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2025 Quail Forest Drive Raleigh, NC 27609

3 Beds 2 Baths 1,293 sqft Built 1981

$229,900

List Price

$1,300

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1981
  • Price/Sqft : $177.80
  • 73 Days on Market
  • MLS # : 2353617
  • Updated Date : 01/22/2021 at 20:54
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,293 sqft
  • Baths : 2 full
Listing Agent

Rachel Kendall Team

Listing Agent's Description

Charming 3 bedroom, 2 bath RANCH home featuring upgraded kitchen with stone counters and stainless appliances, beautiful bathrooms, bamboo floors, deck, paint, just to name a few! The living room boast soaring ceilings and a center fireplace. Huge master bedroom with walk-in closet and ensuite bathroom. Generous sized secondary bedrooms. Newly fenced yard. Highly desirable area with shopping and dining nearby.

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: Quail Forest

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $107k277k

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

Neighborhood: Quail Forest

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q28009001000110012001300140015001600Rent in $7321630

* 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
Millbrook Elementary School Primary Magnet 782 56 1
East Millbrook Middle School Middle Magnet 985 67 2
Millbrook High School High Magnet 2,571 145 5

Millbrook Elementary School

  • Education Level: Primary
  • # of students: 782
  • # of teachers: 56
1
GreatSchools Rating

East Millbrook Middle School

  • Education Level: Middle
  • # of students: 985
  • # of teachers: 67
2
GreatSchools Rating

Millbrook High School

  • Education Level: High
  • # of students: 2,571
  • # of teachers: 145
5
GreatSchools Rating
 

$206,910$252,890$229,900

PURCHASE PRICE

$1,170$1,430$1,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,300
EXPENSES Loan Payment -$799
Property Tax -$184
Property Insurance -$52
Property Management Fees -$119
CASH FLOW
$146

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.

$229,900

PROJECTED PRICE

$1,300

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 7.1%
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$900k

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$66,674

INVESTMENT

$66,674

Down Payment
$57,475
Rehab Estimate
$5,750
Closing Costs
$3,449

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$799

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $57,475
Loan Amount $172,425
See What Happens When You Reinvest Cash Flow

9

YEARS SAVED

$27,957

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,300

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $1,303

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,3003$1,5504$1,5955$1,650
$1,650
RENT COMPS ANALYSIS
  • 2025 Quail Forest Drive Raleigh, NC 2
    • 3 beds 2 baths ∙ 1,293 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,293 Sqft ∙ Built 1981
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $1.01
    •  
  • 2025 Bason Court Raleigh, NC 1
    • 3 beds 2 baths ∙ 1,260 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,260 Sqft ∙ Built 1983
    LEASED 07/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.99
    •  
  • 2008 Hunterfield Lane Raleigh, NC 3
    • 3 beds 3 baths ∙ 1,561 Sqft ∙ Built 1983 3 beds 3 baths ∙ 1,561 Sqft ∙ Built 1983
    LEASED 08/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.99
    •  
  • 2332 Ravenhill Drive Raleigh, NC 4
    • 3 beds 3 baths ∙ 1,561 Sqft ∙ Built 1979 3 beds 3 baths ∙ 1,561 Sqft ∙ Built 1979
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.02
    •  
  • 2013 Travianna Court Raleigh, NC 5
    • 3 beds 3 baths ∙ 1,600 Sqft ∙ Built 1983 3 beds 3 baths ∙ 1,600 Sqft ∙ Built 1983
    LEASED 08/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.03
    •  
PROPERTY LISTING DETAILS
Rachel Kendall
1.919.782.4505
Rachel Kendall Team
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2353617
Last Updated: 01/22/2021
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