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1808 Crag Burn Lane Raleigh, NC 27604

3 Beds 3 Baths 1,509 sqft Built 1998

$250,000

List Price

$1,450

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

February 10, 2021 RECENTLY ADDED
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

MARKET HIGHLIGHTS

  • 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

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $114k277k

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

Neighborhood: Hedingham

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q29001000110012001300140015001600Rent in $8401630

* 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
Beaverdam Elementary School Primary Unknown NA
River Bend Middle School Middle Unknown NA
Knightdale High School High Regular 1,672 99 2

Beaverdam Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

River Bend Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Knightdale High School

  • Education Level: High
  • # of students: 1,672
  • # of teachers: 99
2
GreatSchools Rating
 

$225,000$275,000$250,000

PURCHASE PRICE

$1,305$1,595$1,450

RENT

DOWN PAYMENT
FINANCING

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

ASSUMPTIONS

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
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$72,000

INVESTMENT

$72,000

Down Payment
$62,500
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$868

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $62,500
Loan Amount $187,500
See What Happens When You Reinvest Cash Flow

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
$1,350
1$1,3502$1,4003$1,4504$1,4505$1,645
$1,645
RENT COMPS ANALYSIS
  • 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
George Wilson
1.919.439.0965
Raleigh Cary Realty Inc.
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2365984
Last Updated: 02/12/2021
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