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116 Snowy Egret Court Durham, NC 27704

3 Beds 3 Baths 2,097 sqft Built 2016

$295,000

List Price

$1,600

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $140.68
  • 3 Days on Market
  • MLS # : 2365404
  • Updated Date : 02/06/2021 at 15:02
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,097 sqft
  • Baths : 2 full , 1 half
Listing Agent

Nest Realty Of The Triangle

Listing Agent's Description

Beautiful 3 bedroom home with a private wooded backyard! Open floorpan, including downstairs office, fireplace, and vinyl on first floor. Fresh carpet and paint in Feb.2021! Large owner's suite with tray ceiling, garden tub, separate tile shower, dual vanity, and walk-in closet.

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)
  • 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

PRICE & RENT TRENDS

Zip Code: 27704

ZipNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260kPrice in $61k274k

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

Zip Code: 27704

ZipNIR 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
Merrick-moore Elementary School Primary Regular 704 46 3
Neal Magnet Middle School Middle Regular 857 60 1
Southern School Of Energy And Sustainability High Regular 1,292 90 2

Merrick-moore Elementary School

  • Education Level: Primary
  • # of students: 704
  • # of teachers: 46
3
GreatSchools Rating

Neal Magnet Middle School

  • Education Level: Middle
  • # of students: 857
  • # of teachers: 60
1
GreatSchools Rating

Southern School Of Energy And Sustainability

  • Education Level: High
  • # of students: 1,292
  • # of teachers: 90
2
GreatSchools Rating
 

$265,500$324,500$295,000

PURCHASE PRICE

$1,440$1,760$1,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,600
EXPENSES Loan Payment -$1,025
Property Tax -$256
Property Insurance -$67
HOA -$40
Property Management Fees -$119
CASH FLOW
$93

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.

$295,000

PROJECTED PRICE

$1,600

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.28%
Appreciation Year (1-5) 6.7%
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$200k$400k$600k$800k$1.0M

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$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$83,925

INVESTMENT

$83,925

Down Payment
$73,750
Rehab Estimate
$5,750
Closing Costs
$4,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,025

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $73,750
Loan Amount $221,250
See What Happens When You Reinvest Cash Flow

7.33

YEARS SAVED

$26,730

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,600

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $1,693

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,575
1$1,5752$1,5953$1,6004$1,7505$1,795
$1,795
RENT COMPS ANALYSIS
  • 116 Snowy Egret Court Durham, NC 3
    • 3 beds 3 baths ∙ 2,097 Sqft ∙ Built 2016 3 beds 3 baths ∙ 2,097 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.76
    •  
  • 1108 Homecoming Way Durham, NC 1
    • 3 beds 3 baths ∙ 1,896 Sqft ∙ Built 2019 3 beds 3 baths ∙ 1,896 Sqft ∙ Built 2019
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.83
    •  
  • 1102 Homecoming Way Durham, NC 2
    • 4 beds 3 baths ∙ 1,920 Sqft ∙ Built 2019 4 beds 3 baths ∙ 1,920 Sqft ∙ Built 2019
    LEASED 09/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.83
    •  
  • 3521 Mountain Brook Circle Durham, NC 4
    • 4 beds 3 baths ∙ 2,392 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,392 Sqft ∙ Built 2007
    LEASED 12/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.73
    •  
  • 1139 Sweet Cream Court Durham, NC 5
    • 4 beds 3 baths ∙ 2,134 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,134 Sqft ∙ Built 2020
    LEASED 10/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.84
    •  
PROPERTY LISTING DETAILS
Kimberly Stelmok
1.919.215.1830
Nest Realty Of The Triangle
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2365404
Last Updated: 02/06/2021
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