Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

1314 Ed Cook Road Durham, NC 27703

4 Beds 3 Baths 1,434 sqft Built 1964

$229,777

List Price

$1,400

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

December 26, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1964
  • Price/Sqft : $160.24
  • 2 Days on Market
  • MLS # : 2359098
  • Updated Date : 12/27/2020 at 01:04
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,434 sqft
  • Baths : 2 full , 1 half
Listing Agent

Movil Realty

Listing Agent's Description

Beautiful, completely renovated, 4 bedroom ranch on corner lot with new windows! Will have a back deck and front driveway in the coming days. This is a must-see! Formal measurements and photos to be added next week.

SEE MORE

MARKET HIGHLIGHTS

  • Major employers in Raleigh area: IBM, Cisco systems, Fidelity Investments, GlaxoSmithKline, RTI International
  • One of Top 10 cities for Small Business Friendliness (Thumbtack, 2018)
  • #7 Best Big City for Jobs 2018 (Forbes, 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: Ed Cook

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $61k372k

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

Neighborhood: Ed Cook

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q28009001000110012001300140015001600Rent in $7261690

* 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
Bethesda Elementary School Primary Regular 671 43 3
Lowe's Grove Magnet Middle School Middle Regular 708 47 3
Hillside High School High Regular 1,318 91 4

Bethesda Elementary School

  • Education Level: Primary
  • # of students: 671
  • # of teachers: 43
3
GreatSchools Rating

Lowe's Grove Magnet Middle School

  • Education Level: Middle
  • # of students: 708
  • # of teachers: 47
3
GreatSchools Rating

Hillside High School

  • Education Level: High
  • # of students: 1,318
  • # of teachers: 91
4
GreatSchools Rating
 

$206,799$252,755$229,777

PURCHASE PRICE

$1,260$1,540$1,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,400
EXPENSES Loan Payment -$848
Property Tax -$199
Property Insurance -$55
Property Management Fees -$119
CASH FLOW
$179

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.

$229,777

PROJECTED PRICE

$1,400

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.28%
Appreciation Year (1-5) 4.8%
Maintenance Year (1-5) 8.00%
Vacancy 8.55%
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$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

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$66,641

INVESTMENT

$66,641

Down Payment
$57,444
Rehab Estimate
$5,750
Closing Costs
$3,447

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$848

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $57,444
Loan Amount $172,333
See What Happens When You Reinvest Cash Flow

9.75

YEARS SAVED

$37,394

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,400

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $1,534

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$1,295
1$1,2952$1,3503$1,400
$1,400
RENT COMPS ANALYSIS
  • 1314 Ed Cook Road Durham, NC 3
    • 4 beds 3 baths ∙ 1,434 Sqft ∙ Built 1964 4 beds 3 baths ∙ 1,434 Sqft ∙ Built 1964
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.98
    •  
  • 1305 Bacon Street Durham, NC 1
    • 3 beds 2 baths ∙ 1,190 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,190 Sqft ∙ Built 1972
    property image
    LEASED 08/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $1.09
    •  
  • 1315 Hearthside Street Durham, NC 2
    • 4 beds 3 baths ∙ 1,280 Sqft ∙ Built 1969 4 beds 3 baths ∙ 1,280 Sqft ∙ Built 1969
    property image
    LEASED 08/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.05
    •  
PROPERTY LISTING DETAILS
Laura Garcia
1.910.635.6787
Movil Realty
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2359098
Last Updated: 12/27/2020
BESbswy