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PROPERTY INFO
FACTS
- Single Family
- Built In 2003
- Price/Sqft : $114.30
- 4 Days on Market
- MLS # : 2362698
- Updated Date : 01/23/2021 at 18:39
CONSTRUCTION
- Beds : 4
- Floor Size : 2,406 sqft
- Baths : 2 full , 1 half
Listing Agent
Keller Williams Elite Realty
Listing Agent's Description
This stunning country home has everything! The designated office space is perfect for the modern work-from-home lifestyle, and you'll never feel crowded with the beautifully designed open concept floor plan! Every room has a walk in closet, and you can spend evenings in your oversized bonus room for movie nights! Head out back to relax in the pool, or work on projects in the shed! The oversized yard is just what you would expect from this home! Close to shopping, dining, and more; you'll love it here!
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)
- #7 Best Big City for Jobs 2018 (Forbes, 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
- One of Top 10 cities for Small Business Friendliness (Thumbtack, 2018)
PRICE & RENT TRENDS
Neighborhood: Johnsons Pond
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Johnsons Pond
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,610 |
| EXPENSES | Loan Payment | -$955 |
| Property Tax | -$186 | |
| Property Insurance | -$74 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$276
|
||
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.
$275,000
PROJECTED PRICE
$1,610
PROJECTED RENT
0.59%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.78% |
| Appreciation Year (1-5) | 4.9% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 7.49% |
| 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
$78,625
LOAN DETAILS
$955
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $68,750 |
| Loan Amount | $206,250 |
10.75
YEARS SAVED
$44,505
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 -
$0.67
LIST RENT PER SQFT
-
$1,666
COMP ESTIMATED VALUE -
$0.69
COMP AVG. RENT PER SQFT
Comps Range
-
111 Richard Drive Garner, NC 4
- 4 beds 3 baths ∙ 2,406 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,406 Sqft ∙ Built 2003
- Rent
- Rent Per SQFT
- $1,610
- $0.67
-
27 N Ringneck Place Garner, NC 1
- 3 beds 3 baths ∙ 2,110 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,110 Sqft ∙ Built 2003
LEASED 01/06/20- Rent
- Rent Per SQFT
- $1,495
- $0.71
-
359 Johnson Estate Road Clayton, NC 2
- 4 beds 3 baths ∙ 2,200 Sqft ∙ Built 1983 4 beds 3 baths ∙ 2,200 Sqft ∙ Built 1983
LEASED 02/20/20- Rent
- Rent Per SQFT
- $1,500
- $0.68
-
187 W Alex Drive Clayton, NC 3
- 3 beds 3 baths ∙ 2,260 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,260 Sqft ∙ Built 2004
LEASED 10/17/20- Rent
- Rent Per SQFT
- $1,600
- $0.71
-
71 Speight Lane Garner, NC 5
- 3 beds 3 baths ∙ 2,630 Sqft ∙ Built 2008 3 beds 3 baths ∙ 2,630 Sqft ∙ Built 2008
LEASED 01/15/21- Rent
- Rent Per SQFT
- $1,750
- $0.67
PROPERTY LISTING DETAILS
1.984.244.5830
Keller Williams Elite Realty
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
MLS #: 2362698
Last Updated: 01/23/2021
