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10836 Fanny Brown Road Raleigh, NC 27603

3 Beds 2 Baths 1,158 sqft Built 1989

$225,000

List Price

$1,100

$990 - $1.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $194.30
  • 3 Days on Market
  • MLS # : 2371893
  • Updated Date : 03/13/2021 at 01:34
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,158 sqft
  • Baths : 2 full
Listing Agent

Better Homes & Gardens Real Estate Paracle

Listing Agent's Description

A rare find! 3B, 2 full bath updated home on .75 acres with updated kitchen with granite and single bowl sink, brand new baths, new windows (2014), new deck, new carpet, paint, hardware, fixtures. Roof in 2011. Vaulted ceilings in family room & owner's suite. Fully permitted and wired workshop with separate panel & meter, cable, & insulated roof. Perfect set up to work from home! Also a 2nd storage shed. Wood burning fireplace, no HOA and will be a very convenient 2 miles from the 540 extension!

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: Southern Oaks

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $106k359k

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

Neighborhood: Southern Oaks

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2700800900100011001200130014001500160017001800Rent in $6181873

* 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
Banks Road Elementary School Primary Regular 699 48 6
Holly Grove Middle School Middle Regular 1,439 81 8
Middle Creek High School High Regular 2,249 120 7

Banks Road Elementary School

  • Education Level: Primary
  • # of students: 699
  • # of teachers: 48
6
GreatSchools Rating

Holly Grove Middle School

  • Education Level: Middle
  • # of students: 1,439
  • # of teachers: 81
8
GreatSchools Rating

Middle Creek High School

  • Education Level: High
  • # of students: 2,249
  • # of teachers: 120
7
GreatSchools Rating
 

$202,500$247,500$225,000

PURCHASE PRICE

$990$1,210$1,100

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,100
EXPENSES Loan Payment -$782
Property Tax -$165
Property Insurance -$50
Property Management Fees -$119
CASH FLOW
-$16

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 16% of earned rent to cover both maintenance and periods of vacancy.

$225,000

PROJECTED PRICE

$1,100

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.33%
Appreciation Year (1-5) 5.7%
Maintenance Year (1-5) 8.00%
Vacancy 7.51%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$65,375

INVESTMENT

$65,375

Down Payment
$56,250
Rehab Estimate
$5,750
Closing Costs
$3,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$782

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $56,250
Loan Amount $168,750
See What Happens When You Reinvest Cash Flow

5.92

YEARS SAVED

$14,884

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,100

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,112

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,000
1$1,0002$1,1003$1,3254$1,495
$1,495
RENT COMPS ANALYSIS
  • 10836 Fanny Brown Road Raleigh, NC 2
    • 3 beds 2 baths ∙ 1,158 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,158 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.95
    •  
  • 3201 Bare Creek Lane Raleigh, NC 1
    • 3 beds 2 baths ∙ 1,328 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,328 Sqft ∙ Built 1986
    LEASED 08/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,000
    • $0.75
    •  
  • 3420 Banks Road Raleigh, NC 3
    • 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1984
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,325
    • $1.10
    •  
  • 5528 Moorhaven Drive Raleigh, NC 4
    • 3 beds 2 baths ∙ 1,446 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,446 Sqft ∙ Built 1999
    LEASED 04/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.03
    •  
PROPERTY LISTING DETAILS
Leslie-anne Ball
1.919.633.3388
Better Homes & Gardens Real Estate Paracle
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2371893
Last Updated: 03/13/2021
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