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117 Archdale Drive Durham, NC 27707

3 Beds 1 Baths 1,100 sqft Built 1967

$175,000

List Price

$1,080

$972 - $1.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1967
  • Price/Sqft : $159.09
  • 5 Days on Market
  • MLS # : 2373874
  • Updated Date : 03/26/2021 at 20:06
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,100 sqft
  • Baths : 1 full
Listing Agent

Weichert Realtors-triangle

Listing Agent's Description

All brick home in prime location! 3 bed 1 bath with wooded view. New roof, HVAC, windows and hardwood floors. Located off MLK close to 40 and 147, next to parks and American Tobacco Trail. Minutes from shopping, restaurants and Southpoint Mall. Great for a first-time homebuyer or investor!

SEE MORE

MARKET HIGHLIGHTS

  • Major employers in Raleigh area: IBM, Cisco systems, Fidelity Investments, GlaxoSmithKline, RTI International
  • #7 Best Big City for Jobs 2018 (Forbes, 2018)
  • 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: Hope Valley

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $106k303k

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

Neighborhood: Hope Valley

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q290010001100120013001400150016001700Rent in $8591762

* 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
Southwest Elementary School Primary Regular 666 44 4
Sherwood Githens Middle School Middle Regular 1,011 62 5
Charles E. Jordan High School High Regular 1,848 107 4

Southwest Elementary School

  • Education Level: Primary
  • # of students: 666
  • # of teachers: 44
4
GreatSchools Rating

Sherwood Githens Middle School

  • Education Level: Middle
  • # of students: 1,011
  • # of teachers: 62
5
GreatSchools Rating

Charles E. Jordan High School

  • Education Level: High
  • # of students: 1,848
  • # of teachers: 107
4
GreatSchools Rating
 

$157,500$192,500$175,000

PURCHASE PRICE

$972$1,188$1,080

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,080
EXPENSES Loan Payment -$608
Property Tax -$152
Property Insurance -$48
Property Management Fees -$119
CASH FLOW
$153

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.

$175,000

PROJECTED PRICE

$1,080

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.42%
Appreciation Year (1-5) 5.2%
Maintenance Year (1-5) 8.00%
Vacancy 8.51%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$52,125

INVESTMENT

$52,125

Down Payment
$43,750
Rehab Estimate
$5,750
Closing Costs
$2,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$608

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $43,750
Loan Amount $131,250
See What Happens When You Reinvest Cash Flow

9.33

YEARS SAVED

$22,624

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,080

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $1,221

    COMP ESTIMATED VALUE
  • $1.11

    COMP AVG. RENT PER SQFT
Comps Range
$1,080
1$1,0802$1,2953$1,3004$1,505
$1,505
RENT COMPS ANALYSIS
  • 117 Archdale Drive Durham, NC 1
    • 3 beds 1 baths ∙ 1,100 Sqft ∙ Built 1967 3 beds 1 baths ∙ 1,100 Sqft ∙ Built 1967
    • Rent
    • Rent Per SQFT
    •  
    • $1,080
    • $0.98
    •  
  • 2317 Curtis Street Durham, NC 2
    • 4 beds 2 baths ∙ 1,251 Sqft ∙ Built 1971 4 beds 2 baths ∙ 1,251 Sqft ∙ Built 1971
    LEASED 01/27/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $1.04
    •  
  • 2825 S Roxboro Street Durham, NC 3
    • 3 beds 1 baths ∙ 1,107 Sqft ∙ Built 1978 3 beds 1 baths ∙ 1,107 Sqft ∙ Built 1978
    LEASED 12/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $1.17
    •  
  • 3302 Lassiter Street Durham, NC 4
    • 3 beds 2 baths ∙ 1,344 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,344 Sqft ∙ Built 1987
    LEASED 02/22/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,505
    • $1.12
    •  
PROPERTY LISTING DETAILS
Vendela Spalango
1.919.468.7076
Weichert Realtors-triangle
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2373874
Last Updated: 03/26/2021
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