Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

2012 Winston Diamond Court Raleigh, NC 27610

3 Beds 3 Baths 1,369 sqft Built 2002

$220,000

List Price

$1,170

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

February 10, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $160.70
  • 5 Days on Market
  • MLS # : 2366112
  • Updated Date : 02/11/2021 at 17:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,369 sqft
  • Baths : 2 full , 1 half
Listing Agent

Agent Group Realty

Listing Agent's Description

Multiple Offers exit, 2/13 5pm deadline. Beautiful recently renovated Cul-De-Sac house. Open to above great room with fireplace and open to kitchen gives a great feel of space and beauty with its recently finished hardwood floor. All hardwood first floor and new laminate second floor, no carpet. Hardwood stairs with nice trim giving a great luxury touch. New paint. Ceiling fans. Huge entertaining deck with lots of privacy. Great location Close to everything. Should not last long, schedule a visit today!

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: Granite Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $107k277k

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

Neighborhood: Granite Ridge

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q29001000110012001300140015001600Rent in $8231630

* 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
West Lake Middle School Middle Regular 1,344 77 6
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

West Lake Middle School

  • Education Level: Middle
  • # of students: 1,344
  • # of teachers: 77
6
GreatSchools Rating

Southeast Raleigh High School

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

$198,000$242,000$220,000

PURCHASE PRICE

$1,053$1,287$1,170

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,170
EXPENSES Loan Payment -$764
Property Tax -$162
Property Insurance -$54
HOA -$17
Property Management Fees -$119
CASH FLOW
$54

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.

$220,000

PROJECTED PRICE

$1,170

PROJECTED RENT

0.53%

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

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$64,050

INVESTMENT

$64,050

Down Payment
$55,000
Rehab Estimate
$5,750
Closing Costs
$3,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$764

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $55,000
Loan Amount $165,000
See What Happens When You Reinvest Cash Flow

7

YEARS SAVED

$18,360

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,170

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,239

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,170
1$1,1702$1,3253$1,3504$1,3755$1,450
$1,450
RENT COMPS ANALYSIS
  • 2012 Winston Diamond Court Raleigh, NC 1
    • 3 beds 3 baths ∙ 1,369 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,369 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,170
    • $0.85
    •  
  • 1439 Tamarino Drive Raleigh, NC 2
    • 3 beds 3 baths ∙ 1,500 Sqft ∙ Built 2018 3 beds 3 baths ∙ 1,500 Sqft ∙ Built 2018
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,325
    • $0.88
    •  
  • 1458 Tamarino Drive Raleigh, NC 3
    • 3 beds 2 baths ∙ 1,513 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,513 Sqft ∙ Built 2018
    LEASED 08/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.89
    •  
  • 1408 Tamarino Drive Raleigh, NC 4
    • 3 beds 3 baths ∙ 1,507 Sqft ∙ Built 2018 3 beds 3 baths ∙ 1,507 Sqft ∙ Built 2018
    LEASED 10/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.91
    •  
  • 1009 Southgate Drive Raleigh, NC 5
    • 3 beds 3 baths ∙ 1,535 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,535 Sqft ∙ Built 2002
    LEASED 08/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.94
    •  
PROPERTY LISTING DETAILS
Wally Elhentaty
1.919.369.8686
Agent Group Realty
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2366112
Last Updated: 02/11/2021
BESbswy