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1908 Tee Dee Street Raleigh, NC 27610

4 Beds 2 Baths 1,760 sqft Built 1967

$215,000

List Price

$1,330

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1967
  • Price/Sqft : $122.16
  • 3 Days on Market
  • MLS # : 2374377
  • Updated Date : 03/26/2021 at 20:12
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,760 sqft
  • Baths : 2 full
Listing Agent

Quality Housing Solutions, Inc

Listing Agent's Description

This lovely ranch style home is located in a well established neighborhood, conveniently located within 5 miles of Downtown Raleigh. Enjoy rocking on the huge covered front porch or relaxing on the enormous deck overlooking the backyard. The home features a spacious den, living room with a wood stove and 4 large bedrooms. Roof and hot water heater replaced in 2017. 2 storage sheds convey with the house. Home is being sold as-is and is ready for your unique touch.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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: Southgate

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $86k277k

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

Neighborhood: Southgate

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q28009001000110012001300140015001600Rent in $7301630

* 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
Walnut Creek Elementary School Primary Regular 818 49 NA
Centennial Campus Middle School Middle Magnet 588 41 4
Southeast Raleigh High School High Magnet 1,538 110 4

Walnut Creek Elementary School

  • Education Level: Primary
  • # of students: 818
  • # of teachers: 49
NA
GreatSchools Rating

Centennial Campus Middle School

  • Education Level: Middle
  • # of students: 588
  • # of teachers: 41
4
GreatSchools Rating

Southeast Raleigh High School

  • Education Level: High
  • # of students: 1,538
  • # of teachers: 110
4
GreatSchools Rating
 

$193,500$236,500$215,000

PURCHASE PRICE

$1,197$1,463$1,330

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,330
EXPENSES Loan Payment -$747
Property Tax -$180
Property Insurance -$62
Property Management Fees -$119
CASH FLOW
$222

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.

$215,000

PROJECTED PRICE

$1,330

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 7.0%
Maintenance Year (1-5) 8.00%
Vacancy 7.47%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$62,725

INVESTMENT

$62,725

Down Payment
$53,750
Rehab Estimate
$5,750
Closing Costs
$3,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$747

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $53,750
Loan Amount $161,250
See What Happens When You Reinvest Cash Flow

10.75

YEARS SAVED

$34,645

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,330

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $1,382

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,095
1$1,0952$1,1753$1,2004$1,3305$1,395
$1,395
RENT COMPS ANALYSIS
  • 1908 Tee Dee Street Raleigh, NC 4
    • 4 beds 2 baths ∙ 1,760 Sqft ∙ Built 1967 4 beds 2 baths ∙ 1,760 Sqft ∙ Built 1967
    • Rent
    • Rent Per SQFT
    •  
    • $1,330
    • $0.76
    •  
  • 1225 Robinson Avenue Raleigh, NC 1
    • 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 1968 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 1968
    LEASED 11/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,095
    • $0.76
    •  
  • 1124 Savannah Drive Raleigh, NC 2
    • 3 beds 2 baths ∙ 1,536 Sqft ∙ Built 1969 3 beds 2 baths ∙ 1,536 Sqft ∙ Built 1969
    LEASED 12/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,175
    • $0.76
    •  
  • 2115 Gilliam Lane Raleigh, NC 3
    • 4 beds 2 baths ∙ 1,506 Sqft ∙ Built 1963 4 beds 2 baths ∙ 1,506 Sqft ∙ Built 1963
    LEASED 01/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.80
    •  
  • 1621 Battery Drive Raleigh, NC 5
    • 3 beds 3 baths ∙ 1,710 Sqft ∙ Built 1959 3 beds 3 baths ∙ 1,710 Sqft ∙ Built 1959
    LEASED 07/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.82
    •  
PROPERTY LISTING DETAILS
Phionne Montague
1.919.637.1966
Quality Housing Solutions, Inc
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2374377
Last Updated: 03/26/2021
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