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1127 Hodge Road Knightdale, NC 27545

3 Beds 1 Baths 1,600 sqft Built 1960

$199,900

List Price

$1,510

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1960
  • Price/Sqft : $124.94
  • 2 Days on Market
  • MLS # : 2369205
  • Updated Date : 02/27/2021 at 17:05
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,600 sqft
  • Baths : 1 full
Listing Agent

Trademark Residential

Listing Agent's Description

On level living between Raleigh and Knightdale super easy access to 540 making this location an easy drive to all the Triangle has to offer. Large .69 acre lot with out building in the back yard for storage. Much of the heavy lifting has been completed, New roof 2020, new heating 2021. Live in now and remodel on your time table. No HOA and Low taxes.

SEE MORE

MARKET HIGHLIGHTS

  • #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)
  • 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: Green Pines

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $115k265k

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

Neighborhood: Green Pines

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2900950100010501100115012001250130013501400145015001550Rent in $8901595

* 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
Lockhart Elementary School Primary Regular 683 49 4
East Wake Middle School Middle Regular 884 56 2
Knightdale High School High Regular 1,672 99 2

Lockhart Elementary School

  • Education Level: Primary
  • # of students: 683
  • # of teachers: 49
4
GreatSchools Rating

East Wake Middle School

  • Education Level: Middle
  • # of students: 884
  • # of teachers: 56
2
GreatSchools Rating

Knightdale High School

  • Education Level: High
  • # of students: 1,672
  • # of teachers: 99
2
GreatSchools Rating
 

$179,910$219,890$199,900

PURCHASE PRICE

$1,359$1,661$1,510

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,510
EXPENSES Loan Payment -$694
Property Tax -$103
Property Insurance -$58
Property Management Fees -$119
CASH FLOW
$535

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.

$199,900

PROJECTED PRICE

$1,510

PROJECTED RENT

0.76%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 6.1%
Maintenance Year (1-5) 8.00%
Vacancy 7.49%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k

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$58,724

INVESTMENT

$58,724

Down Payment
$49,975
Rehab Estimate
$5,750
Closing Costs
$2,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$694

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $49,975
Loan Amount $149,925
See What Happens When You Reinvest Cash Flow

16.5

YEARS SAVED

$55,112

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,510

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,717

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$1,425
1$1,4252$1,5003$1,5104$1,525
$1,525
RENT COMPS ANALYSIS
  • 1127 Hodge Road Knightdale, NC 3
    • 3 beds 1 baths ∙ 1,600 Sqft ∙ Built 1960 3 beds 1 baths ∙ 1,600 Sqft ∙ Built 1960
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,510
    • $0.94
    •  
  • 605 Colchester Drive Knightdale, NC 1
    • 3 beds 2 baths ∙ 1,445 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,445 Sqft ∙ Built 1974
    property image
    LEASED 10/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $0.99
    •  
  • 214 Lynnwood Estates Drive Knightdale, NC 2
    • 3 beds 2 baths ∙ 1,315 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,315 Sqft ∙ Built 1971
    property image
    LEASED 10/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.14
    •  
  • 303 Colchester Drive Knightdale, NC 4
    • 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1972
    property image
    LEASED 11/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $1.09
    •  
PROPERTY LISTING DETAILS
Rick Dean
1.919.522.2901
Trademark Residential
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2369205
Last Updated: 02/27/2021
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