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
- Multi Family Home
- Built In 1920
- Price/Sqft : $155.41
- 36 Days on Market
- MLS # : 2359868
- Updated Date : 01/03/2021 at 22:18
CONSTRUCTION
- Beds : 4
- Floor Size : 2,220 sqft
- Baths : 3 full
Listing Agent
Movil Realty
Listing Agent's Description
Tri-plex Near NC Central University! Less than a mile from NC-147 (Durham Freeway). Vinyl siding, side entry parking pad. Refrigerator and range in all units. In good shape property. Property is being sold as-is. Great investor opportunity. Movil Realty does not hold earnest money. Same owner selling next door property 1507 Fayetteville st, Durham, NC 27707.
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
Zip Code: 27707
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 27707
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,475 |
| EXPENSES | Loan Payment | -$1,198 |
| Property Tax | -$326 | |
| Property Insurance | -$70 | |
| HOA | -$155 | |
| Property Management Fees | -$357 | |
|
CASH FLOW
$369
|
||
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.
$345,000
PROJECTED PRICE
$2,475
PROJECTED RENT
0.72%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.11% |
| Appreciation Year (1-5) | 3.6% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 8.54% |
| 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
$102,925
LOAN DETAILS
$1,198
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $86,250 |
| Loan Amount | $258,750 |
10.75
YEARS SAVED
$54,283
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
YOUR SOLUTIONS MANAGER
Please Contact Your Solutions Manager
To review the detailed price and rent comps for this property and answer any questions you may have.
PROPERTY LISTING DETAILS
1.631.860.8678
Movil Realty
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
MLS #: 2359868
Last Updated: 01/03/2021
