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1 Rabbits Glen Terrace Durham, NC 27713

3 Beds 2 Baths 1,288 sqft Built 1985

$279,000

List Price

$1,420

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 03, 2020 RECENTLY ADDED
FACTS
  • Built In 1985
  • Price/Sqft : $216.61
  • 6 Days on Market
  • MLS # : 2351813
  • Updated Date : 11/07/2020 at 01:47
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,288 sqft
  • Baths : 2 full
Listing Agent

Classic Carolina Realty Group,

Listing Agent's Description

The perfect, unique, pristine bungalow style RANCH home in the perfect neighborhood, WOODCROFT! With beautiful site finished HARDWOOD FLOORS THROUGHOUT (except baths), moldings, wood burning brick fireplace, even a large updated kitchen! The split bedroom floor plan offers privacy for all, with large rooms and plenty of light. This home has been well maintained and is move in ready! Close to Southpoint, shopping, restaurants, and neighborhood amenities. Don't miss this one.

SEE MORE

MARKET HIGHLIGHTS

  • #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)
  • 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: Woodcroft

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $106k303k

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

Neighborhood: Woodcroft

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q290010001100120013001400150016001700Rent in $8591769

* 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
Southwest Elementary School Primary Regular 666 44 4
Sherwood Githens Middle School Middle Regular 1,011 62 5
Charles E. Jordan High School High Regular 1,848 107 4

Southwest Elementary School

  • Education Level: Primary
  • # of students: 666
  • # of teachers: 44
4
GreatSchools Rating

Sherwood Githens Middle School

  • Education Level: Middle
  • # of students: 1,011
  • # of teachers: 62
5
GreatSchools Rating

Charles E. Jordan High School

  • Education Level: High
  • # of students: 1,848
  • # of teachers: 107
4
GreatSchools Rating
 

$251,100$306,900$279,000

PURCHASE PRICE

$1,278$1,562$1,420

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,420
EXPENSES Loan Payment -$1,029
Property Tax -$242
Property Insurance -$52
HOA -$20
Property Management Fees -$128
CASH FLOW
-$50

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$279,000

PROJECTED PRICE

$1,420

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.42%
Appreciation Year (1-5) 5.7%
Maintenance Year (1-5) 8.00%
Vacancy 8.51%
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-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

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$79,685

INVESTMENT

$79,685

Down Payment
$69,750
Rehab Estimate
$5,750
Closing Costs
$4,185

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,029

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $69,750
Loan Amount $209,250
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$8,789

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,420

    LIST RENT
  • $1.1

    LIST RENT PER SQFT
  • $1,285

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,4203$1,4504$1,4955$1,500
$1,500
RENT COMPS ANALYSIS
  • 1 Rabbits Glen Terrace Durham, NC 2
    • 3 beds 2 baths ∙ 1,288 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,288 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $1,420
    • $1.10
    •  
  • 4715 Rollingwood Drive Durham, NC 1
    • 3 beds 2 baths ∙ 1,446 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,446 Sqft ∙ Built 1986
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.96
    •  
  • 5 Leeward Court Durham, NC 3
    • 3 beds 2 baths ∙ 1,425 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,425 Sqft ∙ Built 1987
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.02
    •  
  • 4518 Dolwick Drive Durham, NC 4
    • 4 beds 2 baths ∙ 1,492 Sqft ∙ Built 1999 4 beds 2 baths ∙ 1,492 Sqft ∙ Built 1999
    LEASED 09/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.00
    •  
  • 4503 Nightfall Court Durham, NC 5
    • 4 beds 2 baths ∙ 1,492 Sqft ∙ Built 1999 4 beds 2 baths ∙ 1,492 Sqft ∙ Built 1999
    LEASED 08/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.01
    •  
PROPERTY LISTING DETAILS
Dave Brion
1.919.525.5538
Classic Carolina Realty Group,
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2351813
Last Updated: 11/07/2020
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