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PROPERTY INFO
FACTS
- Single Family
- Built In 1955
- Price/Sqft : $164.33
- 4 Days on Market
- MLS # : 2354541
- Updated Date : 11/21/2020 at 16:47
CONSTRUCTION
- Beds : 3
- Floor Size : 1,399 sqft
- Baths : 2 full
Listing Agent
Northside Realty Inc.
Listing Agent's Description
GORGEOUS One Level Living with a bright open floor plan and upgrades galore! This 3 bed plus Office/Flex Home features a custom designer kitchen with granite countertops, glass tile back splash & Stainless Steel appliances. Beautiful hardwoods, and NEW LVT flooring, & designer paint. NO CARPET! Large back yard and detached storage shed. No HOA dues. Convenient to RTP, Downtown Durham and Duke. Move in and enjoy!
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)
- 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)
PRICE & RENT TRENDS
Neighborhood: Chandler-Breedlove
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Chandler-Breedlove
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,370 |
| EXPENSES | Loan Payment | -$848 |
| Property Tax | -$160 | |
| Property Insurance | -$54 | |
| Property Management Fees | -$123 | |
|
CASH FLOW
$184
|
||
This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.
$229,900
PROJECTED PRICE
$1,370
PROJECTED RENT
0.60%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.11% |
| Appreciation Year (1-5) | 4.8% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 8.54% |
| 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
$66,674
LOAN DETAILS
$848
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $57,475 |
| Loan Amount | $172,425 |
8.92
YEARS SAVED
$33,316
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,370
LIST RENT -
$0.98
LIST RENT PER SQFT
-
$1,567
COMP ESTIMATED VALUE -
$1.12
COMP AVG. RENT PER SQFT
Comps Range
-
209 Breedlove Avenue Durham, NC 1
- 3 beds 2 baths ∙ 1,399 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,399 Sqft ∙ Built 1955
![property image]()
- Rent
- Rent Per SQFT
- $1,370
- $0.98
-
1156 Fiske Street Durham, NC 2
- 4 beds 2 baths ∙ 1,408 Sqft ∙ Built 1959 4 beds 2 baths ∙ 1,408 Sqft ∙ Built 1959
![property image]()
LEASED 07/31/20- Rent
- Rent Per SQFT
- $1,575
- $1.12
PROPERTY LISTING DETAILS
1.919.335.3048
Northside Realty Inc.
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
MLS #: 2354541
Last Updated: 11/21/2020
