Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

2144 Haig Point Way Raleigh, NC 27604

3 Beds 3 Baths 1,995 sqft Built 1999

$289,900

List Price

$1,590

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $145.31
  • 2 Days on Market
  • MLS # : 2369240
  • Updated Date : 02/27/2021 at 20:52
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,995 sqft
  • Baths : 2 full , 1 half
Listing Agent

Allen Tate/raleigh-glenwood

Listing Agent's Description

STUNNING home in the sought after community, Hedingham. ON THE 16th FAIRWAY! 3 bedrooms PLUS bonus, 2.5 Baths. Oversized Master suite with newly remodeled master bath featuring a tiled walk-in shower. Kick back and enjoy a drink on your oversized deck with golf course views. Fenced in backyard perfect for your furbaby. Quick access to 540 and 440. Neighborhood amenities, pools, tennis, golf course, and so much more!

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: Hedingham

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $114k277k

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

Neighborhood: Hedingham

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q29001000110012001300140015001600Rent in $8401630

* 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 Unknown NA
River Bend Middle School Middle Unknown 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
 

$260,910$318,890$289,900

PURCHASE PRICE

$1,431$1,749$1,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,590
EXPENSES Loan Payment -$1,007
Property Tax -$225
Property Insurance -$66
HOA -$55
Property Management Fees -$119
CASH FLOW
$118

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.

$289,900

PROJECTED PRICE

$1,590

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 5.8%
Maintenance Year (1-5) 8.00%
Vacancy 7.49%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,574

INVESTMENT

$82,574

Down Payment
$72,475
Rehab Estimate
$5,750
Closing Costs
$4,349

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,007

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $72,475
Loan Amount $217,425
See What Happens When You Reinvest Cash Flow

7.58

YEARS SAVED

$27,979

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,590

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $1,606

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,4953$1,5904$1,5955$1,625
$1,625
RENT COMPS ANALYSIS
  • 2144 Haig Point Way Raleigh, NC 3
    • 3 beds 3 baths ∙ 1,995 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,995 Sqft ∙ Built 1999
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,590
    • $0.80
    •  
  • 5017 Royal Dornoch Drive Raleigh, NC 1
    • 3 beds 3 baths ∙ 1,655 Sqft ∙ Built 1993 3 beds 3 baths ∙ 1,655 Sqft ∙ Built 1993
    property image
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.85
    •  
  • 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
    property image
    LEASED 11/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.80
    •  
  • 1924 Spanish Bay Court Raleigh, NC 4
    • 4 beds 3 baths ∙ 2,168 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,168 Sqft ∙ Built 1996
    property image
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.74
    •  
  • 5005 Harbour Towne Drive Raleigh, NC 5
    • 3 beds 3 baths ∙ 1,962 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,962 Sqft ∙ Built 1990
    property image
    LEASED 11/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.83
    •  
PROPERTY LISTING DETAILS
Gretchen Coley
1.919.422.3794
Allen Tate/raleigh-glenwood
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2369240
Last Updated: 02/27/2021
BESbswy