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PROPERTY INFO
FACTS
- Single Family
- Built In 1998
- Price/Sqft : $165.67
- 5 Days on Market
- MLS # : 2365984
- Updated Date : 02/12/2021 at 14:37
CONSTRUCTION
- Beds : 3
- Floor Size : 1,509 sqft
- Baths : 2 full , 1 half
Listing Agent
Raleigh Cary Realty Inc.
Listing Agent's Description
Beautifully maintained home on the golf course in Hedingham! Two tiered porch greet you home. Newly painted interior, large family room with fireplace. Eat in kitchen & formal dining room. Owner's suite w/cathedral ceiling, bath with large WIC leading to upstairs porch. Freshly Painted screened porch & patio, perfect to relax & for entertaining. Subdivision has golf course, athletic center & more. Entrance to Neuse River Greenway only 0.2 mi away! New Water Heater in 2019. New roof 2020. Awesome location!
SEE MORE
- 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)
- 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)
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 | $1,450 |
| EXPENSES | Loan Payment | -$868 |
| Property Tax | -$201 | |
| Property Insurance | -$57 | |
| HOA | -$52 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$153
|
||
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.
$250,000
PROJECTED PRICE
$1,450
PROJECTED RENT
0.58%
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
$72,000
LOAN DETAILS
$868
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $62,500 |
| Loan Amount | $187,500 |
8.58
YEARS SAVED
$29,042
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,450
LIST RENT -
$0.96
LIST RENT PER SQFT
-
$1,445
COMP ESTIMATED VALUE -
$0.96
COMP AVG. RENT PER SQFT
Comps Range
-
1808 Crag Burn Lane Raleigh, NC 4
- 3 beds 3 baths ∙ 1,509 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,509 Sqft ∙ Built 1998
- Rent
- Rent Per SQFT
- $1,450
- $0.96
-
1961 Talamore Court Raleigh, NC 1
- 3 beds 3 baths ∙ 1,360 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,360 Sqft ∙ Built 1997
LEASED 12/03/20- Rent
- Rent Per SQFT
- $1,350
- $0.99
-
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
-
5124 Royal Dornoch Drive Raleigh, NC 3
- 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
-
1812 Crag Burn Lane Raleigh, NC 5
- 3 beds 3 baths ∙ 1,650 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,650 Sqft ∙ Built 1998
LEASED 01/30/21- Rent
- Rent Per SQFT
- $1,645
- $1.00
PROPERTY LISTING DETAILS
1.919.439.0965
Raleigh Cary Realty Inc.
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
MLS #: 2365984
Last Updated: 02/12/2021
