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2000 Haig Point Way Raleigh, NC 27604

3 Beds 2 Baths 1,658 sqft Built 1996

$285,000

List Price

$1,580

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $171.89
  • 4 Days on Market
  • MLS # : 2371519
  • Updated Date : 03/13/2021 at 15:51
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,658 sqft
  • Baths : 2 full
Listing Agent

Hunter Rowe Real Estate

Listing Agent's Description

RANCH home in desirable Hedingham GOLF community. Gorgeous golf course views! 3 bedrooms plus an OFFICE! Bright open floor plan with new LVP flooring and new CARPET! GRANITE counters, freshly painted, move in ready!! Private owners suite with GARDEN TUB, shower and huge WALK-IN closet. Extended GARAGE 30' DEEP-plenty of room for a WORKSHOP OR MUDROOM! DECK overlooks 16th Green. Community POOL & TENNIS See agent remarks regarding OFFER DEADLINE!

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)
  • 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
  • #7 Best Big City for Jobs 2018 (Forbes, 2018)
  • 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: 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
 

$256,500$313,500$285,000

PURCHASE PRICE

$1,422$1,738$1,580

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,580
EXPENSES Loan Payment -$990
Property Tax -$229
Property Insurance -$60
HOA -$55
Property Management Fees -$119
CASH FLOW
$128

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.

$285,000

PROJECTED PRICE

$1,580

PROJECTED RENT

0.55%

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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$81,275

INVESTMENT

$81,275

Down Payment
$71,250
Rehab Estimate
$5,750
Closing Costs
$4,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$990

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $71,250
Loan Amount $213,750
See What Happens When You Reinvest Cash Flow

7.67

YEARS SAVED

$28,552

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,580

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,588

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,425
1$1,4252$1,4503$1,5004$1,5805$1,645
$1,645
RENT COMPS ANALYSIS
  • 2000 Haig Point Way Raleigh, NC 4
    • 3 beds 2 baths ∙ 1,658 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,658 Sqft ∙ Built 1996
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,580
    • $0.95
    •  
  • 1933 Shadow Glen Drive Raleigh, NC 1
    • 3 beds 3 baths ∙ 1,513 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,513 Sqft ∙ Built 1997
    property image
    LEASED 02/26/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $0.94
    •  
  • 5124 Royal Dornoch Drive Raleigh, NC 2
    • 3 beds 3 baths ∙ 1,584 Sqft ∙ Built 1994 3 beds 3 baths ∙ 1,584 Sqft ∙ Built 1994
    property image
    LEASED 11/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.92
    •  
  • 4621 Ellsmere Lane Raleigh, NC 3
    • 3 beds 3 baths ∙ 1,540 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,540 Sqft ∙ Built 1989
    property image
    LEASED 06/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.97
    •  
  • 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
    property image
    LEASED 01/30/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,645
    • $1.00
    •  
PROPERTY LISTING DETAILS
Michael Regan
1.919.740.7000
Hunter Rowe Real Estate
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2371519
Last Updated: 03/13/2021
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