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PROPERTY INFO
FACTS
- Single Family
- Built In 2008
- Price/Sqft : $123.04
- 3 Days on Market
- MLS # : 2363043
- Updated Date : 01/24/2021 at 03:58
CONSTRUCTION
- Beds : 4
- Floor Size : 2,235 sqft
- Baths : 2 full , 1 half
Listing Agent
Exp Realty
Listing Agent's Description
MULTIPLE OFFERS! DEADLINE FOR OFFERS IS 6PM SUNDAY 1/24! New Carpet! New Paint! Well laid out floor plan that boasts newer LVP flooring throughout the first floor. Off of the large kitchen is a generously sized dining room as well as breakfast area that opens up to a spacious living room! Upstairs welcomes with a large master with trey ceiling and nice sized master bath! Three other bedrooms with large closets and a hall bath. Enjoy afternoons in the backyard with the serene wooded area!
SEE MORE
- 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
- Major employers in Raleigh area: IBM, Cisco systems, Fidelity Investments, GlaxoSmithKline, RTI International
- One of Top 10 cities for Small Business Friendliness (Thumbtack, 2018)
PRICE & RENT TRENDS
Neighborhood: Northeast Durham
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Northeast Durham
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,590 |
| EXPENSES | Loan Payment | -$955 |
| Property Tax | -$238 | |
| Property Insurance | -$70 | |
| HOA | -$25 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$183
|
||
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.
$275,000
PROJECTED PRICE
$1,590
PROJECTED RENT
0.58%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.28% |
| Appreciation Year (1-5) | 6.0% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 8.55% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$78,625
LOAN DETAILS
$955
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $68,750 |
| Loan Amount | $206,250 |
9.17
YEARS SAVED
$34,457
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,590
LIST RENT -
$0.71
LIST RENT PER SQFT
-
$1,736
COMP ESTIMATED VALUE -
$0.78
COMP AVG. RENT PER SQFT
Comps Range
-
1005 Golden Crest Drive Durham, NC 2
- 4 beds 3 baths ∙ 2,235 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,235 Sqft ∙ Built 2008
- Rent
- Rent Per SQFT
- $1,590
- $0.71
-
1027 Sweet Gale Drive Durham, NC 1
- 3 beds 3 baths ∙ 1,981 Sqft ∙ Built 2011 3 beds 3 baths ∙ 1,981 Sqft ∙ Built 2011
LEASED 08/14/19- Rent
- Rent Per SQFT
- $1,525
- $0.77
-
5020 Miller Drive Durham, NC 3
- 4 beds 3 baths ∙ 2,365 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,365 Sqft ∙ Built 2007
LEASED 10/10/20- Rent
- Rent Per SQFT
- $1,750
- $0.74
-
1119 Old Evergreen Drive Durham, NC 4
- 5 beds 3 baths ∙ 2,250 Sqft ∙ Built 2019 5 beds 3 baths ∙ 2,250 Sqft ∙ Built 2019
LEASED 11/10/20- Rent
- Rent Per SQFT
- $1,850
- $0.82
PROPERTY LISTING DETAILS
1.919.749.1613
Exp Realty
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
MLS #: 2363043
Last Updated: 01/24/2021
