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$579,300

For Sale - Active
117 Linwood Ln, Clayton, NC 27527
3 Beds
2 Baths
2,936 Square Feet
1.03 Acres Lot
Built in 1997
For Sale - Active
Units n/a
Checked: 21 hours ago
Updated: Jun 14, 2025 at 03:46AM

Investment Summary


Monthly Cash Flow
-$1,222
Cap Rate
3.1%
Cash-on-Cash Return
-11.0%
Debt Coverage Ratio
0.55
Internal Rate of Return (5 years)
-6.7%

Property Description


1.03 Acres Lot
Built in 1997
For Sale - Active
Units n/a

MOTIVATED SELLER!!! In addition to the Better Price, the Seller is also offering $6,000 in closing costs when using Preferred Attorney. Step inside to discover gleaming refinished hardwood floors and an abundance of natural light streaming through numerous windows and skylights. The office, family room, and Florida room all offer breathtaking panoramic views of the pond and the 8th hole of the golf course—sunrises here are truly something to behold! The Florida room is fully climate-controlled and features a wine fridge, sink, tons of storage, and opens onto a brand-new deck—perfect for entertaining. This home has it all: brand-new carpeting, fresh interior paint throughout, and a beautifully updated kitchen complete with sleek granite countertops, modern lighting, and stainless steel appliances, including a refrigerator. Enjoy the spacious living room with its cathedral ceiling and cozy fireplace. A large bonus room with built-in wall unit provides endless possibilities. The front and backyards are professionally landscaped, and the home sits on just over an acre of land—offering privacy, beauty, and space to enjoy.

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Location


Property Details


Parking

  • Description: Garage
  • Details: Garage, Attached
  • Garage Spaces: 2
  • Spaces Total: 2

Bedroom Information

  • # of Bedrooms: 3

Bathroom Information

  • # of Baths (Full): 2
  • # of Baths (Total): 2.0

Interior Features

  • # of Rooms: 9
  • # of Stories: 1
  • Attic: Yes
  • Fireplace: Yes

Exterior Features

  • Exterior Walls Materials: Other
  • Foundation: Block, Brick/Mortar
  • Roof Type: Gable or Hip
  • Roof Material: Shingle

HOA

  • Has HOA: Yes
  • HOA Fee: $155/annually

Land Information

  • Land Use: Residential
  • Land Use Subtype: Single Family Residential

Lot Information

  • Parcel ID: 16I03014E
  • Lot Size: 44866 sqft

Property Information

  • Property Type: Single Family Residence
  • Style: Transitional
  • Year Built: 1997

Tax Information

  • Annual Tax: $2,311

Utilities

  • Water & Sewer: Public
  • Heating: Electric, Heat Pump
  • Cooling: Ceiling Fan(s), Heat Pump

Location

  • County: Johnston

Listing Details


Listed by:
Carol Fifield
RE/MAX SOUTHLAND REALTY II
(919) 625-1189

Source:
Triangle MLS (Doorify MLS)
MLS#: 10086901
Triangle MLS (Doorify MLS)

Investment Summary


Monthly Cash Flow
-$1,222
Cap Rate
3.1%
Cash-on-Cash Return
-11.0%
Debt Coverage Ratio
0.55
Internal Rate of Return (5 years)
-6.7%

Purchase Details

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Purchase price:
$579,300
Amount financed:
-$463,440
Down payment:
$115,860
Closing costs:
$17,379
Rehab costs:
$0
Initial cash invested:
$133,239
Square feet:
2,936
Cost per square foot:
$197
Monthly rent per square foot:
$0.85

Financing Details

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Loan amount:
$463,440
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
5.875%
Principal & interest:
$2,741
Property tax:
$193
Insurance:
$175
Private mortgage insurance (PMI):
$0
Monthly payment:
$3,109

Operating Income

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% Rent Monthly Yearly
Gross rent:
$2,500 $30,000
Vacancy loss: (6%)
6% -$150 -$1,800
Operating income:
$2,350 $28,200

Operating Expenses


% Rent Monthly Yearly
Property taxes: (8%)
8%-$193-$2,312
Insurance: (7%)
7%-$175-$2,100
Property management: (8%)
8%-$200-$2,400
Repairs & maintenance: (5%)
5%-$125-$1,500
Capital expenditures: (5%)
5%-$125-$1,500
HOA fees: (1%)
1%-$13-$156
Total operating expenses: (33%)
33%-$831-$9,968

Cash Flow


Monthly Yearly
Net operating income:
$1,519 $18,228
Mortgage payments:
-$2,741 -$32,892
Cash flow:
$1,222 $14,664