Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

2419 Dorety Place Raleigh, NC 27604

3 Beds 1 Baths 1,015 sqft Built 1959

$180,000

List Price

$1,180

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1959
  • Price/Sqft : $177.34
  • 3 Days on Market
  • MLS # : 2353670
  • Updated Date : 11/14/2020 at 03:56
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,015 sqft
  • Baths : 1 full
Listing Agent

Howard Perry & Walston Realtor

Listing Agent's Description

Darling midcentury ranch perfect for first time buyers or empty nesters! Located just outside the Beltline and minutes from downtown Raleigh, this home offers the privacy of an oversized wooded lot in an established neighborhood with no HOA fees. Recent upgrades include roof, vinyl windows, and smooth ceilings. Welcome home!

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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Skycrest Village

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $107k277k

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

Neighborhood: Skycrest Village

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q27008009001000110012001300140015001600Rent in $6111630

* 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
Durant Road Elementary School Primary Regular 977 63 4
Durant Road Middle School Middle Regular 1,245 78 5
Millbrook High School High Magnet 2,571 145 5

Durant Road Elementary School

  • Education Level: Primary
  • # of students: 977
  • # of teachers: 63
4
GreatSchools Rating

Durant Road Middle School

  • Education Level: Middle
  • # of students: 1,245
  • # of teachers: 78
5
GreatSchools Rating

Millbrook High School

  • Education Level: High
  • # of students: 2,571
  • # of teachers: 145
5
GreatSchools Rating
 

$162,000$198,000$180,000

PURCHASE PRICE

$1,062$1,298$1,180

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,180
EXPENSES Loan Payment -$664
Property Tax -$133
Property Insurance -$47
Property Management Fees -$106
CASH FLOW
$230

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.

$180,000

PROJECTED PRICE

$1,180

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 5.4%
Maintenance Year (1-5) 8.00%
Vacancy 7.47%
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$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$53,450

INVESTMENT

$53,450

Down Payment
$45,000
Rehab Estimate
$5,750
Closing Costs
$2,700

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$664

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $45,000
Loan Amount $135,000
See What Happens When You Reinvest Cash Flow

11.33

YEARS SAVED

$36,018

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,180

    LIST RENT
  • $1.16

    LIST RENT PER SQFT
  • $1,193

    COMP ESTIMATED VALUE
  • $1.18

    COMP AVG. RENT PER SQFT
Comps Range
$1,180
1$1,1802$1,2803$1,3954$1,5005$1,550
$1,550
RENT COMPS ANALYSIS
  • 2419 Dorety Place Raleigh, NC 1
    • 3 beds 1 baths ∙ 1,015 Sqft ∙ Built 1959 3 beds 1 baths ∙ 1,015 Sqft ∙ Built 1959
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,180
    • $1.16
    •  
  • 3233 Ward Road Raleigh, NC 2
    • 3 beds 2 baths ∙ 1,188 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,188 Sqft ∙ Built 1961
    property image
    LEASED 10/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,280
    • $1.08
    •  
  • 3105 Brentwood Road Raleigh, NC 3
    • 3 beds 2 baths ∙ 1,176 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,176 Sqft ∙ Built 1958
    property image
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.19
    •  
  • 3316 Ashby Place Raleigh, NC 4
    • 3 beds 2 baths ∙ 1,230 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,230 Sqft ∙ Built 1962
    property image
    LEASED 09/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.22
    •  
  • 3200 Long Bow Drive Raleigh, NC 5
    • 3 beds 2 baths ∙ 1,282 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,282 Sqft ∙ Built 1975
    property image
    LEASED 11/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.21
    •  
PROPERTY LISTING DETAILS
Jacquelyn Spears
1.919.368.5676
Howard Perry & Walston Realtor
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2353670
Last Updated: 11/14/2020
BESbswy