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2229 Laurel Valley Way Raleigh, NC 27604

3 Beds 3 Baths 2,013 sqft Built 1995

INVESTimate

$285,000

List Price

$1,530

$1,377 - $1,683

Rent Est.

$301,473  ( +5.78%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1995
  • Price/Sqft : $141.58
  • 7 Days on Market
  • MLS # : 2338367
  • Updated Date : 08/21/2020 at 17:33
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,013 sqft
  • Baths : 2 full , 1 half
Listing Agent

Allen Tate/raleigh-glenwood

Listing Agent's Description

Beautiful Move in Ready Home in Hedingham Golf Community! Conveniently located near major highway, shopping and entertainment. Just 15 minutes to downtown Raleigh! Home features 3 bedroom 2.5 bath & Large Bonus Room. Hardwood floors on first floor, new carpet on second floor. Enjoy entertaining in the sunroom and on the deck. New Carpet, New Paint through out and New Water Heater 8/20.

SEE MORE

MARKET HIGHLIGHTS

  • 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
  • #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)

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 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
 

$256,500$313,500$285,000

PURCHASE PRICE

$1,377$1,683$1,530

RENT

DOWN PAYMENT
FINANCING

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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,530
EXPENSES Loan Payment -$1,052
Property Tax -$239
Property Insurance -$65
HOA -$55
Property Management Fees -$138
CASH FLOW
-$18

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.

$285,000

PROJECTED PRICE

$1,530

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 5.78%
Maintenance Year (1-5) 8.00%
Vacancy 7.49%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$81,275

INVESTMENT

$81,275

Down Payment
$71,250
Rehab Estimate
$5,750
Closing Costs
$4,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,052

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $71,250
Loan Amount $213,750
See What Happens When You Reinvest Cash Flow

4.25

YEARS SAVED

$14,080

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,530

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $1,553

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,375
1$1,3752$1,5003$1,5304$1,6255$1,650
$1,650
RENT COMPS ANALYSIS
  • 2229 Laurel Valley Way Raleigh, 3
    • 3 beds 3 baths ∙ 1,947 Sqft ∙ Built 1995 3 beds 3 baths ∙ 1,947 Sqft ∙ Built 1995
    • Rent
    • Rent Per SQFT
    •  
    • $1,530
    • $0.79
    •  
  • 4945 Liverpool Lane Raleigh, 1
    • 3 beds 3 baths ∙ 1,747 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,747 Sqft ∙ Built 1988
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.79
    •  
  • 3012 Bethwicke Court Raleigh, 2
    • 4 beds 3 baths ∙ 2,000 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,000 Sqft ∙ Built 2000
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.75
    •  
  • 5005 Harbour Towne Drive Raleigh, 4
    • 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, 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
Amanda Alves
1.919.418.4638
Allen Tate/raleigh-glenwood
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2338367
Last Updated: 08/21/2020
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