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PROPERTY INFO
FACTS
- Single Family
- Built In 1956
- Price/Sqft : $153.00
- 3 Days on Market
- MLS # : 2355423
- Updated Date : 11/27/2020 at 18:13
CONSTRUCTION
- Beds : 3
- Floor Size : 1,568 sqft
- Baths : 2 full
Listing Agent
Keller Williams Elite Realty
Listing Agent's Description
Location, Upgrades and Yard meet nicely in this cute Ranch! Watch your loved ones play in the open living space, back or front yard with comfort. Have a hobby or has 2020 made you want to take one on? There is a shop for that. Roof-2018, WH-2018, Permitted Shop-2018, Quartz countertops, Subway Tile, Farmhouse SS sink and Handmade Island- all 2020, HVAC 2015, Blower Motor-2020 and fresh paint inside and out! Convenient to shopping, 40, 540, 70, 147, RTP and eateries galore! Come see for yourself!
SEE MORE
- 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: Triangle Development
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Triangle Development
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,460 |
| EXPENSES | Loan Payment | -$885 |
| Property Tax | -$227 | |
| Property Insurance | -$57 | |
| Property Management Fees | -$131 | |
|
CASH FLOW
$160
|
||
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.
$239,900
PROJECTED PRICE
$1,460
PROJECTED RENT
0.61%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$69,324
LOAN DETAILS
$885
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $59,975 |
| Loan Amount | $179,925 |
8
YEARS SAVED
$29,892
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,460
LIST RENT -
$0.93
LIST RENT PER SQFT
-
$1,286
COMP ESTIMATED VALUE -
$0.82
COMP AVG. RENT PER SQFT
Comps Range
-
107 Lang Street Durham, NC 2
- 3 beds 2 baths ∙ 1,568 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,568 Sqft ∙ Built 1956
- Rent
- Rent Per SQFT
- $1,460
- $0.93
-
2610 Bonnie Brae Road Durham, NC 1
- 3 beds 2 baths ∙ 1,710 Sqft ∙ Built 1969 3 beds 2 baths ∙ 1,710 Sqft ∙ Built 1969
LEASED 02/20/20- Rent
- Rent Per SQFT
- $1,400
- $0.82
PROPERTY LISTING DETAILS
1.843.901.9461
Keller Williams Elite Realty
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
MLS #: 2355423
Last Updated: 11/27/2020
