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2206 Ferdinand Drive Knightdale, NC 27545

3 Beds 3 Baths 1,798 sqft Built 2010

$250,000

List Price

$1,500

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2010
  • Price/Sqft : $139.04
  • 5 Days on Market
  • MLS # : 2363588
  • Updated Date : 01/28/2021 at 15:43
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,798 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty

Listing Agent's Description

Beautiful, well maintained 3 BR/2 Bath home in Knightdale. Kithchen featuring granite coutertops, tile backsplash, SS appliances and tons of cabinet space. Open floor plan, lots of natural light, hardwoods throughout the main level. Huge master with tray ceiling, 2 walk in closets, double vanity, separate tub and a shower. Additional 2 bedrooms and a full bath also on the second floor. Large fenced in back yard and patio are great for entertaining. Community pool available. Minutes from Hwy 540 & Hwy 264.

SEE MORE

MARKET HIGHLIGHTS

  • #7 Best Big City for Jobs 2018 (Forbes, 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
  • 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)

PRICE & RENT TRENDS

Neighborhood: Churchill

NeighborhoodNIR Market*CityMarket2010Year20002019130k140k150k160k170k180k190k200k210k220k230k240k250k260kPrice in $121k265k

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

Neighborhood: Churchill

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q295010001050110011501200125013001350140014501500155016001650Rent in $9461676

* 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
Knightdale Elementary School Primary Regular 750 54 NA
East Wake Middle School Middle Regular 884 56 2
Knightdale High School High Regular 1,672 99 2

Knightdale Elementary School

  • Education Level: Primary
  • # of students: 750
  • # of teachers: 54
NA
GreatSchools Rating

East Wake Middle School

  • Education Level: Middle
  • # of students: 884
  • # of teachers: 56
2
GreatSchools Rating

Knightdale High School

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

$225,000$275,000$250,000

PURCHASE PRICE

$1,350$1,650$1,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,500
EXPENSES Loan Payment -$868
Property Tax -$202
Property Insurance -$62
HOA -$45
Property Management Fees -$119
CASH FLOW
$204

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.

$250,000

PROJECTED PRICE

$1,500

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 5.1%
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$100k$200k$300k$400k$500k$600k$700k$800k$900k

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$72,000

INVESTMENT

$72,000

Down Payment
$62,500
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$868

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $62,500
Loan Amount $187,500
See What Happens When You Reinvest Cash Flow

9.58

YEARS SAVED

$34,144

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,500

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,510

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,4953$1,5004$1,5005$1,600
$1,600
RENT COMPS ANALYSIS
  • 2206 Ferdinand Drive Knightdale, NC 4
    • 3 beds 3 baths ∙ 1,798 Sqft ∙ Built 2010 3 beds 3 baths ∙ 1,798 Sqft ∙ Built 2010
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.83
    •  
  • 628 Twain Town Drive Knightdale, NC 1
    • 3 beds 3 baths ∙ 1,803 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,803 Sqft ∙ Built 2005
    LEASED 04/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.83
    •  
  • 714 Beddingfield Drive Knightdale, NC 2
    • 3 beds 3 baths ∙ 1,762 Sqft ∙ Built 1991 3 beds 3 baths ∙ 1,762 Sqft ∙ Built 1991
    LEASED 01/07/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.85
    •  
  • 516 Laurens Way Knightdale, NC 3
    • 4 beds 3 baths ∙ 1,932 Sqft ∙ Built 1999 4 beds 3 baths ∙ 1,932 Sqft ∙ Built 1999
    LEASED 02/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.78
    •  
  • 904 Pleasant Colony Drive Knightdale, NC 5
    • 3 beds 3 baths ∙ 1,781 Sqft ∙ Built 2011 3 beds 3 baths ∙ 1,781 Sqft ∙ Built 2011
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.90
    •  
PROPERTY LISTING DETAILS
Jordan Clark
1.919.901.5080
Keller Williams Realty
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2363588
Last Updated: 01/28/2021
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