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1713 Avondale Drive Durham, NC 27701

4 Beds 3 Baths 1,596 sqft Built 1947

$269,900

List Price

$1,490

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

February 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1947
  • Price/Sqft : $169.11
  • 4 Days on Market
  • MLS # : 2365104
  • Updated Date : 02/04/2021 at 21:32
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,596 sqft
  • Baths : 2 full , 1 half
Listing Agent

Trammel Brothers Inc.

Listing Agent's Description

Traditional 2-Story Home in the Heart of Durham!! Fabulous Location with Private Entrance off Shawnee Street. MBR on 1st Floor w/bathroom. Three Additional Bedrooms on second floor. Hardwood Floors @ ALL bedrooms, Kitchen and LR. Updated Kitchen. Masonry Fireplace. New Roof and New Water Heater. Balcony overlooks Fenced in Back Yard. Covered Porch. Brick Patio. Low Maintenance Brick & Vinyl Exterior. Be close to it All: Duke, Downtown Durham, Parks, Dining + Easy Interstate Access.

SEE MORE

MARKET HIGHLIGHTS

  • 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: Duke Park

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280k300kPrice in $61k315k

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

Neighborhood: Duke Park

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2700800900100011001200130014001500Rent in $6861556

* 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
Eastway Elementary School Primary Regular 610 43 1
Lucas Middle School Middle Regular 658 43 2
Northern High School High Regular 1,448 83 3

Eastway Elementary School

  • Education Level: Primary
  • # of students: 610
  • # of teachers: 43
1
GreatSchools Rating

Lucas Middle School

  • Education Level: Middle
  • # of students: 658
  • # of teachers: 43
2
GreatSchools Rating

Northern High School

  • Education Level: High
  • # of students: 1,448
  • # of teachers: 83
3
GreatSchools Rating
 

$242,910$296,890$269,900

PURCHASE PRICE

$1,341$1,639$1,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,490
EXPENSES Loan Payment -$937
Property Tax -$234
Property Insurance -$58
Property Management Fees -$119
CASH FLOW
$142

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.

$269,900

PROJECTED PRICE

$1,490

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.28%
Appreciation Year (1-5) 9.9%
Maintenance Year (1-5) 8.00%
Vacancy 8.55%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

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$77,274

INVESTMENT

$77,274

Down Payment
$67,475
Rehab Estimate
$5,750
Closing Costs
$4,049

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$937

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $67,475
Loan Amount $202,425
See What Happens When You Reinvest Cash Flow

8.5

YEARS SAVED

$30,564

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,490

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,623

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,200
1$1,2002$1,3003$1,4904$1,575
$1,575
RENT COMPS ANALYSIS
  • 1713 Avondale Drive Durham, NC 3
    • 4 beds 3 baths ∙ 1,596 Sqft ∙ Built 1947 4 beds 3 baths ∙ 1,596 Sqft ∙ Built 1947
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,490
    • $0.93
    •  
  • 313 Raynor Street Durham, NC 1
    • 3 beds 1 baths ∙ 1,268 Sqft ∙ Built 1955 3 beds 1 baths ∙ 1,268 Sqft ∙ Built 1955
    property image
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.95
    •  
  • 410 Macon Street Durham, NC 2
    • 4 beds 2 baths ∙ 1,322 Sqft ∙ Built 1930 4 beds 2 baths ∙ 1,322 Sqft ∙ Built 1930
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.98
    •  
  • 1156 Fiske Street Durham, NC 4
    • 4 beds 2 baths ∙ 1,408 Sqft ∙ Built 1959 4 beds 2 baths ∙ 1,408 Sqft ∙ Built 1959
    property image
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $1.12
    •  
PROPERTY LISTING DETAILS
Ashley Trammel
1.919.730.9412
Trammel Brothers Inc.
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2365104
Last Updated: 02/04/2021
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