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1912 Riverknoll Drive Raleigh, NC 27610

4 Beds 3 Baths 1,595 sqft Built 1987

$249,900

List Price

$1,380

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

January 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $156.68
  • 7 Days on Market
  • MLS # : 2362250
  • Updated Date : 01/21/2021 at 05:14
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,595 sqft
  • Baths : 3 full
Listing Agent

Howard Perry & Walston Realtor

Listing Agent's Description

Coming Soon

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • #7 Best Big City for Jobs 2018 (Forbes, 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
  • One of Top 10 cities for Small Business Friendliness (Thumbtack, 2018)

PRICE & RENT TRENDS

Neighborhood: Riverknoll

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $94k277k

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

Neighborhood: Riverknoll

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q29001000110012001300140015001600Rent in $8021630

* 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
Barwell Road Elementary School Primary Regular 798 57 3
F.j. Carnage Gt/aig Magnet Middle School Middle Magnet 1,156 69 5
South Garner High School High Regular NA

Barwell Road Elementary School

  • Education Level: Primary
  • # of students: 798
  • # of teachers: 57
3
GreatSchools Rating

F.j. Carnage Gt/aig Magnet Middle School

  • Education Level: Middle
  • # of students: 1,156
  • # of teachers: 69
5
GreatSchools Rating

South Garner High School

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

$224,910$274,890$249,900

PURCHASE PRICE

$1,242$1,518$1,380

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,380
EXPENSES Loan Payment -$868
Property Tax -$184
Property Insurance -$58
Property Management Fees -$119
CASH FLOW
$151

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.

$249,900

PROJECTED PRICE

$1,380

PROJECTED RENT

0.55%

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$200k$400k$600k$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$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$71,974

INVESTMENT

$71,974

Down Payment
$62,475
Rehab Estimate
$5,750
Closing Costs
$3,749

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 $62,475
Loan Amount $187,425
See What Happens When You Reinvest Cash Flow

8.67

YEARS SAVED

$29,773

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,380

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,492

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,345
1$1,3452$1,3503$1,3504$1,3805$1,425
$1,425
RENT COMPS ANALYSIS
  • 1912 Riverknoll Drive Raleigh, NC 4
    • 3 beds 3 baths ∙ 1,600 Sqft ∙ Built 1987 3 beds 3 baths ∙ 1,600 Sqft ∙ Built 1987
    • Rent
    • Rent Per SQFT
    •  
    • $1,380
    • $0.86
    •  
  • 3742 Marshlane Way Raleigh, NC 1
    • 3 beds 3 baths ∙ 1,421 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,421 Sqft ∙ Built 2006
    LEASED 01/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,345
    • $0.95
    •  
  • 3025 Bracey Place Raleigh, NC 2
    • 3 beds 3 baths ∙ 1,386 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,386 Sqft ∙ Built 2001
    LEASED 11/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.97
    •  
  • 3131 Marcony Way Raleigh, NC 3
    • 3 beds 3 baths ∙ 1,391 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,391 Sqft ∙ Built 2001
    LEASED 12/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.97
    •  
  • 3619 Cannold Court Raleigh, NC 5
    • 4 beds 3 baths ∙ 1,702 Sqft ∙ Built 2004 4 beds 3 baths ∙ 1,702 Sqft ∙ Built 2004
    LEASED 12/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $0.84
    •  
PROPERTY LISTING DETAILS
Jon Mcbride
1.919.669.8647
Howard Perry & Walston Realtor
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2362250
Last Updated: 01/21/2021
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