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114 Brandi Drive Rolesville, NC 27571

4 Beds 3 Baths 1,927 sqft Built 2003

$280,000

List Price

$1,520

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $145.30
  • 3 Days on Market
  • MLS # : 2358508
  • Updated Date : 12/18/2020 at 20:21
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,927 sqft
  • Baths : 2 full , 1 half
Listing Agent

Raleigh Cary Realty Inc.

Listing Agent's Description

Single owner home, well maintained and loved, less than two miles from downtown Rolesville. New garage door in 2019, recently remodeled master bathroom, newer carpet upstairs. This home could be ready for the next owner to move right in or you could add value by doing some cosmetic updating. It's been well maintained by the original owners for 17 years. Workshop in garage, screened patio, large 0.46 acre lot. https://hdphotohub.com/x189037///

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: Brandiwood

NeighborhoodNIR Market*CityMarket2010Year20002019160k180k200k220k240k260k280k300k320k340kPrice in $153k359k

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

Neighborhood: Brandiwood

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2100011001200130014001500160017001800Rent in $9831881

* 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
Sanford Creek Elementary School Primary Regular 697 45 4
Rolesville Middle School Middle Unknown 1,263 75 NA
Rolesville High School High Regular 1,200 69 NA

Sanford Creek Elementary School

  • Education Level: Primary
  • # of students: 697
  • # of teachers: 45
4
GreatSchools Rating

Rolesville Middle School

  • Education Level: Middle
  • # of students: 1,263
  • # of teachers: 75
NA
GreatSchools Rating

Rolesville High School

  • Education Level: High
  • # of students: 1,200
  • # of teachers: 69
NA
GreatSchools Rating
 

$252,000$308,000$280,000

PURCHASE PRICE

$1,368$1,672$1,520

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,520
EXPENSES Loan Payment -$1,033
Property Tax -$226
Property Insurance -$65
HOA -$26
Property Management Fees -$119
CASH FLOW
$51

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.

$280,000

PROJECTED PRICE

$1,520

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.33%
Appreciation Year (1-5) 4.8%
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$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,950

INVESTMENT

$79,950

Down Payment
$70,000
Rehab Estimate
$5,750
Closing Costs
$4,200

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,033

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $70,000
Loan Amount $210,000
See What Happens When You Reinvest Cash Flow

7.33

YEARS SAVED

$29,266

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,520

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $1,571

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,4953$1,5204$1,6505$1,675
$1,675
RENT COMPS ANALYSIS
  • 114 Brandi Drive Rolesville, NC 3
    • 4 beds 3 baths ∙ 1,927 Sqft ∙ Built 2003 4 beds 3 baths ∙ 1,927 Sqft ∙ Built 2003
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,520
    • $0.79
    •  
  • 655 Ashbrittle Drive Rolesville, NC 1
    • 3 beds 3 baths ∙ 1,711 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,711 Sqft ∙ Built 2006
    property image
    LEASED 04/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.82
    •  
  • 6320 Jones Farm Road Wake Forest, NC 2
    • 3 beds 3 baths ∙ 1,703 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,703 Sqft ∙ Built 1986
    property image
    LEASED 09/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.88
    •  
  • 418 Shady Willow Lane Rolesville, NC 4
    • 4 beds 3 baths ∙ 2,141 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,141 Sqft ∙ Built 2006
    property image
    LEASED 07/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.77
    •  
  • 652 Ashbrittle Drive Rolesville, NC 5
    • 4 beds 3 baths ∙ 2,120 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,120 Sqft ∙ Built 2005
    property image
    LEASED 07/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.79
    •  
PROPERTY LISTING DETAILS
Taylor Anderson
1.919.578.2947
Raleigh Cary Realty Inc.
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2358508
Last Updated: 12/18/2020
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