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209 Breedlove Avenue Durham, NC 27703

3 Beds 2 Baths 1,399 sqft Built 1955

$229,900

List Price

$1,370

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
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

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)
  • 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

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260kPrice in $75k274k

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

Neighborhood: Chandler-Breedlove

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q290095010001050110011501200125013001350140014501500Rent in $8591518

* 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
Oak Grove Elementary School Primary Regular 625 41 3
Neal Magnet Middle School Middle Regular 857 60 1
Southern School Of Energy And Sustainability High Regular 1,292 90 2

Oak Grove Elementary School

  • Education Level: Primary
  • # of students: 625
  • # of teachers: 41
3
GreatSchools Rating

Neal Magnet Middle School

  • Education Level: Middle
  • # of students: 857
  • # of teachers: 60
1
GreatSchools Rating

Southern School Of Energy And Sustainability

  • Education Level: High
  • # of students: 1,292
  • # of teachers: 90
2
GreatSchools Rating
 

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

PURCHASE PRICE

$1,233$1,507$1,370

RENT

DOWN PAYMENT
FINANCING

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

ASSUMPTIONS

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
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$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

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.

$848

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $57,475
Loan Amount $172,425
See What Happens When You Reinvest Cash Flow

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
$1,370
1$1,3702$1,575
$1,575
RENT COMPS ANALYSIS
  • 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
Stephanie Anson
1.919.335.3048
Northside Realty Inc.
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2354541
Last Updated: 11/21/2020
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