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1012 Poplar Creek Trail Raleigh, NC 27610

3 Beds 3 Baths 1,907 sqft Built 1985

$289,900

List Price

$1,640

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $152.02
  • 2 Days on Market
  • MLS # : 2365472
  • Updated Date : 02/06/2021 at 20:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,907 sqft
  • Baths : 2 full , 1 half
Listing Agent

Parrish Realty Company Of Knig

Listing Agent's Description

Beautiful home in quiet neighborhood. 2-Car Det garage has finished room above, large deck, partially fenced backyard, pond on property, marble countertops in kitchen, new carpet throughout, new interior paint, many new light fixtures, new hardwoods in the living room, large storage area upstairs, dehumidifier, water softener and new radon system under house, new detached wired workshop 12x28, some new windows, new mstr ceramic shower & much more. A hard to find home in Wake County on large lot.

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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: Poplar Creek

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $107k284k

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

Neighborhood: Poplar Creek

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2900100011001200130014001500160017001800Rent in $8231849

* 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
Lake Myra Elementary School Primary Regular 631 46 2
Wendell Middle School Middle Regular 973 59 2
East Wake High School High Regular NA

Lake Myra Elementary School

  • Education Level: Primary
  • # of students: 631
  • # of teachers: 46
2
GreatSchools Rating

Wendell Middle School

  • Education Level: Middle
  • # of students: 973
  • # of teachers: 59
2
GreatSchools Rating

East Wake High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$260,910$318,890$289,900

PURCHASE PRICE

$1,476$1,804$1,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,640
EXPENSES Loan Payment -$1,007
Property Tax -$214
Property Insurance -$64
Property Management Fees -$119
CASH FLOW
$236

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.

$289,900

PROJECTED PRICE

$1,640

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 7.0%
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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,574

INVESTMENT

$82,574

Down Payment
$72,475
Rehab Estimate
$5,750
Closing Costs
$4,349

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,007

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $72,475
Loan Amount $217,425
See What Happens When You Reinvest Cash Flow

9.75

YEARS SAVED

$40,793

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,640

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,411

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,640
$1,640
RENT COMPS ANALYSIS
  • 1012 Poplar Creek Trail Raleigh, NC 2
    • 3 beds 3 baths ∙ 1,907 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,907 Sqft ∙ Built 1985
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,640
    • $0.86
    •  
  • 1233 Rutledge Landing Drive Knightdale, NC 1
    • 3 beds 3 baths ∙ 1,695 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,695 Sqft ∙ Built 2005
    property image
    LEASED 10/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.74
    •  
PROPERTY LISTING DETAILS
Sheila Robertson
1.919.272.4807
Parrish Realty Company Of Knig
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2365472
Last Updated: 02/06/2021
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