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2132 Groundwater Place Raleigh, NC 27610

4 Beds 3 Baths 1,950 sqft Built 2005

$265,000

List Price

$1,630

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 04, 2020 RECENTLY ADDED
FACTS
  • Built In 2005
  • Price/Sqft : $135.90
  • 5 Days on Market
  • MLS # : 2352118
  • Updated Date : 11/07/2020 at 01:51
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,950 sqft
  • Baths : 2 full , 1 half
Listing Agent

America's Best Realty

Listing Agent's Description

Beautiful newly updated 4 bedroom home in a wonderful community! New paint, laminate wood flooring and carpet, HVAC, water heater etc. Home features a bright and spacious living room with gas log fireplace. Dining overlooks kitchen, living room and backyard. Kitchen features plenty of cabinets, counter tops and black and stainless steel appliances. Huge master bedroom with vaulted ceiling and walk in closet. Master bath with double vanity sinks. Landscaped for great curb appeal.

SEE MORE

MARKET HIGHLIGHTS

  • #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: Edgewater at Rogers Farm

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $107k277k

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

Neighborhood: Edgewater at Rogers Farm

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q29001000110012001300140015001600Rent in $8231630

* 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
Beaverdam Elementary School Primary Regular NA
River Bend Middle School Middle Regular NA
Knightdale High School High Regular 1,672 99 2

Beaverdam Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

River Bend Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Knightdale High School

  • Education Level: High
  • # of students: 1,672
  • # of teachers: 99
2
GreatSchools Rating
 

$238,500$291,500$265,000

PURCHASE PRICE

$1,467$1,793$1,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,630
EXPENSES Loan Payment -$978
Property Tax -$214
Property Insurance -$65
HOA -$35
Property Management Fees -$147
CASH FLOW
$191

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.

$265,000

PROJECTED PRICE

$1,630

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 3.5%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

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$75,975

INVESTMENT

$75,975

Down Payment
$66,250
Rehab Estimate
$5,750
Closing Costs
$3,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$978

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $66,250
Loan Amount $198,750
See What Happens When You Reinvest Cash Flow

8.33

YEARS SAVED

$34,802

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,630

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,575

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,4953$1,6254$1,6305$1,650
$1,650
RENT COMPS ANALYSIS
  • 2132 Groundwater Place Raleigh, NC 4
    • 4 beds 3 baths ∙ 1,950 Sqft ∙ Built 2005 4 beds 3 baths ∙ 1,950 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,630
    • $0.84
    •  
  • 2219 River Basin Lane Raleigh, NC 1
    • 3 beds 3 baths ∙ 1,860 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,860 Sqft ∙ Built 2005
    LEASED 05/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.78
    •  
  • 4737 Forest Highland Drive Raleigh, NC 2
    • 3 beds 3 baths ∙ 1,880 Sqft ∙ Built 1994 3 beds 3 baths ∙ 1,880 Sqft ∙ Built 1994
    LEASED 11/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.80
    •  
  • 5005 Harbour Towne Drive Raleigh, NC 3
    • 3 beds 3 baths ∙ 1,962 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,962 Sqft ∙ Built 1990
    LEASED 11/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.83
    •  
  • 4913 Liverpool Lane Raleigh, NC 5
    • 3 beds 3 baths ∙ 2,000 Sqft ∙ Built 1988 3 beds 3 baths ∙ 2,000 Sqft ∙ Built 1988
    LEASED 06/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.83
    •  
PROPERTY LISTING DETAILS
Kirk Keyes
1.919.395.9678
America's Best Realty
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2352118
Last Updated: 11/07/2020
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