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94 Balsam Fir Place Clayton, NC 27520

3 Beds 3 Baths 1,857 sqft Built 2017

$275,000

List Price

$1,490

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $148.09
  • 3 Days on Market
  • MLS # : 2364107
  • Updated Date : 01/30/2021 at 16:18
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,857 sqft
  • Baths : 2 full , 1 half
Listing Agent

Coldwell Banker Advantage

Listing Agent's Description

Great home in a great location! Just like new home in Bristol! Don't miss out on this three bedroom home with a loft. Open floor plan downstairs features granite counter tops with tile back splash in kitchen. Eat in kitchen is the perfect spot to fit in family meals. Fireplace in living room adds a warming touch. Master bedroom has a walk in closet and dual vanities in bath. Loft can be kept as is or can be used as an office. Fenced in yard is perfect for family pet! Close to all of Claytons amenities!

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MARKET HIGHLIGHTS

  • #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
  • 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: 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
 

$247,500$302,500$275,000

PURCHASE PRICE

$1,341$1,639$1,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,490
EXPENSES Loan Payment -$955
Property Tax -$282
Property Insurance -$63
HOA -$40
Property Management Fees -$119
CASH FLOW
$30

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.

$275,000

PROJECTED PRICE

$1,490

PROJECTED RENT

0.54%

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) 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$900k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$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$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,625

INVESTMENT

$78,625

Down Payment
$68,750
Rehab Estimate
$5,750
Closing Costs
$4,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$955

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $68,750
Loan Amount $206,250
See What Happens When You Reinvest Cash Flow

5.83

YEARS SAVED

$18,144

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,490

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $1,490

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,490
1$1,4902$1,5003$1,5004$1,5005$1,550
$1,550
RENT COMPS ANALYSIS
  • 94 Balsam Fir Place Clayton, NC 1
    • 3 beds 3 baths ∙ 1,857 Sqft ∙ Built 2017 3 beds 3 baths ∙ 1,857 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $1,490
    • $0.80
    •  
  • 213 Lynn Drive Clayton, NC 2
    • 3 beds 3 baths ∙ 1,807 Sqft ∙ Built 2018 3 beds 3 baths ∙ 1,807 Sqft ∙ Built 2018
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.83
    •  
  • 300 Lynn Drive Clayton, NC 3
    • 3 beds 3 baths ∙ 1,830 Sqft ∙ Built 2018 3 beds 3 baths ∙ 1,830 Sqft ∙ Built 2018
    LEASED 05/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.82
    •  
  • 171 Averasboro Drive Clayton, NC 4
    • 3 beds 3 baths ∙ 1,947 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,947 Sqft ∙ Built 2007
    LEASED 01/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.77
    •  
  • 36 W Falcon Court Clayton, NC 5
    • 4 beds 3 baths ∙ 1,950 Sqft ∙ Built 2019 4 beds 3 baths ∙ 1,950 Sqft ∙ Built 2019
    LEASED 09/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.79
    •  
PROPERTY LISTING DETAILS
Christa Samples
1.919.810.4961
Coldwell Banker Advantage
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2364107
Last Updated: 01/30/2021
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