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16 Juliette Drive Durham, NC 27713

3 Beds 3 Baths 1,962 sqft Built 2011

INVESTimate

$299,900

List Price

$1,720

$1,548 - $1,892

Rent Est.

$313,635  ( +4.58%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 2011
  • Price/Sqft : $152.85
  • 6 Days on Market
  • MLS # : 2338439
  • Updated Date : 08/25/2020 at 20:31
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,962 sqft
  • Baths : 2 full , 1 half
Listing Agent

Howard Perry & Walston Realtor

Listing Agent's Description

Beautiful bright & open floor plan w/hardwood floors in the main living areas. Spacious family room w/corner gas log fireplace opens to kitchen w/granite counter tops & breakfast bar, stainless steel appliances, pantry & dining area. Master suite w/ walk-in closet, ceiling fan & private bath w/2 sink vanity & walk-in shower. Easy maintenance brick & vinyl exterior. Rocking chair front porch. Patio overlooking large, flat backyard. 2 car garage. Easy access to America Tobacco Trail, shopping & dining.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
 

$269,910$329,890$299,900

PURCHASE PRICE

$1,548$1,892$1,720

RENT

DOWN PAYMENT
FINANCING

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-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,720
EXPENSES Loan Payment -$1,107
Property Tax -$263
Property Insurance -$64
HOA -$150
Property Management Fees -$155
CASH FLOW
-$18

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.

$299,900

PROJECTED PRICE

$1,720

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.42%
Appreciation Year (1-5) 4.58%
Maintenance Year (1-5) 8.00%
Vacancy 8.51%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,224

INVESTMENT

$85,224

Down Payment
$74,975
Rehab Estimate
$5,750
Closing Costs
$4,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $74,975
Loan Amount $224,925
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$10,144

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,720

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,714

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,575
1$1,5752$1,6503$1,7054$1,7205$1,900
$1,900
RENT COMPS ANALYSIS
  • 16 Juliette Drive Durham, 4
    • 3 beds 3 baths ∙ 1,920 Sqft ∙ Built 2011 3 beds 3 baths ∙ 1,920 Sqft ∙ Built 2011
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,720
    • $0.90
    •  
  • 5902 Coronado Lane Durham, 1
    • 3 beds 3 baths ∙ 1,820 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,820 Sqft ∙ Built 2001
    property image
    LEASED 04/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.87
    •  
  • 6 Kilbreth Avenue Durham, 2
    • 3 beds 3 baths ∙ 1,884 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,884 Sqft ∙ Built 1997
    property image
    LEASED 08/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.88
    •  
  • 606 Turmeric Lane Durham, 3
    • 3 beds 3 baths ∙ 1,907 Sqft ∙ Built 2013 3 beds 3 baths ∙ 1,907 Sqft ∙ Built 2013
    property image
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,705
    • $0.89
    •  
  • 4 Bridgeport Drive Durham, 5
    • 3 beds 3 baths ∙ 2,040 Sqft ∙ Built 1992 3 beds 3 baths ∙ 2,040 Sqft ∙ Built 1992
    property image
    LEASED 01/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.93
    •  
PROPERTY LISTING DETAILS
Mark Jackson
1.919.868.3693
Howard Perry & Walston Realtor
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2338439
Last Updated: 08/25/2020
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