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2408 N Roxboro Street Durham, NC 27704

2 Beds 2 Baths 1,200 sqft Built 1944

$235,000

List Price

$1,230

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1944
  • Price/Sqft : $195.83
  • 8 Days on Market
  • MLS # : 2373314
  • Updated Date : 03/25/2021 at 15:37
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,200 sqft
  • Baths : 2 full
Listing Agent

Prestige Realty

Listing Agent's Description

GORGEOUS one Level sweet home! Almost NEW..minutes to Downtown Durham, and Duke University! Great features throughout the house, It was renovated outside & inside from A to Z. New Roof, Framing, Insulations, Sidings, Windows, Doors, Gutters, and Stone Chimney.New Electric Wiring,Plumbing & Sewer Systems.New Flooring, New Kitchen(Granite, Back splash& Cabinets) SS Appliances. New Bathrooms New HVAC system. Convenient Semi Circular Driveway, and Private Fenced Backyard! Must See!

SEE MORE

MARKET HIGHLIGHTS

  • Major employers in Raleigh area: IBM, Cisco systems, Fidelity Investments, GlaxoSmithKline, RTI International
  • #7 Best Big City for Jobs 2018 (Forbes, 2018)
  • 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: Colonial Village

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260kPrice in $61k274k

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

Neighborhood: Colonial Village

NeighborhoodNIR 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
Carrington Middle School Middle Regular 1,094 72 4
Northern High School High Regular 1,448 83 3

Glenn Elementary School

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

Carrington Middle School

  • Education Level: Middle
  • # of students: 1,094
  • # of teachers: 72
4
GreatSchools Rating

Northern High School

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

$211,500$258,500$235,000

PURCHASE PRICE

$1,107$1,353$1,230

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,230
EXPENSES Loan Payment -$816
Property Tax -$204
Property Insurance -$50
Property Management Fees -$119
CASH FLOW
$41

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.

$235,000

PROJECTED PRICE

$1,230

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.28%
Appreciation Year (1-5) 8.0%
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$800k$900k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$68,025

INVESTMENT

$68,025

Down Payment
$58,750
Rehab Estimate
$5,750
Closing Costs
$3,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$816

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $58,750
Loan Amount $176,250
See What Happens When You Reinvest Cash Flow

6.67

YEARS SAVED

$18,680

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,230

    LIST RENT
  • $1.03

    LIST RENT PER SQFT
  • $1,212

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,195
1$1,1952$1,2303$1,300
$1,300
RENT COMPS ANALYSIS
  • 2408 N Roxboro Street Durham, NC 2
    • 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1944 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1944
    • Rent
    • Rent Per SQFT
    •  
    • $1,230
    • $1.03
    •  
  • 2503 N Duke Street Durham, NC 1
    • 3 beds 2 baths ∙ 1,144 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,144 Sqft ∙ Built 1961
    LEASED 10/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $1.04
    •  
  • 410 Macon Street Durham, NC 3
    • 4 beds 2 baths ∙ 1,322 Sqft ∙ Built 1930 4 beds 2 baths ∙ 1,322 Sqft ∙ Built 1930
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.98
    •  
PROPERTY LISTING DETAILS
Samar Sakr
1.919.889.9706
Prestige Realty
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2373314
Last Updated: 03/25/2021
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