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1423 Copper Creek Drive Durham, NC 27713

3 Beds 3 Baths 1,443 sqft Built 2002

$260,000

List Price

$1,450

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

January 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $180.18
  • 4 Days on Market
  • MLS # : 2361694
  • Updated Date : 01/16/2021 at 15:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,443 sqft
  • Baths : 2 full , 1 half
Listing Agent

Nest Realty Of The Triangle

Listing Agent's Description

Embrace the fullness of SoDu life with so-much-so-close: play with the pup at Pineywood dog park, wander over to Nantucket for a meal on the courtyard, roll down the ATT to Southpoint on a Sunday, or kick back at the neighborhood pool. After a full day and a full heart taking in all things Durham, sink into the sofa and admire Pinterest-worthy space with a warmth that welcomes a glass of wine + a good book. Relax and smile...so much has already been done; now just focus on the things that really matter.

SEE MORE

MARKET HIGHLIGHTS

  • Major employers in Raleigh area: IBM, Cisco systems, Fidelity Investments, GlaxoSmithKline, RTI International
  • #7 Best Big City for Jobs 2018 (Forbes, 2018)
  • 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

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
 

$234,000$286,000$260,000

PURCHASE PRICE

$1,305$1,595$1,450

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,450
EXPENSES Loan Payment -$903
Property Tax -$225
Property Insurance -$55
HOA -$42
Property Management Fees -$119
CASH FLOW
$106

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.

$260,000

PROJECTED PRICE

$1,450

PROJECTED RENT

0.56%

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$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

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$74,650

INVESTMENT

$74,650

Down Payment
$65,000
Rehab Estimate
$5,750
Closing Costs
$3,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$903

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $65,000
Loan Amount $195,000
See What Happens When You Reinvest Cash Flow

6.75

YEARS SAVED

$21,375

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,450

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $1,454

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,4953$1,5254$1,5505$1,700
$1,700
RENT COMPS ANALYSIS
  • 1423 Copper Creek Drive Durham, NC 1
    • 3 beds 3 baths ∙ 1,443 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,443 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.00
    •  
  • 1102 Mallory Lane Durham, NC 2
    • 3 beds 3 baths ∙ 1,603 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,603 Sqft ∙ Built 2003
    LEASED 06/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.93
    •  
  • 6009 Coronado Lane Durham, NC 3
    • 4 beds 3 baths ∙ 1,544 Sqft ∙ Built 2000 4 beds 3 baths ∙ 1,544 Sqft ∙ Built 2000
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.99
    •  
  • 1310 Copper Creek Drive Durham, NC 4
    • 3 beds 3 baths ∙ 1,460 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,460 Sqft ∙ Built 2001
    LEASED 12/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.06
    •  
  • 5804 Mountain Island Drive Durham, NC 5
    • 3 beds 3 baths ∙ 1,620 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,620 Sqft ∙ Built 1997
    LEASED 11/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.05
    •  
PROPERTY LISTING DETAILS
Brandon Jozwiak
1.919.530.0117
Nest Realty Of The Triangle
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2361694
Last Updated: 01/16/2021
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