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PROPERTY INFO
FACTS
- Single Family
- Built In 1998
- Price/Sqft : $168.41
- 4 Days on Market
- MLS # : 2354481
- Updated Date : 11/21/2020 at 08:03
CONSTRUCTION
- Beds : 3
- Floor Size : 1,336 sqft
- Baths : 2 full , 1 half
Listing Agent
Linda Craft & Team, Realtors
Listing Agent's Description
Lovely well maintained home. Open floor plan offers fresh int paint, updated kitchen w/SS appliances, new granite counters w/breakfast bar, undermount sink & faucet. Living room features a gas log fireplace & built-in entertainment niche. Spacious master has walk-in closet & private updated bath w/new tile shower & flrs, new toilet, vanity & light fixtures. Relax on the oversized deck. Convenient to shopping, dining & 540 (Bedroom 3 WIC-turned into 1/2 bath, permits can not be verified)
SEE MORE
- 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
- 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)
PRICE & RENT TRENDS
Neighborhood: Emerald Pointe
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Emerald Pointe
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,240 |
| EXPENSES | Loan Payment | -$830 |
| Property Tax | -$164 | |
| Property Insurance | -$53 | |
| HOA | -$7 | |
| Property Management Fees | -$112 | |
|
CASH FLOW
$73
|
||
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.
$225,000
PROJECTED PRICE
$1,240
PROJECTED RENT
0.55%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.76% |
| Appreciation Year (1-5) | 3.9% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 7.47% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$65,375
LOAN DETAILS
$830
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $56,250 |
| Loan Amount | $168,750 |
6.42
YEARS SAVED
$20,187
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 -
$0.93
LIST RENT PER SQFT
-
$1,305
COMP ESTIMATED VALUE -
$0.98
COMP AVG. RENT PER SQFT
Comps Range
-
106 Spinel Lane Knightdale, NC 2
- 3 beds 3 baths ∙ 1,336 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,336 Sqft ∙ Built 1998
![property image]()
- Rent
- Rent Per SQFT
- $1,240
- $0.93
-
402 Kelley Meadows Road Knightdale, NC 1
- 3 beds 2 baths ∙ 1,285 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,285 Sqft ∙ Built 1991
![property image]()
LEASED 12/23/19- Rent
- Rent Per SQFT
- $1,200
- $0.93
-
208 Aqua Marine Lane Knightdale, NC 3
- 3 beds 2 baths ∙ 1,296 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,296 Sqft ∙ Built 1999
![property image]()
LEASED 07/02/20- Rent
- Rent Per SQFT
- $1,295
- $1.00
-
104 Gem Drive Knightdale, NC 4
- 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1999
![property image]()
LEASED 10/31/19- Rent
- Rent Per SQFT
- $1,400
- $1.00
PROPERTY LISTING DETAILS
1.919.235.0007
Linda Craft & Team, Realtors
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
MLS #: 2354481
Last Updated: 11/21/2020
