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1406 Copper Creek Drive Durham, NC 27713

3 Beds 3 Baths 1,660 sqft Built 2002

$280,000

List Price

$1,550

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $168.67
  • 3 Days on Market
  • MLS # : 2365333
  • Updated Date : 02/06/2021 at 03:10
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,660 sqft
  • Baths : 2 full , 1 half
Listing Agent

Fonville Morisey/wake Forest Sales Office

Listing Agent's Description

Incredibly maintained home in Copper Creek SD! Offers 3 BR's 2.5 BA's, kitchen with granite/subway tile backsplash/all appliances, family room with fireplace, separate dining area, spacious master/master bath, laundry room, and 2 car garage. Features include Pergo floors on main level, powder room, separate WIC's in master, stone paver patio, and newly fenced yard. Please see REMARKS for possession.

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)
  • 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)
  • #7 Best Big City for Jobs 2018 (Forbes, 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

Zip Code: 27713

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $106k303k

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

Zip Code: 27713

ZipNIR Market*CityMarket2010Year2000 Q22019 Q290010001100120013001400150016001700Rent in $8591734

* 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
Parkwood Elementary School Primary Regular 585 38 5
Lowe's Grove Magnet Middle School Middle Regular 708 47 3
Hillside High School High Regular 1,318 91 4

Parkwood Elementary School

  • Education Level: Primary
  • # of students: 585
  • # of teachers: 38
5
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
 

$252,000$308,000$280,000

PURCHASE PRICE

$1,395$1,705$1,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,550
EXPENSES Loan Payment -$973
Property Tax -$243
Property Insurance -$59
HOA -$42
Property Management Fees -$119
CASH FLOW
$115

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.

$280,000

PROJECTED PRICE

$1,550

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.42%
Appreciation Year (1-5) 4.6%
Maintenance Year (1-5) 8.00%
Vacancy 8.51%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

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

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$79,950

INVESTMENT

$79,950

Down Payment
$70,000
Rehab Estimate
$5,750
Closing Costs
$4,200

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$973

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $70,000
Loan Amount $210,000
See What Happens When You Reinvest Cash Flow

6.83

YEARS SAVED

$23,150

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,550

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,594

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,5953$1,5984$1,6255$1,650
$1,650
RENT COMPS ANALYSIS
  • 1406 Copper Creek Drive Durham, NC 1
    • 3 beds 3 baths ∙ 1,660 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,660 Sqft ∙ Built 2002
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.93
    •  
  • 1006 Red Hat Lane Durham, NC 2
    • 3 beds 3 baths ∙ 1,748 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,748 Sqft ∙ Built 2002
    property image
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.91
    •  
  • 1002 Red Hat Lane Durham, NC 3
    • 3 beds 3 baths ∙ 1,673 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,673 Sqft ∙ Built 2002
    property image
    LEASED 02/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,598
    • $0.96
    •  
  • 1414 Copper Creek Drive Durham, NC 4
    • 3 beds 3 baths ∙ 1,675 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,675 Sqft ∙ Built 2002
    property image
    LEASED 06/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.97
    •  
  • 1104 Mallory Lane Durham, NC 5
    • 3 beds 3 baths ∙ 1,650 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,650 Sqft ∙ Built 2003
    property image
    LEASED 04/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.00
    •  
PROPERTY LISTING DETAILS
Donna Thompson
1.252.430.9410
Fonville Morisey/wake Forest Sales Office
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2365333
Last Updated: 02/06/2021
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