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2512 Landale Court Raleigh, NC 27610

3 Beds 3 Baths 1,526 sqft Built 2003

$200,000

List Price

$1,400

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

November 01, 2020 RECENTLY ADDED
FACTS
  • Built In 2003
  • Price/Sqft : $131.06
  • 3 Days on Market
  • MLS # : 2351531
  • Updated Date : 11/01/2020 at 18:38
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,526 sqft
  • Baths : 2 full , 1 half
Listing Agent

Coldwell Banker Advantage

Listing Agent's Description

Beautiful cul-de-sac lot, 2 story home, 3 bedroom, fenced yard, great location home. New Roof 10/20, new paint 10/20, new carpet 10/20. This house is turn key ready to move in now. You have to see this house! Don't miss this opportunity.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • #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

PRICE & RENT TRENDS

Neighborhood: Maybrook Crossings

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $107k277k

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

Neighborhood: Maybrook Crossings

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q29001000110012001300140015001600Rent in $8231630

* 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
Rogers Lane Elementary School Primary Regular NA
East Garner Middle School Middle Magnet 1,361 83 4
Southeast Raleigh High School High Magnet 1,538 110 4

Rogers Lane Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

East Garner Middle School

  • Education Level: Middle
  • # of students: 1,361
  • # of teachers: 83
4
GreatSchools Rating

Southeast Raleigh High School

  • Education Level: High
  • # of students: 1,538
  • # of teachers: 110
4
GreatSchools Rating
 

$180,000$220,000$200,000

PURCHASE PRICE

$1,260$1,540$1,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,400
EXPENSES Loan Payment -$738
Property Tax -$183
Property Insurance -$57
HOA -$12
Property Management Fees -$126
CASH FLOW
$284

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.

$200,000

PROJECTED PRICE

$1,400

PROJECTED RENT

0.70%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 7.0%
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$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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$58,750

INVESTMENT

$58,750

Down Payment
$50,000
Rehab Estimate
$5,750
Closing Costs
$3,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$738

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $50,000
Loan Amount $150,000
See What Happens When You Reinvest Cash Flow

11.58

YEARS SAVED

$42,080

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,400

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,404

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,145
1$1,1452$1,2953$1,3504$1,4005$1,495
$1,495
RENT COMPS ANALYSIS
  • 2512 Landale Court Raleigh, NC 4
    • 3 beds 3 baths ∙ 1,526 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,526 Sqft ∙ Built 2003
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.92
    •  
  • 2020 Ranch Mill Circle Raleigh, NC 1
    • 3 beds 2 baths ∙ 1,222 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,222 Sqft ∙ Built 1990
    property image
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,145
    • $0.94
    •  
  • 4405 Viewmont Drive Raleigh, NC 2
    • 3 beds 3 baths ∙ 1,368 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,368 Sqft ∙ Built 1998
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.95
    •  
  • 1811 Rocky Stream Lane Raleigh, NC 3
    • 3 beds 3 baths ∙ 1,459 Sqft ∙ Built 2008 3 beds 3 baths ∙ 1,459 Sqft ∙ Built 2008
    property image
    LEASED 08/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.93
    •  
  • 1520 Pleasant Garden Lane Raleigh, NC 5
    • 3 beds 3 baths ∙ 1,740 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,740 Sqft ∙ Built 2001
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.86
    •  
PROPERTY LISTING DETAILS
Kim Smith
1.919.669.3835
Coldwell Banker Advantage
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2351531
Last Updated: 11/01/2020
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