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PROPERTY INFO
FACTS
- Single Family
- Built In 2013
- Price/Sqft : $174.22
- 2 Days on Market
- MLS # : No MLS Number
CONSTRUCTION
- Beds : 3
- Floor Size : 2,382 sqft
- Baths : 3 full , 1 half
Listing Agent
Tobin
Listing Agent's Description
Rare BASEMENT townhome, excellent location, move in condition. NEW PAINT throughout. Entry foyer leads to open concept, living, dining, kitchen area, all hardwoods. Kitchen has lots of cabinets, counterspace, ss, granite. Family room has gas fireplace. Deck off kitchen. Upstairs is large master, dual sinks, walk in closet. 2 great size secondary bedrooms & laundry. Full basement would be great bonus room, or inlaw suite, full bathroom in basement. Patio off basement. Culdesac & backs to natural area.
SEE MORE
- #7 Best Big City for Jobs 2018 (Forbes, 2018)
- 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)
- 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: Providence Place
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Providence Place
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,900 |
| EXPENSES | Loan Payment | -$1,441 |
| Property Tax | -$484 | |
| Property Insurance | -$74 | |
| HOA | -$109 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
-$327
|
||
This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 16% of earned rent to cover both maintenance and periods of vacancy.
$415,000
PROJECTED PRICE
$1,900
PROJECTED RENT
0.46%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.33% |
| Appreciation Year (1-5) | 6.1% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 7.51% |
| 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
$115,725
LOAN DETAILS
$1,441
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $103,750 |
| Loan Amount | $311,250 |
1.67
YEARS SAVED
$4,391
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
YOUR SOLUTIONS MANAGER
Please Contact Your Solutions Manager
To review the detailed price and rent comps for this property and answer any questions you may have.
PROPERTY LISTING DETAILS
Tobin
