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338 Spearhead Place 
Clayton, NC
27520
3 Beds 3 Baths 2,313 sqft
Built 2002
INVESTimate
$259,900
List Price
$74,624
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PROPERTY INFO
FACTS
- Built In 2002
- Price/Sqft : $112.36
- 6 Days on Market
- MLS # : 2338527
- Updated Date : 08/26/2020 at 00:57
CONSTRUCTION
- Beds : 3
- Floor Size : 2,313 sqft
- Baths : 2 full , 1 half
Listing Agent
Keller Williams Realty Platinu
Listing Agent's Description
Country Living! This Awesome Home has over 1/2 acre FENCED lot! 3BR + Bonus 2.5 BA. Country Front Porch, SS appliances, granite tops, island! Formal dining w/hardwood floors! Large Master with Garden Tub, Sep Shower, Dual Vanities, Xtra Large Walk in closet! Spacious level backyard w/enlarged deck & Covered Deck. Trees and Open Yard make the right Combination of Landscape. Large family room has great views of back Yard! ! HUGE bonus rm! Oversized garage w/storage! NO HOA Check out the Virtual Tour!
SEE MORE
- 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)
- 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: Matthews Farm
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Matthews Farm
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,530 |
| EXPENSES | Loan Payment | -$959 |
| Property Tax | -$174 | |
| Property Insurance | -$72 | |
| Property Management Fees | -$138 | |
|
CASH FLOW
$187
|
||
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.
$259,900
PROJECTED PRICE
$1,530
PROJECTED RENT
0.59%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.76% |
| Appreciation Year (1-5) | 5.38% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 7.47% |
| Length of Stay Years | 2 |
TOTAL CASH OUT OF POCKET
INVESTMENT
$74,624
LOAN DETAILS
$959
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $64,975 |
| Loan Amount | $194,925 |
8.5
YEARS SAVED
$35,286
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,530
LIST RENT -
$0.66
LIST RENT PER SQFT
-
$1,480
COMP ESTIMATED VALUE -
$0.64
COMP AVG. RENT PER SQFT
Comps Range
-
338 Spearhead Place Clayton, 1
- 3 beds 3 baths ∙ 2,313 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,313 Sqft ∙ Built 2002
- Rent
- Rent Per SQFT
- $1,530
- $0.66
-
381 Carolina Oaks Avenue Smithfield, 2
- 3 beds 3 baths ∙ 2,481 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,481 Sqft ∙ Built 2006
LEASED 05/31/19- Rent
- Rent Per SQFT
- $1,600
- $0.64
PROPERTY LISTING DETAILS
1.919.414.9966
Keller Williams Realty Platinu
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
MLS #: 2338527
Last Updated: 08/26/2020
