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101 Rock Hound Road Knightdale, NC 27545

3 Beds 2 Baths 1,300 sqft Built 1998

$199,900

List Price

$1,180

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 1998
  • Price/Sqft : $153.77
  • 5 Days on Market
  • MLS # : 2351228
  • Updated Date : 10/30/2020 at 12:34
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,300 sqft
  • Baths : 2 full
Listing Agent

Century 21 Triangle Group

Listing Agent's Description

Coming Soon-Adorable 3 bed/2 bath ranch with great curb appeal! Fenced yard with newly painted deck and pergola! Updated kitchen with high end granite countertops! Fresh paint throughout! Don't miss this opportunity to call this your new home. Won't last in this price point!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • #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

PRICE & RENT TRENDS

Neighborhood: Emerald Pointe

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $107k265k

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

Neighborhood: Emerald Pointe

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2900100011001200130014001500Rent in $8231595

* 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
Forestville Road Elementary School Primary Regular 730 53 3
East Wake Middle School Middle Regular 884 56 2
Knightdale High School High Regular 1,672 99 2

Forestville Road Elementary School

  • Education Level: Primary
  • # of students: 730
  • # of teachers: 53
3
GreatSchools Rating

East Wake Middle School

  • Education Level: Middle
  • # of students: 884
  • # of teachers: 56
2
GreatSchools Rating

Knightdale High School

  • Education Level: High
  • # of students: 1,672
  • # of teachers: 99
2
GreatSchools Rating
 

$179,910$219,890$199,900

PURCHASE PRICE

$1,062$1,298$1,180

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,180
EXPENSES Loan Payment -$738
Property Tax -$171
Property Insurance -$53
HOA -$7
Property Management Fees -$106
CASH FLOW
$106

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.

$199,900

PROJECTED PRICE

$1,180

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 3.9%
Maintenance Year (1-5) 8.00%
Vacancy 7.47%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$58,724

INVESTMENT

$58,724

Down Payment
$49,975
Rehab Estimate
$5,750
Closing Costs
$2,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$738

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $49,975
Loan Amount $149,925
See What Happens When You Reinvest Cash Flow

7.33

YEARS SAVED

$21,612

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,180

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,270

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,180
1$1,1802$1,2003$1,2954$1,400
$1,400
RENT COMPS ANALYSIS
  • 101 Rock Hound Road Knightdale, NC 1
    • 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $1,180
    • $0.91
    •  
  • 402 Kelley Meadows Road Knightdale, NC 2
    • 3 beds 2 baths ∙ 1,285 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,285 Sqft ∙ Built 1991
    LEASED 12/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.93
    •  
  • 208 Aqua Marine Lane Knightdale, NC 3
    • 3 beds 2 baths ∙ 1,296 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,296 Sqft ∙ Built 1999
    LEASED 07/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $1.00
    •  
  • 104 Gem Drive Knightdale, NC 4
    • 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1999
    LEASED 10/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.00
    •  
PROPERTY LISTING DETAILS
Lissette Leon
1.919.449.8099
Century 21 Triangle Group
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2351228
Last Updated: 10/30/2020
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