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PROPERTY INFO
FACTS
- Single Family
- Built In 1990
- Price/Sqft : $165.76
- 8 Days on Market
- MLS # : 2359841
- Updated Date : 01/07/2021 at 13:47
CONSTRUCTION
- Beds : 3
- Floor Size : 1,659 sqft
- Baths : 2 full , 1 half
Listing Agent
Aimee Anderson & Associates
Listing Agent's Description
Awesome Downstairs Master Bedroom Floorplan in Popular Hedingham. Corner lot home. Foyer leads to formal dining room that would make great office, large picture window. This area flows into eat in kitchen that has granite, backsplash, nice cabinets. 2 Story family room off kitchen has fireplace. Master retreat, garden tub, sep. shower, dual sink, w/in closet. Upstairs are 2 great size Jack & Jill bedroom. Huge screened porch to enjoy level backyard. 2 pools, FREE GOLF, tennis, parks, athletic center.
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
Neighborhood: Hedingham
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Hedingham
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,460 |
| EXPENSES | Loan Payment | -$955 |
| Property Tax | -$203 | |
| Property Insurance | -$60 | |
| HOA | -$55 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$69
|
||
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.
$275,000
PROJECTED PRICE
$1,460
PROJECTED RENT
0.53%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.78% |
| Appreciation Year (1-5) | 5.8% |
| 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
$78,625
LOAN DETAILS
$955
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $68,750 |
| Loan Amount | $206,250 |
6.92
YEARS SAVED
$22,648
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,460
LIST RENT -
$0.88
LIST RENT PER SQFT
-
$1,461
COMP ESTIMATED VALUE -
$0.88
COMP AVG. RENT PER SQFT
Comps Range
-
1709 Oak Tree Way Raleigh, NC 5
- 3 beds 3 baths ∙ 1,660 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,660 Sqft ∙ Built 1990
- Rent
- Rent Per SQFT
- $1,460
- $0.88
-
4952 Harbour Towne Drive Raleigh, NC 1
- 3 beds 3 baths ∙ 1,620 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,620 Sqft ∙ Built 1990
LEASED 11/06/20- Rent
- Rent Per SQFT
- $1,350
- $0.83
-
1940 Crag Burn Lane Raleigh, NC 2
- 3 beds 3 baths ∙ 1,527 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,527 Sqft ∙ Built 1997
LEASED 02/14/20- Rent
- Rent Per SQFT
- $1,400
- $0.92
-
5017 Royal Dornoch Drive Raleigh, NC 3
- 3 beds 3 baths ∙ 1,655 Sqft ∙ Built 1993 3 beds 3 baths ∙ 1,655 Sqft ∙ Built 1993
LEASED 07/17/20- Rent
- Rent Per SQFT
- $1,400
- $0.85
-
5124 Royal Dornoch Drive Raleigh, NC 4
- 3 beds 3 baths ∙ 1,584 Sqft ∙ Built 1994 3 beds 3 baths ∙ 1,584 Sqft ∙ Built 1994
LEASED 11/16/20- Rent
- Rent Per SQFT
- $1,450
- $0.92
PROPERTY LISTING DETAILS
1.919.274.9111
Aimee Anderson & Associates
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
MLS #: 2359841
Last Updated: 01/07/2021
