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PROPERTY INFO
FACTS
- Single Family
- Built In 1960
- Price/Sqft : $176.47
- 6 Days on Market
- MLS # : 2368419
- Updated Date : 02/24/2021 at 00:00
CONSTRUCTION
- Beds : 4
- Floor Size : 1,445 sqft
- Baths : 2 full
Listing Agent
Howard Perry & Walston Realty
Listing Agent's Description
Cozy ranch in South Durham on spacious .541 acre lot. Remodeled open kitchen with island. Home offers 4 bdrms and 2 full baths. Flex space currently being used as the master bedroom is 130 square feet and is unpermitted. Don't miss the 10x16 detached storage unit. Conveniently located off S. Alston Avenue, close to RTP, NCCU, and Downtown Durham. Property to convey in "AS IS" condition. Seller will make no repairs.
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
Zip Code: 27707
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 27707
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,370 |
| EXPENSES | Loan Payment | -$886 |
| Property Tax | -$221 | |
| Property Insurance | -$55 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$89
|
||
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.
$254,999
PROJECTED PRICE
$1,370
PROJECTED RENT
0.54%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.11% |
| Appreciation Year (1-5) | 3.6% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 8.54% |
| 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
$73,325
LOAN DETAILS
$886
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $63,750 |
| Loan Amount | $191,249 |
7.42
YEARS SAVED
$23,691
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 -
$0.95
LIST RENT PER SQFT
-
$1,539
COMP ESTIMATED VALUE -
$1.07
COMP AVG. RENT PER SQFT
Comps Range
-
2206 S Alston Avenue Durham, NC 3
- 4 beds 2 baths ∙ 1,445 Sqft ∙ Built 1960 4 beds 2 baths ∙ 1,445 Sqft ∙ Built 1960
![property image]()
- Rent
- Rent Per SQFT
- $1,370
- $0.95
-
2317 Curtis Street Durham, NC 1
- 4 beds 2 baths ∙ 1,251 Sqft ∙ Built 1971 4 beds 2 baths ∙ 1,251 Sqft ∙ Built 1971
![property image]()
LEASED 01/27/21- Rent
- Rent Per SQFT
- $1,295
- $1.04
-
1305 Bacon Street Durham, NC 2
- 3 beds 2 baths ∙ 1,190 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,190 Sqft ∙ Built 1972
![property image]()
LEASED 08/11/20- Rent
- Rent Per SQFT
- $1,295
- $1.09
PROPERTY LISTING DETAILS
Howard Perry & Walston Realty
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
MLS #: 2368419
Last Updated: 02/24/2021
