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2448 Sapphire Valley Drive Raleigh, NC 27604

3 Beds 3 Baths 1,636 sqft Built 2005

$250,000

List Price

$1,560

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $152.81
  • 4 Days on Market
  • MLS # : 2367634
  • Updated Date : 02/19/2021 at 23:11
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,636 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Advantage

Listing Agent's Description

Move in ready 3 bedroom 2.5 bathroom home in Hedingham. Fenced in back yard with a deck for outdoor entertaining that backs up to the Greenway. Open floor plan. Large family room with corner fireplace with gas logs. Master suite w/trey ceiling, sitting area or office in master suite, dual sinks, tub/shower combo, and huge walk in closet. 2 pools, 2 parks, free golf, athletic center.

SEE MORE

MARKET HIGHLIGHTS

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

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
Rolesville High School High Regular 1,200 69 NA

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

Rolesville High School

  • Education Level: High
  • # of students: 1,200
  • # of teachers: 69
NA
GreatSchools Rating
 

$225,000$275,000$250,000

PURCHASE PRICE

$1,404$1,716$1,560

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,560
EXPENSES Loan Payment -$868
Property Tax -$196
Property Insurance -$59
HOA -$52
Property Management Fees -$119
CASH FLOW
$266

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.

$250,000

PROJECTED PRICE

$1,560

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 5.8%
Maintenance Year (1-5) 8.00%
Vacancy 7.49%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

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$72,000

INVESTMENT

$72,000

Down Payment
$62,500
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$868

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $62,500
Loan Amount $187,500
See What Happens When You Reinvest Cash Flow

10.83

YEARS SAVED

$40,817

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,560

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,554

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,4253$1,4504$1,5605$1,645
$1,645
RENT COMPS ANALYSIS
  • 2448 Sapphire Valley Drive Raleigh, NC 4
    • 3 beds 3 baths ∙ 1,636 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,636 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,560
    • $0.95
    •  
  • 1725 Kingston Heath Way Raleigh, NC 1
    • 3 beds 3 baths ∙ 1,488 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,488 Sqft ∙ Built 1990
    property image
    LEASED 01/12/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.94
    •  
  • 1933 Shadow Glen Drive Raleigh, NC 2
    • 3 beds 3 baths ∙ 1,513 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,513 Sqft ∙ Built 1997
    property image
    LEASED 12/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $0.94
    •  
  • 5124 Royal Dornoch Drive Raleigh, NC 3
    • 3 beds 3 baths ∙ 1,584 Sqft ∙ Built 1994 3 beds 3 baths ∙ 1,584 Sqft ∙ Built 1994
    property image
    LEASED 11/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.92
    •  
  • 1812 Crag Burn Lane Raleigh, NC 5
    • 3 beds 3 baths ∙ 1,650 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,650 Sqft ∙ Built 1998
    property image
    LEASED 01/30/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,645
    • $1.00
    •  
PROPERTY LISTING DETAILS
Megan Hackley
1.919.649.1610
Re/max Advantage
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2367634
Last Updated: 02/19/2021
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