAILS
Verria Hairston
1.919.679.9883
Opendoor Brokerage Llc
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2337943
Last Updated: 08/20/2020
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