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84 W Falcon Drive Clayton, NC 27520

3 Beds 3 Baths 1,557 sqft Built 2019

$264,900

List Price

$1,550

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

Built 2019 NEW CONSTRUCTION
November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 2019
  • Price/Sqft : $170.13
  • 5 Days on Market
  • MLS # : 2352335
  • Updated Date : 11/08/2020 at 01:32
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,557 sqft
  • Baths : 2 full , 1 half
Listing Agent

Howard Perry And Walston Realtor

Listing Agent's Description

Beautiful home located in Bristol, convenient to all things CLAYTON! Only a year old! Enjoy the relaxing front porch, perfect for rocking. Large, fenced backyard w/great patio! The home offers natural gas cooking, fireplace & water heater. The kitchen boasts granite counter tops, tile back splash & upgraded cabinets. Dual sinks & a walk in shower in the master bath. 3 bedrooms, a loft that can be used as a 4th bedroom & 2.5 bathrooms. Smart Home Technology! Pool community. Ask about closing costs!

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: 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
 

$238,410$291,390$264,900

PURCHASE PRICE

$1,395$1,705$1,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,550
EXPENSES Loan Payment -$977
Property Tax -$272
Property Insurance -$58
HOA -$40
Property Management Fees -$140
CASH FLOW
$63

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.

$264,900

PROJECTED PRICE

$1,550

PROJECTED RENT

0.59%

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

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$72,199

INVESTMENT

$72,199

Down Payment
$66,225
Rehab Estimate
$2,000
Closing Costs
$3,974

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$977

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $66,225
Loan Amount $198,675
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$19,890

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,550

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $1,448

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,150
1$1,1502$1,3003$1,4504$1,5505$1,599
$1,599
RENT COMPS ANALYSIS
  • 84 W Falcon Drive Clayton, NC 4
    • 3 beds 3 baths ∙ 1,557 Sqft ∙ Built 2019 3 beds 3 baths ∙ 1,557 Sqft ∙ Built 2019
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.00
    •  
  • 1032 Cove Circle Clayton, NC 1
    • 3 beds 2 baths ∙ 1,228 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,228 Sqft ∙ Built 2001
    LEASED 01/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $0.94
    •  
  • 371 Kerriann Lane Clayton, NC 2
    • 3 beds 2 baths ∙ 1,413 Sqft ∙ Built 2012 3 beds 2 baths ∙ 1,413 Sqft ∙ Built 2012
    LEASED 06/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.92
    •  
  • 43 W Falcon Court Clayton, NC 3
    • 4 beds 3 baths ∙ 1,556 Sqft ∙ Built 2019 4 beds 3 baths ∙ 1,556 Sqft ∙ Built 2019
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.93
    •  
  • 107 Balsam Fir Place Clayton, NC 5
    • 4 beds 3 baths ∙ 1,712 Sqft ∙ Built 2018 4 beds 3 baths ∙ 1,712 Sqft ∙ Built 2018
    LEASED 06/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,599
    • $0.93
    •  
PROPERTY LISTING DETAILS
Christy Mangum
1.919.744.5184
Howard Perry And Walston Realtor
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2352335
Last Updated: 11/08/2020
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