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105. Satterwhite Drive Knightdale, NC 27545

3 Beds 2 Baths 1,566 sqft Built 1960

$249,999

List Price

$1,430

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1960
  • Price/Sqft : $159.64
  • 3 Days on Market
  • MLS # : 2364119
  • Updated Date : 01/30/2021 at 18:43
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,566 sqft
  • Baths : 2 full
Listing Agent

The Carolina Agency Llc

Listing Agent's Description

This renovated ranch in the Heart of Knightdale won't be on the market long! Interior features include new painted custom kitchen cabinets, light grey granite countertops and subway tile backsplash. Master Bath has new tile and frameless shower glass. The oak hardwood floors have been refinished and there is fresh paint and new light fixtures throughout. Extras include a large sunroom, dedicated laundry room and attached storage shed. New landscaping adds curb appeal...so much to see!

SEE MORE

MARKET HIGHLIGHTS

  • #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)
  • 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: Green Pines

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $115k265k

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

Neighborhood: Green Pines

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2900950100010501100115012001250130013501400145015001550Rent in $8901595

* 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
Lockhart Elementary School Primary Regular 683 49 4
East Wake Middle School Middle Regular 884 56 2
Knightdale High School High Regular 1,672 99 2

Lockhart Elementary School

  • Education Level: Primary
  • # of students: 683
  • # of teachers: 49
4
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
 

$224,999$274,999$249,999

PURCHASE PRICE

$1,287$1,573$1,430

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,430
EXPENSES Loan Payment -$868
Property Tax -$129
Property Insurance -$58
Property Management Fees -$119
CASH FLOW
$256

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.

$249,999

PROJECTED PRICE

$1,430

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 6.1%
Maintenance Year (1-5) 8.00%
Vacancy 7.49%
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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$72,000

INVESTMENT

$72,000

Down Payment
$62,500
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% 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 $62,500
Loan Amount $187,499
See What Happens When You Reinvest Cash Flow

11.17

YEARS SAVED

$41,782

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,430

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,681

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$1,425
1$1,4252$1,4303$1,5004$1,525
$1,525
RENT COMPS ANALYSIS
  • 105. Satterwhite Drive Knightdale, NC 2
    • 3 beds 2 baths ∙ 1,566 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,566 Sqft ∙ Built 1960
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,430
    • $0.91
    •  
  • 605 Colchester Drive Knightdale, NC 1
    • 3 beds 2 baths ∙ 1,445 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,445 Sqft ∙ Built 1974
    property image
    LEASED 10/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $0.99
    •  
  • 214 Lynnwood Estates Drive Knightdale, NC 3
    • 3 beds 2 baths ∙ 1,315 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,315 Sqft ∙ Built 1971
    property image
    LEASED 10/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.14
    •  
  • 303 Colchester Drive Knightdale, NC 4
    • 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1972
    property image
    LEASED 11/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $1.09
    •  
PROPERTY LISTING DETAILS
Austin Warmus
1.919.996.9498
The Carolina Agency Llc
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2364119
Last Updated: 01/30/2021
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