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105 Satterwhite Drive Knightdale, NC 27545

3 Beds 2 Baths 1,500 sqft Built 1960

$249,999

List Price

$1,380

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

November 26, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1960
  • Price/Sqft : $166.67
  • 4 Days on Market
  • MLS # : 2355383
  • Updated Date : 11/26/2020 at 19:19
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,500 sqft
  • Baths : 2 full
Listing Agent

The Carolina Agency Llc

Listing Agent's Description

COMING SOON - For sale is a one of a kind ranch in the Heart of Knightdale. Unlimited interior features include fully custom kitchen cabinets with brand new granite countertops, master bath with a redesigned shower, refinished hardwood floors, and fresh paint throughout entire house. Landscaping has been fully redesigned with new shrubbery and a river rock walkway. This house has every detail you would find in a parade winning home. Come see as this home will not last long. Showings expected on Dec 11

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: 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

$1,242$1,518$1,380

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,380
EXPENSES Loan Payment -$922
Property Tax -$129
Property Insurance -$56
Property Management Fees -$124
CASH FLOW
$148

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

$1,380

PROJECTED RENT

0.55%

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$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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 40% down payment or higher enables the proceeds from the asset to cover all costs.

$922

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,500
Loan Amount $187,499
See What Happens When You Reinvest Cash Flow

8.08

YEARS SAVED

$31,440

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,380

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,610

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$1,380
1$1,3802$1,4253$1,5004$1,525
$1,525
RENT COMPS ANALYSIS
  • 105 Satterwhite Drive Knightdale, NC 1
    • 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1960
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,380
    • $0.92
    •  
  • 605 Colchester Drive Knightdale, NC 2
    • 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 10/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $1.09
    •  
PROPERTY LISTING DETAILS
Austin Warmus
1.919.646.4716
The Carolina Agency Llc
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2355383
Last Updated: 11/26/2020
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