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2308 Sundial Circle Durham, NC 27704

3 Beds 2 Baths 1,254 sqft Built 1992

$195,000

List Price

$1,100

$990 - $1.2K

Rent Est.

PROPERTY INFO

January 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1992
  • Price/Sqft : $155.50
  • 2 Days on Market
  • MLS # : 2363091
  • Updated Date : 01/23/2021 at 14:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,254 sqft
  • Baths : 2 full
Listing Agent

Reel Realty

Listing Agent's Description

WOW! This Renovated Ranch Home is BEAUTIFUL! NEW Upgraded flooring! BRAND NEW KITCHEN with white shaker cabinetry, granite countertops, tiled back-splash, new appliances, and new light fixtures! Both bathrooms featured granite countertops! Enjoy the outdoors on your covered front porch or backyard patio. Exterior freshly painted and landscaped. Previous seller stated roof was replaced in 2017.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • #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)

PRICE & RENT TRENDS

Zip Code: 27704

ZipNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260kPrice in $61k274k

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

Zip Code: 27704

ZipNIR Market*CityMarket2010Year2000 Q22019 Q2800900100011001200130014001500Rent in $7261518

* 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
Glenn Elementary School Primary Regular 644 46 1
Lucas Middle School Middle Regular 658 43 2
Northern High School High Regular 1,448 83 3

Glenn Elementary School

  • Education Level: Primary
  • # of students: 644
  • # of teachers: 46
1
GreatSchools Rating

Lucas Middle School

  • Education Level: Middle
  • # of students: 658
  • # of teachers: 43
2
GreatSchools Rating

Northern High School

  • Education Level: High
  • # of students: 1,448
  • # of teachers: 83
3
GreatSchools Rating
 

$175,500$214,500$195,000

PURCHASE PRICE

$990$1,210$1,100

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,100
EXPENSES Loan Payment -$677
Property Tax -$169
Property Insurance -$51
Property Management Fees -$119
CASH FLOW
$84

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.

$195,000

PROJECTED PRICE

$1,100

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.28%
Appreciation Year (1-5) 6.7%
Maintenance Year (1-5) 8.00%
Vacancy 8.55%
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

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$57,425

INVESTMENT

$57,425

Down Payment
$48,750
Rehab Estimate
$5,750
Closing Costs
$2,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$677

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $48,750
Loan Amount $146,250
See What Happens When You Reinvest Cash Flow

8

YEARS SAVED

$20,131

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,100

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,176

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,000
1$1,0002$1,1003$1,1004$1,1455$1,250
$1,250
RENT COMPS ANALYSIS
  • 2308 Sundial Circle Durham, NC 3
    • 3 beds 2 baths ∙ 1,254 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,254 Sqft ∙ Built 1992
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.88
    •  
  • 2631 Glenbrook Drive Durham, NC 1
    • 3 beds 2 baths ∙ 1,000 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,000 Sqft ∙ Built 1979
    LEASED 03/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,000
    • $1.00
    •  
  • 22 Rhyn Court Durham, NC 2
    • 3 beds 2 baths ∙ 1,218 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,218 Sqft ∙ Built 1991
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.90
    •  
  • 2416 Sundial Circle Durham, NC 4
    • 3 beds 2 baths ∙ 1,232 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,232 Sqft ∙ Built 1994
    LEASED 01/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,145
    • $0.93
    •  
  • 2503 Mahala Drive Durham, NC 5
    • 3 beds 2 baths ∙ 1,352 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,352 Sqft ∙ Built 1992
    LEASED 12/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.92
    •  
PROPERTY LISTING DETAILS
Aaron Reel
1.919.896.4574
Reel Realty
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2363091
Last Updated: 01/23/2021
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