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13 Bentwood Place Durham, NC 27703

3 Beds 3 Baths 1,326 sqft Built 1988

INVESTimate

$189,000

List Price

$1,210

$1,089 - $1,331

Rent Est.

$201,474  ( +6.60%)   1 YR EST. FORECAST

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 1988
  • Price/Sqft : $142.53
  • 2 Days on Market
  • MLS # : 2339034
  • Updated Date : 08/25/2020 at 18:56
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,326 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max United

Listing Agent's Description

This wonderful home in a culd-a-sac is ready for you to call it home! The surrounding trees provide delightful shade and privacy for your patio during those hot summer evenings! Take a walk inside & you'll find New Paint, New Flooring, and we know you'll love the Gorgeous New Kitchen. The living room will be a place you will enjoy with the cozy fireplace. Great location, 20 minutes to Falls Lake & 15 minutes to endless restaurants/shopping! Updates inlcude HVAC 2015, Roof 2017, New windows 2020.

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: Greysons Green

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $98k274k

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

Neighborhood: Greysons Green

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q290095010001050110011501200125013001350140014501500Rent in $8591518

* 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
 

$170,100$207,900$189,000

PURCHASE PRICE

$1,089$1,331$1,210

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$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,210
EXPENSES Loan Payment -$697
Property Tax -$164
Property Insurance -$53
Property Management Fees -$109
CASH FLOW
$187

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.

$189,000

PROJECTED PRICE

$1,210

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.11%
Appreciation Year (1-5) 6.60%
Maintenance Year (1-5) 8.00%
Vacancy 8.54%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$55,835

INVESTMENT

$55,835

Down Payment
$47,250
Rehab Estimate
$5,750
Closing Costs
$2,835

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$697

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $47,250
Loan Amount $141,750
See What Happens When You Reinvest Cash Flow

9.58

YEARS SAVED

$30,532

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,210

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,227

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,195
1$1,1952$1,2103$1,2504$1,3005$1,450
$1,450
RENT COMPS ANALYSIS
  • 13 Bentwood Place Durham, 2
    • 3 beds 3 baths ∙ 1,326 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,326 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $1,210
    • $0.91
    •  
  • 701 Grandview Drive Durham, 1
    • 3 beds 3 baths ∙ 1,361 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,361 Sqft ∙ Built 1990
    LEASED 09/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $0.88
    •  
  • 2 Tarrywood Court Durham, 3
    • 3 beds 3 baths ∙ 1,348 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,348 Sqft ∙ Built 1999
    LEASED 03/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.93
    •  
  • 5 Tarrywood Court Durham, 4
    • 3 beds 3 baths ∙ 1,350 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,350 Sqft ∙ Built 1999
    LEASED 10/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.96
    •  
  • 204 Lodestone Drive Durham, 5
    • 3 beds 3 baths ∙ 1,557 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,557 Sqft ∙ Built 2007
    LEASED 05/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.93
    •  
PROPERTY LISTING DETAILS
Lisa Quin
1.919.559.1788
Re/max United
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2339034
Last Updated: 08/25/2020
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