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
REQUEST INFO
SCHEDULE APPOINTMENT
It's free, with no obligation
PROPERTY INFO
FACTS
- Single Family
- Built In 1984
- Price/Sqft : $152.83
- 4 Days on Market
- MLS # : 2360530
- Updated Date : 01/07/2021 at 21:30
CONSTRUCTION
- Beds : 4
- Floor Size : 1,891 sqft
- Baths : 2 full , 1 half
Listing Agent
Keller Williams Realty United
Listing Agent's Description
Rare gem— fully renovated with all new flooring, updated bathrooms & fresh paint. Brand new kitchen featuring stainless steel appliances, subway tile backsplash & granite counters. Owners’ suite boasts a spacious closet, dual vanities, as well as a luxurious walk-in tiled shower. 3 more bedrooms round out the 2nd floor. Enjoy your morning coffee on the rocking chair front porch or relax on the new stone patio overlooking wooded views. Great location close to parks, trails, shops & Duke. 3D Virtual Tour!
SEE MORE
- 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
Neighborhood: Scarsdale Village
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Scarsdale Village
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,680 |
| EXPENSES | Loan Payment | -$1,004 |
| Property Tax | -$250 | |
| Property Insurance | -$64 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$243
|
||
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.
$289,000
PROJECTED PRICE
$1,680
PROJECTED RENT
0.58%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.28% |
| Appreciation Year (1-5) | 7.1% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 8.55% |
| 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
$82,335
LOAN DETAILS
$1,004
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $72,250 |
| Loan Amount | $216,750 |
10
YEARS SAVED
$41,763
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,680
LIST RENT -
$0.89
LIST RENT PER SQFT
-
$1,349
COMP ESTIMATED VALUE -
$0.71
COMP AVG. RENT PER SQFT
Comps Range
-
1418 Rowemont Drive Durham, NC 4
- 4 beds 3 baths ∙ 1,891 Sqft ∙ Built 1984 4 beds 3 baths ∙ 1,891 Sqft ∙ Built 1984
- Rent
- Rent Per SQFT
- $1,680
- $0.89
-
1319 Cherrycrest Drive Durham, NC 1
- 4 beds 4 baths ∙ 2,166 Sqft ∙ Built 1984 4 beds 4 baths ∙ 2,166 Sqft ∙ Built 1984
LEASED 01/01/21- Rent
- Rent Per SQFT
- $1,300
- $0.60
-
5210 Partridge Street Durham, NC 2
- 4 beds 3 baths ∙ 1,872 Sqft ∙ Built 1968 4 beds 3 baths ∙ 1,872 Sqft ∙ Built 1968
LEASED 12/03/19- Rent
- Rent Per SQFT
- $1,350
- $0.72
-
2210 Elk River Drive Durham, NC 3
- 3 beds 3 baths ∙ 1,764 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,764 Sqft ∙ Built 2004
LEASED 10/24/20- Rent
- Rent Per SQFT
- $1,450
- $0.82
PROPERTY LISTING DETAILS
1.919.260.6240
Keller Williams Realty United
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
MLS #: 2360530
Last Updated: 01/07/2021
