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

1329 Swingline Way Raleigh, NC 27610

3 Beds 3 Baths 1,248 sqft Built 2003

$225,000

List Price

$1,160

$1K - $1.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $180.29
  • 4 Days on Market
  • MLS # : 2368748
  • Updated Date : 02/25/2021 at 19:18
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,248 sqft
  • Baths : 2 full , 1 half
Listing Agent

Mark Spain Real Estate

Listing Agent's Description

Location! Location! Location! Only 1 mile from the beltline! Fantastic home complete with new carpet throughout. 3 br 2.5 bath in Williford S/D.

SEE MORE

MARKET HIGHLIGHTS

  • #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)
  • 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: Williford Place

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $105k277k

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

Neighborhood: Williford Place

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q27008009001000110012001300140015001600Rent in $6211630

* 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
Barwell Road Elementary School Primary Regular 798 57 3
F.j. Carnage Gt/aig Magnet Middle School Middle Magnet 1,156 69 5
South Garner High School High Regular NA

Barwell Road Elementary School

  • Education Level: Primary
  • # of students: 798
  • # of teachers: 57
3
GreatSchools Rating

F.j. Carnage Gt/aig Magnet Middle School

  • Education Level: Middle
  • # of students: 1,156
  • # of teachers: 69
5
GreatSchools Rating

South Garner High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$202,500$247,500$225,000

PURCHASE PRICE

$1,044$1,276$1,160

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,160
EXPENSES Loan Payment -$782
Property Tax -$166
Property Insurance -$52
Property Management Fees -$119
CASH FLOW
$42

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.

$225,000

PROJECTED PRICE

$1,160

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$800k

PROJECTED ANNUAL CASH FLOW

11530$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$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$65,375

INVESTMENT

$65,375

Down Payment
$56,250
Rehab Estimate
$5,750
Closing Costs
$3,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$782

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $56,250
Loan Amount $168,750
See What Happens When You Reinvest Cash Flow

6.67

YEARS SAVED

$17,812

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,160

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,190

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,145
1$1,1452$1,1603$1,2954$1,350
$1,350
RENT COMPS ANALYSIS
  • 1329 Swingline Way Raleigh, NC 2
    • 3 beds 3 baths ∙ 1,248 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,248 Sqft ∙ Built 2003
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,160
    • $0.93
    •  
  • 2020 Ranch Mill Circle Raleigh, NC 1
    • 3 beds 2 baths ∙ 1,222 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,222 Sqft ∙ Built 1990
    property image
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,145
    • $0.94
    •  
  • 4405 Viewmont Drive Raleigh, NC 3
    • 3 beds 3 baths ∙ 1,368 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,368 Sqft ∙ Built 1998
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.95
    •  
  • 3025 Bracey Place Raleigh, NC 4
    • 3 beds 3 baths ∙ 1,386 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,386 Sqft ∙ Built 2001
    property image
    LEASED 11/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.97
    •  
PROPERTY LISTING DETAILS
Amy Hiott
1.770.886.9000
Mark Spain Real Estate
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2368748
Last Updated: 02/25/2021
BESbswy