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1101 Linden Crest Road Raleigh, NC 27603

3 Beds 3 Baths 2,272 sqft Built 2001

INVESTimate

$269,900

List Price

$1,690

$1,521 - $1,859

Rent Est.

$285,257  ( +5.69%)   1 YR EST. FORECAST

PROPERTY INFO

August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 2001
  • Price/Sqft : $118.79
  • 7 Days on Market
  • MLS # : 2338295
  • Updated Date : 08/24/2020 at 19:47
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,272 sqft
  • Baths : 3 full
Listing Agent

Keller Williams Realty Platinu

Listing Agent's Description

Better than a ranch! Owners suite plus 2 BRs + 2 full baths on main floor. Large bonus + office/workout room on second floor! Beautifully updated kitchen with granite counters, tiled back splash, big pantry & breakfast area. Corner gas fireplace in family room. Spacious master with separate tub/shower and large walk in closet. Endless possibilities for the second floor! Don't miss the rocking chair front porch and 2- car garage. Deck overlooks flat yard yard. Country setting close to shopping & schools!

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
  • #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)
  • 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: Sauls Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019160k180k200k220k240k260k280k300k320k340kPrice in $153k359k

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

Neighborhood: Sauls Ridge

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2900100011001200130014001500160017001800Rent in $8571873

* 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
Rand Road Elementary School Primary Regular 558 36 5
North Garner Middle School Middle Regular 948 59 3
South Garner High School High Regular NA

Rand Road Elementary School

  • Education Level: Primary
  • # of students: 558
  • # of teachers: 36
5
GreatSchools Rating

North Garner Middle School

  • Education Level: Middle
  • # of students: 948
  • # of teachers: 59
3
GreatSchools Rating

South Garner High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$242,910$296,890$269,900

PURCHASE PRICE

$1,521$1,859$1,690

RENT

DOWN PAYMENT
FINANCING

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,690
EXPENSES Loan Payment -$996
Property Tax -$239
Property Insurance -$71
HOA -$13
Property Management Fees -$152
CASH FLOW
$220

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.

$269,900

PROJECTED PRICE

$1,690

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.33%
Appreciation Year (1-5) 5.69%
Maintenance Year (1-5) 8.00%
Vacancy 7.51%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$77,274

INVESTMENT

$77,274

Down Payment
$67,475
Rehab Estimate
$5,750
Closing Costs
$4,049

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$996

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $67,475
Loan Amount $202,425
See What Happens When You Reinvest Cash Flow

9.42

YEARS SAVED

$41,748

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,690

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $1,780

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,5753$1,6904$1,875
$1,875
RENT COMPS ANALYSIS
  • 1101 Linden Crest Road Raleigh, 3
    • 3 beds 3 baths ∙ 2,272 Sqft ∙ Built 2001 3 beds 3 baths ∙ 2,272 Sqft ∙ Built 2001
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $0.74
    •  
  • 9205 Tree Meadow Lane Raleigh, 1
    • 3 beds 2 baths ∙ 1,950 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,950 Sqft ∙ Built 1988
    property image
    LEASED 03/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.74
    •  
  • 1301 Red Brick Road Garner, 2
    • 3 beds 3 baths ∙ 2,045 Sqft ∙ Built 2001 3 beds 3 baths ∙ 2,045 Sqft ∙ Built 2001
    property image
    LEASED 07/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.77
    •  
  • 4909 Swordfish Drive Raleigh, 4
    • 3 beds 3 baths ∙ 2,227 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,227 Sqft ∙ Built 2004
    property image
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.84
    •  
PROPERTY LISTING DETAILS
Cassondra Liles
Keller Williams Realty Platinu
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2338295
Last Updated: 08/24/2020
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