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PROPERTY INFO
FACTS
- Single Family
- Built In 1995
- Price/Sqft : $157.41
- 2 Days on Market
- MLS # : 2367968
- Updated Date : 02/20/2021 at 23:08
CONSTRUCTION
- Beds : 3
- Floor Size : 1,404 sqft
- Baths : 2 full
Listing Agent
8th Day Realty Group Llc
Listing Agent's Description
COMING SOON: Secluded 3BR 2BA Ranch home with 2 car attached oversized garage on nearly 1 acre and no HOA! Covered wrapped porch with relaxing views. A large rear deck in fenced in back yard perfect for entertaining. Fantastic floor plan with large eat in kitchen with Travertine floors Freshly painted rooms, new carpet, and wood burning fire place in living room. New gutters, and water heater. Hardwood floors in bedroom and halls. Large primary suite with walk in closet, ceramic tile in bathrooms.
SEE MORE
- 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
- #7 Best Big City for Jobs 2018 (Forbes, 2018)
- Major employers in Raleigh area: IBM, Cisco systems, Fidelity Investments, GlaxoSmithKline, RTI International
PRICE & RENT TRENDS
Neighborhood: Kings Ridge
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Kings Ridge
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,250 |
| EXPENSES | Loan Payment | -$768 |
| Property Tax | -$140 | |
| Property Insurance | -$55 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$169
|
||
This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.
$221,000
PROJECTED PRICE
$1,250
PROJECTED RENT
0.57%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.78% |
| Appreciation Year (1-5) | 5.6% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 7.49% |
| 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
$64,315
LOAN DETAILS
$768
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $55,250 |
| Loan Amount | $165,750 |
9.58
YEARS SAVED
$30,173
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,250
LIST RENT -
$0.89
LIST RENT PER SQFT
-
$1,254
COMP ESTIMATED VALUE -
$0.89
COMP AVG. RENT PER SQFT
Comps Range
-
168 D A King Drive Willow Spring(s), NC 4
- 3 beds 2 baths ∙ 1,404 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,404 Sqft ∙ Built 1995
- Rent
- Rent Per SQFT
- $1,250
- $0.89
-
135 Pebblestone Court Willow Spring(s), NC 1
- 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1999
LEASED 03/01/20- Rent
- Rent Per SQFT
- $1,100
- $0.92
-
21 Pine Bluff Court Willow Spring(s), NC 2
- 3 beds 3 baths ∙ 1,400 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,400 Sqft ∙ Built 2004
LEASED 09/13/19- Rent
- Rent Per SQFT
- $1,200
- $0.86
-
2095 White Memorial Church Road Willow Spring(s), NC 3
- 3 beds 2 baths ∙ 1,387 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,387 Sqft ∙ Built 1992
LEASED 11/22/19- Rent
- Rent Per SQFT
- $1,250
- $0.90
PROPERTY LISTING DETAILS
1.919.670.3298
8th Day Realty Group Llc
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
MLS #: 2367968
Last Updated: 02/20/2021
