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1200 Hazelnut Drive Raleigh, NC 27610

3 Beds 2 Baths 1,196 sqft Built 1969

$215,000

List Price

$1,120

$1K - $1.2K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1969
  • Price/Sqft : $179.77
  • 3 Days on Market
  • MLS # : 2357580
  • Updated Date : 12/12/2020 at 01:27
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,196 sqft
  • Baths : 1 full , 1 half
Listing Agent

Opendoor Brokerage Llc

Listing Agent's Description

Lovely 3bed/1.5bath sitting on a .27 acre lot in Kingwood Forest. Once inside, you’ll find laminate flooring in the living area and carpet in the bedrooms. The kitchen offers granite countertops, stainless steel appliances and tile backsplash. This home is sure to impress! This home is vacant and cleaned regularly.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Kingwood Forest

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $82k277k

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

Neighborhood: Kingwood Forest

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q27008009001000110012001300140015001600Rent in $6721630

* 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
Timber Drive Elementary School Primary Regular 669 46 2
Lufkin Road Middle School Middle Regular 1,000 57 8
Southeast Raleigh High School High Magnet 1,538 110 4

Timber Drive Elementary School

  • Education Level: Primary
  • # of students: 669
  • # of teachers: 46
2
GreatSchools Rating

Lufkin Road Middle School

  • Education Level: Middle
  • # of students: 1,000
  • # of teachers: 57
8
GreatSchools Rating

Southeast Raleigh High School

  • Education Level: High
  • # of students: 1,538
  • # of teachers: 110
4
GreatSchools Rating
 

$193,500$236,500$215,000

PURCHASE PRICE

$1,008$1,232$1,120

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,120
EXPENSES Loan Payment -$793
Property Tax -$158
Property Insurance -$51
Property Management Fees -$119
CASH FLOW
-$1

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.

$215,000

PROJECTED PRICE

$1,120

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 7.0%
Maintenance Year (1-5) 8.00%
Vacancy 7.47%
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-$2.0k$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$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$62,725

INVESTMENT

$62,725

Down Payment
$53,750
Rehab Estimate
$5,750
Closing Costs
$3,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$793

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $53,750
Loan Amount $161,250
See What Happens When You Reinvest Cash Flow

5.83

YEARS SAVED

$16,472

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,120

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,136

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$995
1$9952$1,1203$1,1254$1,1955$1,225
$1,225
RENT COMPS ANALYSIS
  • 1200 Hazelnut Drive Raleigh, NC 2
    • 3 beds 2 baths ∙ 1,196 Sqft ∙ Built 1969 3 beds 2 baths ∙ 1,196 Sqft ∙ Built 1969
    • Rent
    • Rent Per SQFT
    •  
    • $1,120
    • $0.94
    •  
  • 500 Raleigh Pines Drive Raleigh, NC 1
    • 3 beds 2 baths ∙ 1,031 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,031 Sqft ∙ Built 1970
    LEASED 12/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $995
    • $0.97
    •  
  • 2001 Southgate Drive Raleigh, NC 3
    • 3 beds 1 baths ∙ 1,175 Sqft ∙ Built 1968 3 beds 1 baths ∙ 1,175 Sqft ∙ Built 1968
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,125
    • $0.96
    •  
  • 2708 Adcox Place Raleigh, NC 4
    • 3 beds 2 baths ∙ 1,280 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,280 Sqft ∙ Built 1979
    LEASED 11/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $0.93
    •  
  • 2704 Plainsfield Circle Raleigh, NC 5
    • 4 beds 2 baths ∙ 1,300 Sqft ∙ Built 1971 4 beds 2 baths ∙ 1,300 Sqft ∙ Built 1971
    LEASED 04/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,225
    • $0.94
    •  
PROPERTY LISTING DETAILS
Verria Hairston
1.919.679.9883
Opendoor Brokerage Llc
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2357580
Last Updated: 12/12/2020
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