Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

111 St Paul Street Durham, NC 27704

3 Beds 1 Baths 884 sqft Built 1940

$195,000

List Price

$1,170

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

December 23, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1940
  • Price/Sqft : $220.59
  • 8 Days on Market
  • MLS # : 2358711
  • Updated Date : 12/26/2020 at 16:06
CONSTRUCTION
  • Beds : 3
  • Floor Size : 884 sqft
  • Baths : 1 full
Listing Agent

Brokers United Realty

Listing Agent's Description

Charming Northgate Park Location, Features Wood Ceilings, 3 bedroom bungalow. 3rd bedroom converted into office. Beautiful wood panel walls. Hardwoods under carpet in Living room and hallway. Huge fenced in back yard. Nice deck, Covered front porch. HVAC installed 2020, Steel tub, Wall tile, Kitchen and bathroom flooring installed 2019. Great location, walking distance to food, shops, etc. Refrigerator, Washer and Dryer Conveys. Showings Start 12-26-2020.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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

PRICE & RENT TRENDS

Neighborhood: Northgate Park

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260kPrice in $61k274k

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

Neighborhood: Northgate Park

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2800900100011001200130014001500Rent in $7261518

* 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
Glenn Elementary School Primary Regular 644 46 1
Brogden Middle School Middle Regular 638 45 2
Riverside High School High Regular 1,811 106 4

Glenn Elementary School

  • Education Level: Primary
  • # of students: 644
  • # of teachers: 46
1
GreatSchools Rating

Brogden Middle School

  • Education Level: Middle
  • # of students: 638
  • # of teachers: 45
2
GreatSchools Rating

Riverside High School

  • Education Level: High
  • # of students: 1,811
  • # of teachers: 106
4
GreatSchools Rating
 

$175,500$214,500$195,000

PURCHASE PRICE

$1,053$1,287$1,170

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,170
EXPENSES Loan Payment -$719
Property Tax -$169
Property Insurance -$44
Property Management Fees -$119
CASH FLOW
$118

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.

$195,000

PROJECTED PRICE

$1,170

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.28%
Appreciation Year (1-5) 7.5%
Maintenance Year (1-5) 8.00%
Vacancy 8.55%
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$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$57,425

INVESTMENT

$57,425

Down Payment
$48,750
Rehab Estimate
$5,750
Closing Costs
$2,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$719

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $48,750
Loan Amount $146,250
See What Happens When You Reinvest Cash Flow

9.08

YEARS SAVED

$28,060

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,170

    LIST RENT
  • $1.32

    LIST RENT PER SQFT
  • $1,182

    COMP ESTIMATED VALUE
  • $1.34

    COMP AVG. RENT PER SQFT
Comps Range
$1,150
1$1,1502$1,1703$1,4954$1,660
$1,660
RENT COMPS ANALYSIS
  • 111 St Paul Street Durham, NC 2
    • 3 beds 1 baths ∙ 884 Sqft ∙ Built 1940 3 beds 1 baths ∙ 884 Sqft ∙ Built 1940
    • Rent
    • Rent Per SQFT
    •  
    • $1,170
    • $1.32
    •  
  • 1406 Gearwood Avenue Durham, NC 1
    • 3 beds 2 baths ∙ 1,000 Sqft ∙ Built 1944 3 beds 2 baths ∙ 1,000 Sqft ∙ Built 1944
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $1.15
    •  
  • 2409 N Duke Street Durham, NC 3
    • 3 beds 2 baths ∙ 1,134 Sqft ∙ Built 1957 3 beds 2 baths ∙ 1,134 Sqft ∙ Built 1957
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.32
    •  
  • 1111 Lancaster Street Durham, NC 4
    • 3 beds 2 baths ∙ 1,080 Sqft ∙ Built 1940 3 beds 2 baths ∙ 1,080 Sqft ∙ Built 1940
    LEASED 05/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,660
    • $1.54
    •  
PROPERTY LISTING DETAILS
Calinda Mcmickle
1.919.417.0478
Brokers United Realty
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2358711
Last Updated: 12/26/2020
BESbswy