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2017 Muirfield Village Way Raleigh, NC 27604

3 Beds 3 Baths 2,200 sqft Built 1994

$300,000

List Price

$1,540

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 01, 2020 RECENTLY ADDED
FACTS
  • Built In 1994
  • Price/Sqft : $136.36
  • 5 Days on Market
  • MLS # : 2351434
  • Updated Date : 11/02/2020 at 02:58
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,200 sqft
  • Baths : 2 full , 1 half
Listing Agent

Fathom Realty Nc, Llc

Listing Agent's Description

Gorgeous Hedingham golf course beauty! Meticulously maintained & upgraded in all the right places! *NEW in 2020: Windows, Blinds, Paint, Siding & Landscaping.* Roof in 2016. Stunning remodeled master bath: Tile floors & shower, glass enclosure & Quartz counters. Updated guest & half baths. Updated kitchen cabinets & island w/ Quartz counters. Beautiful bamboo 1st floor. Crown throughout. Large deck with amazing sunset views. Walk to greenway! Community gym, pools, playgrounds, tennis & golf privileges.

SEE MORE

MARKET HIGHLIGHTS

  • Major employers in Raleigh area: IBM, Cisco systems, Fidelity Investments, GlaxoSmithKline, RTI International
  • 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)
  • #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

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 Regular NA
River Bend Middle School Middle Regular 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
 

$270,000$330,000$300,000

PURCHASE PRICE

$1,386$1,694$1,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,540
EXPENSES Loan Payment -$1,107
Property Tax -$223
Property Insurance -$70
HOA -$55
Property Management Fees -$139
CASH FLOW
-$53

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.

$300,000

PROJECTED PRICE

$1,540

PROJECTED RENT

0.51%

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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$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$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $75,000
Loan Amount $225,000
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$12,456

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,540

    LIST RENT
  • $0.7

    LIST RENT PER SQFT
  • $1,584

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$1,540
1$1,5402$1,5503$1,5704$1,5955$1,700
$1,700
RENT COMPS ANALYSIS
  • 2017 Muirfield Village Way Raleigh, NC 1
    • 3 beds 3 baths ∙ 2,200 Sqft ∙ Built 1994 3 beds 3 baths ∙ 2,200 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $1,540
    • $0.70
    •  
  • 3108 Carriage Light Court Raleigh, NC 2
    • 4 beds 3 baths ∙ 2,250 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,250 Sqft ∙ Built 1999
    LEASED 02/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.69
    •  
  • 5029 Amberfield Way Raleigh, NC 3
    • 4 beds 3 baths ∙ 2,208 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,208 Sqft ∙ Built 1999
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,570
    • $0.71
    •  
  • 1924 Spanish Bay Court Raleigh, NC 4
    • 4 beds 3 baths ∙ 2,168 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,168 Sqft ∙ Built 1996
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.74
    •  
  • 3209 Bellenden Place Raleigh, NC 5
    • 4 beds 3 baths ∙ 2,303 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,303 Sqft ∙ Built 2000
    LEASED 07/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.74
    •  
PROPERTY LISTING DETAILS
Christina Serafino
1.919.368.0436
Fathom Realty Nc, Llc
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2351434
Last Updated: 11/02/2020
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