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

1637 Kildonan Place Cary, NC 27511

3 Beds 4 Baths 2,354 sqft Built 1978

$300,000

List Price

$1,730

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1978
  • Price/Sqft : $127.44
  • 3 Days on Market
  • MLS # : 2371846
  • Updated Date : 03/13/2021 at 09:19
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,354 sqft
  • Baths : 2 full , 2 half
Listing Agent

Coldwell Banker Advantage

Listing Agent's Description

Awesome cul-de-sac/ walk-out basement home in Macdonald Woods in Cary. Did I mention no HOA fees? Fenced/wooded backyard oasis with swimming pool and decks galore. Adjoins Pirates Cove Greenway. Walk to MacDonald Woods Park. Large finished basement with the flexibility to meet your office/ game room/ fitness room needs. Coffee station/wine rack in kitchen. Bathrooms on every floor. 1 car garage and large storage shed. Convenient to everything. Come checkout this lifestyle opportunity. Fridge, W&D convey.

SEE MORE

MARKET HIGHLIGHTS

  • 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: MacDonalds Woods

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $140k385k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: MacDonalds Woods

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q29001000110012001300140015001600170018001900Rent in $8911978

* 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
Farmington Woods Elementary School Primary Magnet 787 52 6
Reedy Creek Middle School Middle Regular 829 52 3
Cary High School High Regular 2,396 135 7

Farmington Woods Elementary School

  • Education Level: Primary
  • # of students: 787
  • # of teachers: 52
6
GreatSchools Rating

Reedy Creek Middle School

  • Education Level: Middle
  • # of students: 829
  • # of teachers: 52
3
GreatSchools Rating

Cary High School

  • Education Level: High
  • # of students: 2,396
  • # of teachers: 135
7
GreatSchools Rating
 

$270,000$330,000$300,000

PURCHASE PRICE

$1,557$1,903$1,730

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,730
EXPENSES Loan Payment -$1,042
Property Tax -$244
Property Insurance -$73
Property Management Fees -$119
CASH FLOW
$252

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.

$300,000

PROJECTED PRICE

$1,730

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,042

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $75,000
Loan Amount $225,000
See What Happens When You Reinvest Cash Flow

10.5

YEARS SAVED

$45,929

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,730

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $1,866

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,7003$1,7304$1,8905$2,295
$2,295
RENT COMPS ANALYSIS
  • 1637 Kildonan Place Cary, NC 3
    • 3 beds 4 baths ∙ 2,354 Sqft ∙ Built 1978 3 beds 4 baths ∙ 2,354 Sqft ∙ Built 1978
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,730
    • $0.73
    •  
  • 1600 Walnut Street Cary, NC 1
    • 3 beds 2 baths ∙ 2,100 Sqft ∙ Built 1960 3 beds 2 baths ∙ 2,100 Sqft ∙ Built 1960
    property image
    LEASED 10/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.76
    •  
  • 104 Kirkfield Drive Cary, NC 2
    • 4 beds 3 baths ∙ 2,250 Sqft ∙ Built 1986 4 beds 3 baths ∙ 2,250 Sqft ∙ Built 1986
    property image
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.76
    •  
  • 304 Heidinger Drive Cary, NC 4
    • 4 beds 4 baths ∙ 2,400 Sqft ∙ Built 1985 4 beds 4 baths ∙ 2,400 Sqft ∙ Built 1985
    property image
    LEASED 09/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,890
    • $0.79
    •  
  • 113 E Camden Forest Drive Cary, NC 5
    • 4 beds 3 baths ∙ 2,660 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,660 Sqft ∙ Built 1998
    property image
    LEASED 11/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.86
    •  
PROPERTY LISTING DETAILS
Aaron Chaney
1.910.742.2179
Coldwell Banker Advantage
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2371846
Last Updated: 03/13/2021
BESbswy