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1418 Cedar Branch Court Wake Forest, NC 27587

3 Beds 3 Baths 1,500 sqft Built 1989

$259,000

List Price

$1,430

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $172.67
  • 3 Days on Market
  • MLS # : 2362899
  • Updated Date : 01/23/2021 at 13:57
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,500 sqft
  • Baths : 2 full , 1 half
Listing Agent

Raleigh Cary Realty Inc.

Listing Agent's Description

*MULTIPLE OFFERS - Highest & best by 1/24 5pm* Newly updated hm in desirable pool & tennis community. Situated toward end of quiet street. Walking distance to pool. Conveniently located close to restaurants, retail & grocery stores- new Wegmans under construction. Newly painted interior & exterior. New upgraded LVP flooring throughout, tile in kitchen, updated light fixtures, stainless steel appliances, granite CT in all bathrooms & new plumbing fixtures, LG covered porch, deck & backyard w/ fire pit.

SEE MORE

MARKET HIGHLIGHTS

  • 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
  • Major employers in Raleigh area: IBM, Cisco systems, Fidelity Investments, GlaxoSmithKline, RTI International
  • One of Top 10 cities for Small Business Friendliness (Thumbtack, 2018)

PRICE & RENT TRENDS

Neighborhood: Cimarron Forest Point

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $104k358k

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

Neighborhood: Cimarron Forest Point

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q29001000110012001300140015001600170018001900Rent in $8161937

* 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
Forest Pines Elementary School Primary Regular 672 45 6
Wake Forest Middle School Middle Regular 1,021 60 4
Heritage High School High Regular 1,910 107 7

Forest Pines Elementary School

  • Education Level: Primary
  • # of students: 672
  • # of teachers: 45
6
GreatSchools Rating

Wake Forest Middle School

  • Education Level: Middle
  • # of students: 1,021
  • # of teachers: 60
4
GreatSchools Rating

Heritage High School

  • Education Level: High
  • # of students: 1,910
  • # of teachers: 107
7
GreatSchools Rating
 

$233,100$284,900$259,000

PURCHASE PRICE

$1,287$1,573$1,430

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,430
EXPENSES Loan Payment -$900
Property Tax -$205
Property Insurance -$56
HOA -$42
Property Management Fees -$119
CASH FLOW
$108

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.

$259,000

PROJECTED PRICE

$1,430

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 4.1%
Maintenance Year (1-5) 8.00%
Vacancy 7.49%
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

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$74,385

INVESTMENT

$74,385

Down Payment
$64,750
Rehab Estimate
$5,750
Closing Costs
$3,885

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$900

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $64,750
Loan Amount $194,250
See What Happens When You Reinvest Cash Flow

7.67

YEARS SAVED

$25,389

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,430

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,305

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,3003$1,4304$1,435
$1,435
RENT COMPS ANALYSIS
  • 1418 Cedar Branch Court Wake Forest, NC 3
    • 3 beds 3 baths ∙ 1,500 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,500 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $1,430
    • $0.95
    •  
  • 10016 Ligon Mill Road Wake Forest, NC 1
    • 3 beds 3 baths ∙ 1,568 Sqft ∙ Built 1996 3 beds 3 baths ∙ 1,568 Sqft ∙ Built 1996
    LEASED 08/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.83
    •  
  • 309 Tillamook Drive Wake Forest, NC 2
    • 3 beds 3 baths ∙ 1,470 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,470 Sqft ∙ Built 1997
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.88
    •  
  • 716 Lakeview Avenue Wake Forest, NC 4
    • 3 beds 3 baths ∙ 1,600 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,600 Sqft ∙ Built 2000
    LEASED 01/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,435
    • $0.90
    •  
PROPERTY LISTING DETAILS
Lanni Hatfield
1.919.623.1680
Raleigh Cary Realty Inc.
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2362899
Last Updated: 01/23/2021
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