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PROPERTY INFO
FACTS
- Single Family
- Built In 1965
- Price/Sqft : $162.50
- 3 Days on Market
- MLS # : 2353592
- Updated Date : 11/14/2020 at 13:56
CONSTRUCTION
- Beds : 3
- Floor Size : 1,200 sqft
- Baths : 2 full
Listing Agent
Allen Tate/raleigh-falls Neuse
Listing Agent's Description
Adorable ranch, cute "as a button". LOTS of TLC. Wonderful updates: Roof 2019, furnace 2018, new driveway 2018 & new well pump 2014. Home is connected to city sewer. 1 car carport. Sip your tea & enjoy cookouts while sitting on the large deck. Need space to play? Sought after large, fenced and flat yard that is ideal for pets or kids. Utilize amazing storage in the cute detached garage/ storage shed. Home has no carpet at all, great natural light throughout and cute, cute floorplan!
SEE MORE
- 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
Zip Code: 27703
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 27703
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,090 |
| EXPENSES | Loan Payment | -$719 |
| Property Tax | -$169 | |
| Property Insurance | -$50 | |
| Property Management Fees | -$98 | |
|
CASH FLOW
$53
|
||
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.
$195,000
PROJECTED PRICE
$1,090
PROJECTED RENT
0.56%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.11% |
| Appreciation Year (1-5) | 4.8% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 8.54% |
| 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
$57,425
LOAN DETAILS
$719
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $48,750 |
| Loan Amount | $146,250 |
6.08
YEARS SAVED
$15,842
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,090
LIST RENT -
$0.91
LIST RENT PER SQFT
-
$1,152
COMP ESTIMATED VALUE -
$0.96
COMP AVG. RENT PER SQFT
Comps Range
-
1730 Fletchers Chapel Road Durham, NC 1
- 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1965 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1965
![property image]()
- Rent
- Rent Per SQFT
- $1,090
- $0.91
-
2421 Loftin Drive Durham, NC 2
- 3 beds 1 baths ∙ 1,150 Sqft ∙ Built 1957 3 beds 1 baths ∙ 1,150 Sqft ∙ Built 1957
![property image]()
LEASED 07/01/20- Rent
- Rent Per SQFT
- $1,100
- $0.96
PROPERTY LISTING DETAILS
1.919.610.1696
Allen Tate/raleigh-falls Neuse
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
MLS #: 2353592
Last Updated: 11/14/2020
