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941 Stinson Avenue Holly Springs, NC 27540

3 Beds 3 Baths 1,409 sqft Built 2001

$275,000

List Price

$1,410

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

October 31, 2020 RECENTLY ADDED
FACTS
  • Built In 2001
  • Price/Sqft : $195.17
  • 4 Days on Market
  • MLS # : 2351448
  • Updated Date : 10/31/2020 at 16:41
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,409 sqft
  • Baths : 2 full , 1 half
Listing Agent

Brokers United Realty

Listing Agent's Description

Chic Modern Home, updated features. Floor-ceiling Tile fireplace surround, laminate wood floors + Stairs. Updated kitchen + Half bath to 2 car garage w/finished custom tool shelving walls, new water heater. Custom doors + between-the-glass blinds open to award-worthy fenced backyard ready for entertainment & relaxation. Custom Yard Shed. Spacious Master BR + en suite, lots of light + 2 Walk-in closets. Laundry rm conviently in hall, 2nd Full Bathroom. BRs 2 & 3 located at rear of the 2nd floor. 2020 Roof.

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

Neighborhood: Chelsea Woods

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $116k400k

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

Neighborhood: Chelsea Woods

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2900100011001200130014001500160017001800Rent in $8621873

* 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
Holly Ridge Elementary School Primary Regular 803 50 6
Holly Ridge Middle School Middle Regular 1,222 69 4
Holly Springs High School High Regular 2,418 122 7

Holly Ridge Elementary School

  • Education Level: Primary
  • # of students: 803
  • # of teachers: 50
6
GreatSchools Rating

Holly Ridge Middle School

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

Holly Springs High School

  • Education Level: High
  • # of students: 2,418
  • # of teachers: 122
7
GreatSchools Rating
 

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

PURCHASE PRICE

$1,269$1,551$1,410

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,410
EXPENSES Loan Payment -$1,015
Property Tax -$201
Property Insurance -$55
HOA -$44
Property Management Fees -$127
CASH FLOW
-$31

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 16% of earned rent to cover both maintenance and periods of vacancy.

$275,000

PROJECTED PRICE

$1,410

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.33%
Appreciation Year (1-5) 5.3%
Maintenance Year (1-5) 8.00%
Vacancy 7.51%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,015

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $68,750
Loan Amount $206,250
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$15,318

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,410

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $1,405

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,3953$1,4104$1,4505$1,495
$1,495
RENT COMPS ANALYSIS
  • 941 Stinson Avenue Holly Springs, NC 3
    • 3 beds 3 baths ∙ 1,409 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,409 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,410
    • $1.00
    •  
  • 953 Stinson Avenue Holly Springs, NC 1
    • 3 beds 3 baths ∙ 1,386 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,386 Sqft ∙ Built 2001
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.97
    •  
  • 100 Steeple Road Holly Springs, NC 2
    • 3 beds 2 baths ∙ 1,379 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,379 Sqft ∙ Built 1993
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.01
    •  
  • 100 Crossfire Road Holly Springs, NC 4
    • 3 beds 2 baths ∙ 1,453 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,453 Sqft ∙ Built 1997
    LEASED 07/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.00
    •  
  • 513 E Maple Avenue Holly Springs, NC 5
    • 3 beds 3 baths ∙ 1,480 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,480 Sqft ∙ Built 2001
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.01
    •  
PROPERTY LISTING DETAILS
Carol Small
1.919.923.2637
Brokers United Realty
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2351448
Last Updated: 10/31/2020
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