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99 Florence Drive Clayton, NC 27527

4 Beds 3 Baths 2,489 sqft Built 2011

$279,900

List Price

$1,770

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2011
  • Price/Sqft : $112.45
  • 3 Days on Market
  • MLS # : 2354605
  • Updated Date : 11/21/2020 at 11:33
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,489 sqft
  • Baths : 2 full , 1 half
Listing Agent

Hometowne Realty Garner

Listing Agent's Description

This immaculate home boasts a SPACIOUS owners suite, and 3 additional LARGE bedrooms, 2.5 baths, BRIGHT formal dining room, LARGE kitchen with pantry, GRANITE and STAINLESS appliances. Spacious SUNNY breakfast nook and Family Room with FIREPLACE. Step out onto your DECK and enjoy the nice private TREE VIEW behind you. BRAND NEW ROOF 11/2020!!! Home has been very well maintained and is move-in ready! Won't Last Long!

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
  • Major employers in Raleigh area: IBM, Cisco systems, Fidelity Investments, GlaxoSmithKline, RTI International
  • #7 Best Big City for Jobs 2018 (Forbes, 2018)
  • One of Top 10 cities for Small Business Friendliness (Thumbtack, 2018)

PRICE & RENT TRENDS

Neighborhood: The Meadows at Tuscany

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $107k265k

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

Neighborhood: The Meadows at Tuscany

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q290010001100120013001400150016001700Rent in $8231707

* 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
East Clayton Elementary School Primary Regular 563 39 5
Riverwood Middle School Middle Regular 1,149 64 7
Clayton High School High Regular 1,512 85 5

East Clayton Elementary School

  • Education Level: Primary
  • # of students: 563
  • # of teachers: 39
5
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
 

$251,910$307,890$279,900

PURCHASE PRICE

$1,593$1,947$1,770

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,770
EXPENSES Loan Payment -$1,033
Property Tax -$184
Property Insurance -$76
HOA -$60
Property Management Fees -$159
CASH FLOW
$259

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.

$279,900

PROJECTED PRICE

$1,770

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 4.8%
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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

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$79,924

INVESTMENT

$79,924

Down Payment
$69,975
Rehab Estimate
$5,750
Closing Costs
$4,199

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,033

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $69,975
Loan Amount $209,925
See What Happens When You Reinvest Cash Flow

9.42

YEARS SAVED

$43,735

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,770

    LIST RENT
  • $0.71

    LIST RENT PER SQFT
  • $1,767

    COMP ESTIMATED VALUE
  • $0.71

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6003$1,6254$1,6505$1,770
$1,770
RENT COMPS ANALYSIS
  • 99 Florence Drive Clayton, NC 5
    • 4 beds 3 baths ∙ 2,489 Sqft ∙ Built 2011 4 beds 3 baths ∙ 2,489 Sqft ∙ Built 2011
    • Rent
    • Rent Per SQFT
    •  
    • $1,770
    • $0.71
    •  
  • 383 W Copenhaver Drive Clayton, NC 1
    • 4 beds 3 baths ∙ 2,180 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,180 Sqft ∙ Built 2019
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.73
    •  
  • 220 Rothes Court Clayton, NC 2
    • 3 beds 2 baths ∙ 2,146 Sqft ∙ Built 2019 3 beds 2 baths ∙ 2,146 Sqft ∙ Built 2019
    LEASED 10/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.75
    •  
  • 73 Genoa Lane Clayton, NC 3
    • 5 beds 3 baths ∙ 2,482 Sqft ∙ Built 2012 5 beds 3 baths ∙ 2,482 Sqft ∙ Built 2012
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.65
    •  
  • 215 Naples Lane Clayton, NC 4
    • 4 beds 3 baths ∙ 2,320 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,320 Sqft ∙ Built 2017
    LEASED 03/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.71
    •  
PROPERTY LISTING DETAILS
Tracy Haas
1.919.987.4503
Hometowne Realty Garner
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2354605
Last Updated: 11/21/2020
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