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901 Wild Lilac Court Zebulon, NC 27597

4 Beds 3 Baths 2,546 sqft Built 2017

$229,700

List Price

$1,690

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

October 31, 2020 RECENTLY ADDED
FACTS
  • Built In 2017
  • Price/Sqft : $90.22
  • 4 Days on Market
  • MLS # : 2351464
  • Updated Date : 10/31/2020 at 17:44
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,546 sqft
  • Baths : 2 full , 1 half
Listing Agent

Hometowne Realty

Listing Agent's Description

The WINSTON PLAN. D.R. Horton's most sought after plans is COMING SOON to the market! You're not going to want to miss this OPEN FLOOR PLAN concept boasting LARGE KITCHEN ISLAND w LOTS OF CABINETS, GRANITE, UNDER CABINET LIGHTING, SS APPLIANCES & MUCH MORE! 4 BEDRMS. 2.5 BATH w SPACIOUS BONUS RM. LARGE CORNER LOT ON A CUL DE SAC. Zebulon's HOTTEST ADDRESS!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • #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

PRICE & RENT TRENDS

Zip Code: 27597

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $106k265k

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

Zip Code: 27597

ZipNIR 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 Regular 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
 

$206,730$252,670$229,700

PURCHASE PRICE

$1,521$1,859$1,690

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,690
EXPENSES Loan Payment -$847
Property Tax -$280
Property Insurance -$77
HOA -$57
Property Management Fees -$152
CASH FLOW
$277

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.

$229,700

PROJECTED PRICE

$1,690

PROJECTED RENT

0.74%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 4.6%
Maintenance Year (1-5) 8.00%
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$16k$18k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$66,621

INVESTMENT

$66,621

Down Payment
$57,425
Rehab Estimate
$5,750
Closing Costs
$3,446

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$847

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $57,425
Loan Amount $172,275
See What Happens When You Reinvest Cash Flow

10.25

YEARS SAVED

$40,244

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,690

    LIST RENT
  • $0.66

    LIST RENT PER SQFT
  • $1,629

    COMP ESTIMATED VALUE
  • $0.64

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6903$1,695
$1,695
RENT COMPS ANALYSIS
  • 901 Wild Lilac Court Zebulon, NC 2
    • 4 beds 3 baths ∙ 2,546 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,546 Sqft ∙ Built 2017
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $0.66
    •  
  • 1005 Milkweed Court Zebulon, NC 1
    • 4 beds 3 baths ∙ 2,495 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,495 Sqft ∙ Built 2018
    property image
    LEASED 12/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.64
    •  
  • 6105 Watsonia Drive Zebulon, NC 3
    • 4 beds 3 baths ∙ 2,635 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,635 Sqft ∙ Built 2019
    property image
    LEASED 04/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.64
    •  
PROPERTY LISTING DETAILS
Michelle Odom
1.919.235.2608
Hometowne Realty
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2351464
Last Updated: 10/31/2020
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