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PROPERTY INFO
FACTS
- Single Family
- Built In 1985
- Price/Sqft : $142.86
- 2 Days on Market
- MLS # : 2358656
- Updated Date : 12/19/2020 at 22:11
CONSTRUCTION
- Beds : 3
- Floor Size : 1,925 sqft
- Baths : 2 full , 1 half
Listing Agent
Re/max United
Listing Agent's Description
Priced to sell in great Cary neighborhood. Walk to Trader Joes! On the greenway. Great fenced in backyard. Large kitchen . Hardwood floors in the dining room, family room and foyer. Beautiful crown molding throughout. Brick fireplace in family New deck, hvac, water heater. Roof less than 10 years old. Needs work, but priced accordingly>
SEE MORE
- 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
- #7 Best Big City for Jobs 2018 (Forbes, 2018)
- 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: Farren Forest
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Farren Forest
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,780 |
| EXPENSES | Loan Payment | -$1,015 |
| Property Tax | -$270 | |
| Property Insurance | -$65 | |
| HOA | -$28 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$284
|
||
This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 16% of earned rent to cover both maintenance and periods of vacancy.
$275,000
PROJECTED PRICE
$1,780
PROJECTED RENT
0.65%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.33% |
| Appreciation Year (1-5) | 7.0% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 7.51% |
| 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
$78,625
LOAN DETAILS
$1,015
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $68,750 |
| Loan Amount | $206,250 |
11.42
YEARS SAVED
$54,633
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,780
LIST RENT -
$0.92
LIST RENT PER SQFT
-
$1,800
COMP ESTIMATED VALUE -
$0.93
COMP AVG. RENT PER SQFT
Comps Range
-
143 Brannigan Place Cary, NC 3
- 3 beds 3 baths ∙ 1,925 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,925 Sqft ∙ Built 1985
- Rent
- Rent Per SQFT
- $1,780
- $0.92
-
111 Kylie Savannah Court Cary, NC 1
- 3 beds 2 baths ∙ 1,717 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,717 Sqft ∙ Built 2000
LEASED 07/01/20- Rent
- Rent Per SQFT
- $1,595
- $0.93
-
1404 Coral Court Cary, NC 2
- 4 beds 4 baths ∙ 1,786 Sqft ∙ Built 1977 4 beds 4 baths ∙ 1,786 Sqft ∙ Built 1977
LEASED 02/27/20- Rent
- Rent Per SQFT
- $1,695
- $0.95
-
313 Farmington Woods Drive Cary, NC 4
- 3 beds 2 baths ∙ 2,050 Sqft ∙ Built 1978 3 beds 2 baths ∙ 2,050 Sqft ∙ Built 1978
LEASED 07/01/20- Rent
- Rent Per SQFT
- $1,795
- $0.88
-
110 Brannigan Place Cary, NC 5
- 3 beds 3 baths ∙ 1,991 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,991 Sqft ∙ Built 1985
LEASED 09/08/20- Rent
- Rent Per SQFT
- $1,950
- $0.98
PROPERTY LISTING DETAILS
1.919.601.4478
Re/max United
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
MLS #: 2358656
Last Updated: 12/19/2020
