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105 Oxford Circle Knightdale, NC 27545

3 Beds 2 Baths 1,354 sqft Built 1986

$222,500

List Price

$1,240

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

December 02, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $164.33
  • 6 Days on Market
  • MLS # : 2355843
  • Updated Date : 12/02/2020 at 01:28
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,354 sqft
  • Baths : 2 full
Listing Agent

Grow Local Realty Llc

Listing Agent's Description

*COMMING SOON* THIS ONE WILL GO FAST* First floor owners suite, extra large 2nd and 3rd bedrooms with spacious closets. Updates include roof (2 years old), air conditioner & heat pump (3 years old), hardwood floors refinished last year, water heater replaced in 2020. Amazing features include masonry woodburning fireplace in family room, screened porch, landscaped wooded cul-de-sac lot, firepit. NO HOA! Conveniently located to the heart of Knightdale with easy access to major highways & restaurants.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • #7 Best Big City for Jobs 2018 (Forbes, 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)

PRICE & RENT TRENDS

Neighborhood: Carrington Woods

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $107k265k

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

Neighborhood: Carrington Woods

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
Knightdale Elementary School Primary Regular 750 54 NA
East Wake Middle School Middle Regular 884 56 2
Knightdale High School High Regular 1,672 99 2

Knightdale Elementary School

  • Education Level: Primary
  • # of students: 750
  • # of teachers: 54
NA
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
 

$200,250$244,750$222,500

PURCHASE PRICE

$1,116$1,364$1,240

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,240
EXPENSES Loan Payment -$821
Property Tax -$165
Property Insurance -$54
Property Management Fees -$119
CASH FLOW
$82

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.

$222,500

PROJECTED PRICE

$1,240

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 6.1%
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$700k$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$64,713

INVESTMENT

$64,713

Down Payment
$55,625
Rehab Estimate
$5,750
Closing Costs
$3,338

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$821

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $55,625
Loan Amount $166,875
See What Happens When You Reinvest Cash Flow

7.67

YEARS SAVED

$25,525

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,240

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,259

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,200
1$1,2002$1,2003$1,2404$1,3505$1,400
$1,400
RENT COMPS ANALYSIS
  • 105 Oxford Circle Knightdale, NC 3
    • 3 beds 2 baths ∙ 1,354 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,354 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $1,240
    • $0.92
    •  
  • 103 Caribbean Court Knightdale, NC 1
    • 3 beds 3 baths ∙ 1,300 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,300 Sqft ∙ Built 2005
    LEASED 06/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.92
    •  
  • 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
    •  
  • 5112 Cottage Bluff Lane Knightdale, NC 4
    • 3 beds 3 baths ∙ 1,500 Sqft ∙ Built 1994 3 beds 3 baths ∙ 1,500 Sqft ∙ Built 1994
    LEASED 06/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.90
    •  
  • 1102 Mango Crest Drive Knightdale, NC 5
    • 3 beds 3 baths ∙ 1,450 Sqft ∙ Built 1996 3 beds 3 baths ∙ 1,450 Sqft ∙ Built 1996
    LEASED 01/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.97
    •  
PROPERTY LISTING DETAILS
Bonnie Ferrari
1.919.656.8825
Grow Local Realty Llc
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2355843
Last Updated: 12/02/2020
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