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

915 Willow Vista Road Garner, NC 27529

3 Beds 1 Baths 1,134 sqft Built 1951

$175,000

List Price

$1,080

$972 - $1.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
YES TENANTED
March 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1951
  • Price/Sqft : $154.32
  • 2 Days on Market
  • MLS # : 2370607
  • Updated Date : 03/06/2021 at 21:08
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,134 sqft
  • Baths : 1 full
Listing Agent

Trademark Residential

Listing Agent's Description

Investors portfolio package. O Willow Vista Road is being sold with this house and is included in the price of 915 Willow Vista Road. It is attached to the back right of the property and could be land locked. This property is being sold with 1225 Poplar Avenue, 908 Powell Drive, 800 Delbridge Street, 917 Wade Avenue, 111 Weston Road and 306 Penny Street for $1,060,000. All houses have been priced according to the amount of work needed. Rent is $600/month.

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

Zip Code: 27529

ZipNIR Market*CityMarket2010Year20002019140k150k160k170k180k190k200k210k220k230k240k250k260kPrice in $132k265k

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

Zip Code: 27529

ZipNIR Market*CityMarket2010Year2000 Q22019 Q2950100010501100115012001250130013501400145015001550Rent in $9461595

* 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
Middle Creek Elementary School Primary Regular 849 56 6
Holly Ridge Middle School Middle Regular 1,222 69 4
Garner High School High Magnet 2,650 145 3

Middle Creek Elementary School

  • Education Level: Primary
  • # of students: 849
  • # of teachers: 56
6
GreatSchools Rating

Holly Ridge Middle School

  • Education Level: Middle
  • # of students: 1,222
  • # of teachers: 69
4
GreatSchools Rating

Garner High School

  • Education Level: High
  • # of students: 2,650
  • # of teachers: 145
3
GreatSchools Rating
 

$157,500$192,500$175,000

PURCHASE PRICE

$972$1,188$1,080

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,080
EXPENSES Loan Payment -$608
Property Tax -$140
Property Insurance -$49
Property Management Fees -$119
CASH FLOW
$164

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.

$175,000

PROJECTED PRICE

$1,080

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 4.9%
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$100k$200k$300k$400k$500k$600k

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$52,125

INVESTMENT

$52,125

Down Payment
$43,750
Rehab Estimate
$5,750
Closing Costs
$2,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$608

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $43,750
Loan Amount $131,250
See What Happens When You Reinvest Cash Flow

10.42

YEARS SAVED

$26,368

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,080

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,094

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$995
1$9952$1,0803$1,295
$1,295
RENT COMPS ANALYSIS
  • 915 Willow Vista Road Garner, NC 2
    • 3 beds 1 baths ∙ 1,134 Sqft ∙ Built 1951 3 beds 1 baths ∙ 1,134 Sqft ∙ Built 1951
    • Rent
    • Rent Per SQFT
    •  
    • $1,080
    • $0.95
    •  
  • 500 Raleigh Pines Drive Raleigh, NC 1
    • 3 beds 2 baths ∙ 1,031 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,031 Sqft ∙ Built 1970
    LEASED 12/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $995
    • $0.97
    •  
  • 4814 Greenbrier Road Raleigh, NC 3
    • 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 1963
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.96
    •  
PROPERTY LISTING DETAILS
Bo Winn
1.919.614.4533
Trademark Residential
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2370607
Last Updated: 03/06/2021
BESbswy