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PROPERTY INFO
FACTS
- Single Family
- Built In 1968
- Price/Sqft : $221.32
- 41 Days on Market
- MLS # : 2357980
- Updated Date : 01/23/2021 at 19:53
CONSTRUCTION
- Beds : 3
- Floor Size : 1,351 sqft
- Baths : 2 full
Listing Agent
Ammons Pittman Property Manage
Listing Agent's Description
Ranch style home with 3 bedrooms, 2 baths. Freshly painted, new carpet, new light fixtures. Convenient location right off Six Forks Rd. Close to schools, shopping and highways.
SEE MORE
- 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: Northclift
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Northclift
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,340 |
| EXPENSES | Loan Payment | -$1,039 |
| Property Tax | -$221 | |
| Property Insurance | -$54 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
-$92
|
||
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.
$299,000
PROJECTED PRICE
$1,340
PROJECTED RENT
0.45%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.78% |
| Appreciation Year (1-5) | 8.0% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 7.49% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$84,985
LOAN DETAILS
$1,039
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $74,750 |
| Loan Amount | $224,250 |
4.17
YEARS SAVED
$11,611
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,340
LIST RENT -
$0.99
LIST RENT PER SQFT
-
$1,446
COMP ESTIMATED VALUE -
$1.07
COMP AVG. RENT PER SQFT
Comps Range
-
205 Killington Drive Raleigh, NC 2
- 3 beds 2 baths ∙ 1,351 Sqft ∙ Built 1968 3 beds 2 baths ∙ 1,351 Sqft ∙ Built 1968
- Rent
- Rent Per SQFT
- $1,340
- $0.99
-
7625 Stuart Drive Raleigh, NC 1
- 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1973
LEASED 01/31/20- Rent
- Rent Per SQFT
- $1,250
- $1.04
-
405 Killington Drive Raleigh, NC 3
- 3 beds 2 baths ∙ 1,271 Sqft ∙ Built 1968 3 beds 2 baths ∙ 1,271 Sqft ∙ Built 1968
LEASED 10/22/20- Rent
- Rent Per SQFT
- $1,395
- $1.10
-
5904 Rangeley Drive Raleigh, NC 4
- 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 1969 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 1969
LEASED 02/28/20- Rent
- Rent Per SQFT
- $1,450
- $1.12
-
5809 Wintergreen Drive Raleigh, NC 5
- 3 beds 2 baths ∙ 1,550 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,550 Sqft ∙ Built 1973
LEASED 02/01/20- Rent
- Rent Per SQFT
- $1,576
- $1.02
PROPERTY LISTING DETAILS
1.919.790.5455
Ammons Pittman Property Manage
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
MLS #: 2357980
Last Updated: 01/23/2021
