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PROPERTY INFO
FACTS
- Single Family
- Built In 1994
- Price/Sqft : $180.98
- 3 Days on Market
- MLS # : 2361870
- Updated Date : 01/15/2021 at 20:21
CONSTRUCTION
- Beds : 3
- Floor Size : 1,199 sqft
- Baths : 2 full
Listing Agent
Opendoor Brokerage Llc
Listing Agent's Description
This Archer Lodge home has one story. This home is vacant and cleaned regularly.
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
- Major employers in Raleigh area: IBM, Cisco systems, Fidelity Investments, GlaxoSmithKline, RTI International
- #7 Best Big City for Jobs 2018 (Forbes, 2018)
- One of Top 10 cities for Small Business Friendliness (Thumbtack, 2018)
PRICE & RENT TRENDS
Neighborhood: Virginia Downs
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Virginia Downs
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,150 |
| EXPENSES | Loan Payment | -$754 |
| Property Tax | -$164 | |
| Property Insurance | -$51 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$63
|
||
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.
$217,000
PROJECTED PRICE
$1,150
PROJECTED RENT
0.53%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.78% |
| Appreciation Year (1-5) | 3.6% |
| 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
$63,255
LOAN DETAILS
$754
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $54,250 |
| Loan Amount | $162,750 |
7.33
YEARS SAVED
$19,290
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,150
LIST RENT -
$0.96
LIST RENT PER SQFT
-
$1,127
COMP ESTIMATED VALUE -
$0.94
COMP AVG. RENT PER SQFT
Comps Range
-
18 Richmond Drive Archer Lodge, NC 1
- 3 beds 2 baths ∙ 1,199 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,199 Sqft ∙ Built 1994
- Rent
- Rent Per SQFT
- $1,150
- $0.96
-
107 Campen Court Clayton, NC 2
- 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 2001
LEASED 12/15/19- Rent
- Rent Per SQFT
- $1,350
- $0.93
-
25 Denby Circle Clayton, NC 3
- 3 beds 2 baths ∙ 1,449 Sqft ∙ Built 2012 3 beds 2 baths ∙ 1,449 Sqft ∙ Built 2012
LEASED 06/01/20- Rent
- Rent Per SQFT
- $1,375
- $0.95
PROPERTY LISTING DETAILS
1.919.679.9883
Opendoor Brokerage Llc
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
MLS #: 2361870
Last Updated: 01/15/2021
