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PROPERTY INFO
FACTS
- Single Family
- Built In 2001
- Price/Sqft : $173.21
- 2 Days on Market
- MLS # : 2365509
- Updated Date : 02/06/2021 at 23:09
CONSTRUCTION
- Beds : 3
- Floor Size : 1,120 sqft
- Baths : 2 full
Listing Agent
Tlynthia Crews
Listing Agent's Description
Beautiful home in move-in condition boasts hardwood floors, new carpet in bedrooms, new granite countertop in the hallway bathroom, wood burning fireplace, eat-in kitchen with a bay window and the inside of the home was recently painted. A must see! This home won't last on the market long!
SEE MORE
- 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
Neighborhood: Mingo Creek
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Mingo Creek
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,300 |
| EXPENSES | Loan Payment | -$674 |
| Property Tax | -$151 | |
| Property Insurance | -$49 | |
| HOA | -$36 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$271
|
||
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.
$194,000
PROJECTED PRICE
$1,300
PROJECTED RENT
0.67%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.76% |
| Appreciation Year (1-5) | 7.2% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 7.47% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$57,160
LOAN DETAILS
$674
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $48,500 |
| Loan Amount | $145,500 |
12.42
YEARS SAVED
$37,485
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,300
LIST RENT -
$1.16
LIST RENT PER SQFT
-
COMP ESTIMATED VALUE -
COMP AVG. RENT PER SQFT
Comps Range
-
1208 Delham Road Knightdale, NC
- 3 beds 2 baths ∙ 1,120 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,120 Sqft ∙ Built 2001
![property image]()
- Rent
- Rent Per SQFT
- $1,300
- $1.16
PROPERTY LISTING DETAILS
1.919.612.1379
Tlynthia Crews
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
MLS #: 2365509
Last Updated: 02/06/2021
