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104 Glaive Drive Durham, NC 27703

3 Beds 2 Baths 1,895 sqft Built 1985

$249,900

List Price

$1,680

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $131.87
  • 7 Days on Market
  • MLS # : 2361038
  • Updated Date : 01/13/2021 at 21:45
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,895 sqft
  • Baths : 2 full
Listing Agent

Exp Realty

Listing Agent's Description

*Coming Soon* Updated Cape Cod on almost half an acre! First floor Master. Wood burning fireplace.

SEE MORE

MARKET HIGHLIGHTS

  • Major employers in Raleigh area: IBM, Cisco systems, Fidelity Investments, GlaxoSmithKline, RTI International
  • #7 Best Big City for Jobs 2018 (Forbes, 2018)
  • 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

Zip Code: 27703

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $97k274k

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

Zip Code: 27703

ZipNIR Market*CityMarket2010Year2000 Q22019 Q290095010001050110011501200125013001350140014501500Rent in $8591518

* 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
Oak Grove Elementary School Primary Regular 625 41 3
Neal Magnet Middle School Middle Regular 857 60 1
Southern School Of Energy And Sustainability High Regular 1,292 90 2

Oak Grove Elementary School

  • Education Level: Primary
  • # of students: 625
  • # of teachers: 41
3
GreatSchools Rating

Neal Magnet Middle School

  • Education Level: Middle
  • # of students: 857
  • # of teachers: 60
1
GreatSchools Rating

Southern School Of Energy And Sustainability

  • Education Level: High
  • # of students: 1,292
  • # of teachers: 90
2
GreatSchools Rating
 

$224,910$274,890$249,900

PURCHASE PRICE

$1,512$1,848$1,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,680
EXPENSES Loan Payment -$868
Property Tax -$174
Property Insurance -$64
Property Management Fees -$119
CASH FLOW
$455

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.

$249,900

PROJECTED PRICE

$1,680

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.11%
Appreciation Year (1-5) 4.8%
Maintenance Year (1-5) 8.00%
Vacancy 8.54%
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$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$71,974

INVESTMENT

$71,974

Down Payment
$62,475
Rehab Estimate
$5,750
Closing Costs
$3,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$868

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $62,475
Loan Amount $187,425
See What Happens When You Reinvest Cash Flow

14

YEARS SAVED

$57,067

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,680

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,712

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,6503$1,6504$1,680
$1,680
RENT COMPS ANALYSIS
  • 104 Glaive Drive Durham, NC 4
    • 3 beds 2 baths ∙ 1,895 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,895 Sqft ∙ Built 1985
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $0.89
    •  
  • 3 S Indian Creek Place Durham, NC 1
    • 3 beds 3 baths ∙ 1,747 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,747 Sqft ∙ Built 1999
    property image
    LEASED 12/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.89
    •  
  • 806 Pebblestone Drive Durham, NC 2
    • 3 beds 3 baths ∙ 1,748 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,748 Sqft ∙ Built 2003
    property image
    LEASED 05/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.94
    •  
  • 704 Bellmeade Bay Drive Durham, NC 3
    • 3 beds 3 baths ∙ 1,874 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,874 Sqft ∙ Built 1998
    property image
    LEASED 07/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.88
    •  
PROPERTY LISTING DETAILS
Marisol Alvarez
1.919.805.2378
Exp Realty
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2361038
Last Updated: 01/13/2021
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