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108 Hadley Lane Durham, NC 27713

4 Beds 2 Baths 1,696 sqft Built 1971

$275,000

List Price

$1,610

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1971
  • Price/Sqft : $162.15
  • 4 Days on Market
  • MLS # : 2371540
  • Updated Date : 03/12/2021 at 17:20
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,696 sqft
  • Baths : 2 full
Listing Agent

Inhabit Real Estate

Listing Agent's Description

Finally a house worth fighting for! This classic four bedroom ranch has a walled, two car carport, two spacious living rooms, two large storage rooms and tons of closet space. Storage cabinets in both bathrooms and pantry cabinets in the kitchen. 707sf of extra space we can't even include in the living area! Ideal kitchen layout with ample counters and access to a beautiful deck. Covered porch. 2019 HVAC. Fenced yard. Gas stove. Wood burning fireplace. Lovely view less than a block to the lake and park.

SEE MORE

MARKET HIGHLIGHTS

  • 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
  • #7 Best Big City for Jobs 2018 (Forbes, 2018)
  • Major employers in Raleigh area: IBM, Cisco systems, Fidelity Investments, GlaxoSmithKline, RTI International
  • One of Top 10 cities for Small Business Friendliness (Thumbtack, 2018)

PRICE & RENT TRENDS

Neighborhood: Parkwood

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $98k274k

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

Neighborhood: Parkwood

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q280085090095010001050110011501200125013001350140014501500Rent in $7971518

* 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
Parkwood Elementary School Primary Regular 585 38 5
Lowe's Grove Magnet Middle School Middle Regular 708 47 3
Hillside High School High Regular 1,318 91 4

Parkwood Elementary School

  • Education Level: Primary
  • # of students: 585
  • # of teachers: 38
5
GreatSchools Rating

Lowe's Grove Magnet Middle School

  • Education Level: Middle
  • # of students: 708
  • # of teachers: 47
3
GreatSchools Rating

Hillside High School

  • Education Level: High
  • # of students: 1,318
  • # of teachers: 91
4
GreatSchools Rating
 

$247,500$302,500$275,000

PURCHASE PRICE

$1,449$1,771$1,610

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,610
EXPENSES Loan Payment -$955
Property Tax -$244
Property Insurance -$60
HOA -$21
Property Management Fees -$119
CASH FLOW
$211

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.

$275,000

PROJECTED PRICE

$1,610

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.11%
Appreciation Year (1-5) 7.3%
Maintenance Year (1-5) 8.00%
Vacancy 8.54%
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$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,625

INVESTMENT

$78,625

Down Payment
$68,750
Rehab Estimate
$5,750
Closing Costs
$4,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$955

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $68,750
Loan Amount $206,250
See What Happens When You Reinvest Cash Flow

9.42

YEARS SAVED

$36,414

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,610

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,560

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,5953$1,6004$1,6005$1,610
$1,610
RENT COMPS ANALYSIS
  • 108 Hadley Lane Durham, NC 5
    • 4 beds 2 baths ∙ 1,696 Sqft ∙ Built 1971 4 beds 2 baths ∙ 1,696 Sqft ∙ Built 1971
    • Rent
    • Rent Per SQFT
    •  
    • $1,610
    • $0.95
    •  
  • 5115 Timmons Drive Durham, NC 1
    • 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 1975
    LEASED 10/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.93
    •  
  • 5902 Newhall Road Durham, NC 2
    • 3 beds 2 baths ∙ 1,656 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,656 Sqft ∙ Built 1972
    LEASED 11/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.96
    •  
  • 128 Wicklow Drive Durham, NC 3
    • 3 beds 3 baths ∙ 1,850 Sqft ∙ Built 1968 3 beds 3 baths ∙ 1,850 Sqft ∙ Built 1968
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.86
    •  
  • 5000 Timmons Drive Durham, NC 4
    • 3 beds 2 baths ∙ 1,728 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,728 Sqft ∙ Built 1975
    LEASED 11/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.93
    •  
PROPERTY LISTING DETAILS
Jenny Barrier
1.919.457.8747
Inhabit Real Estate
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2371540
Last Updated: 03/12/2021
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