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1005 Golden Crest Drive Durham, NC 27704

4 Beds 3 Baths 2,235 sqft Built 2008

$275,000

List Price

$1,590

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
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

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)
  • #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

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260kPrice in $61k274k

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

Neighborhood: Northeast Durham

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2800900100011001200130014001500Rent in $7261518

* 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
Glenn Elementary School Primary Regular 644 46 1
Lucas Middle School Middle Regular 658 43 2
Northern High School High Regular 1,448 83 3

Glenn Elementary School

  • Education Level: Primary
  • # of students: 644
  • # of teachers: 46
1
GreatSchools Rating

Lucas Middle School

  • Education Level: Middle
  • # of students: 658
  • # of teachers: 43
2
GreatSchools Rating

Northern High School

  • Education Level: High
  • # of students: 1,448
  • # of teachers: 83
3
GreatSchools Rating
 

$247,500$302,500$275,000

PURCHASE PRICE

$1,431$1,749$1,590

RENT

DOWN PAYMENT
FINANCING

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

ASSUMPTIONS

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
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

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

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$78,625

INVESTMENT

$78,625

Down Payment
$68,750
Rehab Estimate
$5,750
Closing Costs
$4,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$955

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $68,750
Loan Amount $206,250
See What Happens When You Reinvest Cash Flow

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
$1,525
1$1,5252$1,5903$1,7504$1,850
$1,850
RENT COMPS ANALYSIS
  • 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
Steven Norris
1.919.749.1613
Exp Realty
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2363043
Last Updated: 01/24/2021
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