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12509 Village Pines Lane Raleigh, NC 27614

3 Beds 3 Baths 1,637 sqft Built 1999

INVESTimate

$262,000

List Price

$1,380

$1,242 - $1,518

Rent Est.

$267,947  ( +2.27%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 1999
  • Price/Sqft : $160.05
  • 6 Days on Market
  • MLS # : 2338577
  • Updated Date : 08/26/2020 at 01:50
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,637 sqft
  • Baths : 2 full , 1 half
Listing Agent

Northside Realty Inc.

Listing Agent's Description

Don't miss out on this precious Wakefield home! Classy & modern kitchen has SS appliances, subway tile & gorgeous granite c-tops. Fresh paint, new carpet, granite c-tops in both upstairs baths. Master bath w/ tub, walk in shower & dual vanity. Rocking chair front porch. Great outdoor entertaining w/ screened porch & fire-pit. Fenced yard. Community Clubhouse, Pool & Playground! Walk or bike to YMCA, Neuse River Trail, shopping center & Wakefield schools! Roof 2019. Washer, dryer and refrigerator stay!

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: Wakefield Plantation Cheshire

NeighborhoodNIR Market*CityMarket2010Year20002019160k180k200k220k240k260k280k300k320k340kPrice in $153k359k

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

Neighborhood: Wakefield Plantation Cheshire

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q211001200130014001500160017001800Rent in $10181873

* 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
Wakefield Elementary School Primary Regular 662 46 4
Wakefield Middle School Middle Regular 1,139 63 5
Wakefield High School High Regular 2,387 132 5

Wakefield Elementary School

  • Education Level: Primary
  • # of students: 662
  • # of teachers: 46
4
GreatSchools Rating

Wakefield Middle School

  • Education Level: Middle
  • # of students: 1,139
  • # of teachers: 63
5
GreatSchools Rating

Wakefield High School

  • Education Level: High
  • # of students: 2,387
  • # of teachers: 132
5
GreatSchools Rating
 

$235,800$288,200$262,000

PURCHASE PRICE

$1,242$1,518$1,380

RENT

DOWN PAYMENT
FINANCING

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,380
EXPENSES Loan Payment -$967
Property Tax -$237
Property Insurance -$59
HOA -$32
Property Management Fees -$124
CASH FLOW
-$39

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.

$262,000

PROJECTED PRICE

$1,380

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.33%
Appreciation Year (1-5) 2.27%
Maintenance Year (1-5) 8.00%
Vacancy 7.51%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$75,180

INVESTMENT

$75,180

Down Payment
$65,500
Rehab Estimate
$5,750
Closing Costs
$3,930

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$967

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $65,500
Loan Amount $196,500
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$13,243

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,380

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,572

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,380
1$1,3802$1,5253$1,5504$1,6955$1,795
$1,795
RENT COMPS ANALYSIS
  • 12509 Village Pines Lane Raleigh, 1
    • 3 beds 3 baths ∙ 1,637 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,637 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $1,380
    • $0.84
    •  
  • 12500 Waterlow Park Lane Raleigh, 2
    • 3 beds 3 baths ∙ 1,625 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,625 Sqft ∙ Built 1999
    LEASED 08/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.94
    •  
  • 2504 Forest Shadows Raleigh, 3
    • 3 beds 2 baths ∙ 1,587 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,587 Sqft ∙ Built 2003
    LEASED 11/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.98
    •  
  • 12525 Waterlow Park Lane Raleigh, 4
    • 3 beds 3 baths ∙ 1,737 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,737 Sqft ∙ Built 1999
    LEASED 01/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.98
    •  
  • 12520 Village Pines Lane Raleigh, 5
    • 4 beds 3 baths ∙ 1,919 Sqft ∙ Built 2000 4 beds 3 baths ∙ 1,919 Sqft ∙ Built 2000
    LEASED 06/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.94
    •  
PROPERTY LISTING DETAILS
Audrey Johnston
1.919.208.8405
Northside Realty Inc.
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2338577
Last Updated: 08/26/2020
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