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PROPERTY INFO
FACTS
- Single Family
- Built In 2002
- Price/Sqft : $131.35
- 3 Days on Market
- MLS # : 2355428
- Updated Date : 11/27/2020 at 20:47
CONSTRUCTION
- Beds : 3
- Floor Size : 2,284 sqft
- Baths : 2 full , 1 half
Listing Agent
Selling To Give
Listing Agent's Description
Looking for the Impossible Combination of a Well Cared for Home on About an Acre that has Mature Trees, Open Yard Spaces & Wooded area? What if it also had a long driveway, rocking chair front porch, massive screened porch & no HOA? Gorgeous updates inside, Side Entry Garage, Shed+Childs Play House + 25x13 RV/Boat Covered Parking. Private fire pit area nestled in backyard woods overlooks a creek. Bonus Room is currently divided into 2 rooms for lots of options. Impressive Master w/ Double Walk-in Closets
SEE MORE
- 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
- 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)
PRICE & RENT TRENDS
Neighborhood: South Ridge
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: South Ridge
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,670 |
| EXPENSES | Loan Payment | -$1,107 |
| Property Tax | -$193 | |
| Property Insurance | -$72 | |
| Property Management Fees | -$150 | |
|
CASH FLOW
$148
|
||
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.
$300,000
PROJECTED PRICE
$1,670
PROJECTED RENT
0.56%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.78% |
| Appreciation Year (1-5) | 4.9% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 7.49% |
| 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
$85,250
LOAN DETAILS
$1,107
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $75,000 |
| Loan Amount | $225,000 |
7.5
YEARS SAVED
$33,633
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,670
LIST RENT -
$0.73
LIST RENT PER SQFT
-
$1,559
COMP ESTIMATED VALUE -
$0.68
COMP AVG. RENT PER SQFT
Comps Range
-
138 Forest Lane Garner, NC 5
- 3 beds 3 baths ∙ 2,284 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,284 Sqft ∙ Built 2002
- Rent
- Rent Per SQFT
- $1,670
- $0.73
-
51 Iroquois Court Garner, NC 1
- 3 beds 3 baths ∙ 2,200 Sqft ∙ Built 2017 3 beds 3 baths ∙ 2,200 Sqft ∙ Built 2017
LEASED 09/30/19- Rent
- Rent Per SQFT
- $1,495
- $0.68
-
83 Lars Lane Garner, NC 2
- 3 beds 3 baths ∙ 2,182 Sqft ∙ Built 2008 3 beds 3 baths ∙ 2,182 Sqft ∙ Built 2008
LEASED 11/10/19- Rent
- Rent Per SQFT
- $1,495
- $0.69
-
104 Dando Street Garner, NC 3
- 4 beds 3 baths ∙ 2,400 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,400 Sqft ∙ Built 2019
LEASED 12/01/19- Rent
- Rent Per SQFT
- $1,599
- $0.67
-
307 Dando Street Garner, NC 4
- 4 beds 3 baths ∙ 2,400 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,400 Sqft ∙ Built 2020
LEASED 05/10/20- Rent
- Rent Per SQFT
- $1,650
- $0.69
PROPERTY LISTING DETAILS
1.919.812.0150
Selling To Give
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
MLS #: 2355428
Last Updated: 11/27/2020
