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2605 Dality Drive Raleigh, NC 27604

4 Beds 3 Baths 2,272 sqft Built 2002

$287,000

List Price

$1,600

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $126.32
  • 10 Days on Market
  • MLS # : 2366808
  • Updated Date : 02/18/2021 at 15:18
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,272 sqft
  • Baths : 2 full , 1 half
Listing Agent

Exp Realty

Listing Agent's Description

Coming Soon! Showings begin March 1st. Come take a look at this beautiful home. Large back deck with a custom Koy Pond. 4 bedroom, 2.5 bathroom, w/garage home located just minutes from shopping/restaurants. Main level combo tile/laminate floors. Gather in a spacious kitchen with new granite and a center island that flows into the living area with a fireplace. Fresh paint (inside)Upstairs new laminate floors, a spacious master bdrm/bath with jacuzzi tub, dual-vanity his and hers closets +3 addl bdrms

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: New Hope Crossing

NeighborhoodNIR Market*CityMarket2010Year20002019140k150k160k170k180k190k200k210k220k230k240k250k260k270kPrice in $132k277k

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

Neighborhood: New Hope Crossing

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q29501000105011001150120012501300135014001450150015501600Rent in $9031630

* 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
 

$258,300$315,700$287,000

PURCHASE PRICE

$1,440$1,760$1,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,600
EXPENSES Loan Payment -$997
Property Tax -$236
Property Insurance -$71
HOA -$17
Property Management Fees -$119
CASH FLOW
$161

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.

$287,000

PROJECTED PRICE

$1,600

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 5.0%
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$1.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$81,805

INVESTMENT

$81,805

Down Payment
$71,750
Rehab Estimate
$5,750
Closing Costs
$4,305

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$997

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $71,750
Loan Amount $215,250
See What Happens When You Reinvest Cash Flow

8.42

YEARS SAVED

$32,355

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,600

    LIST RENT
  • $0.71

    LIST RENT PER SQFT
  • $1,664

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,6003$1,6004$1,6955$1,750
$1,750
RENT COMPS ANALYSIS
  • 2605 Dality Drive Raleigh, NC 3
    • 4 beds 3 baths ∙ 2,256 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,256 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.71
    •  
  • 2508 Westham Place Raleigh, NC 1
    • 4 beds 3 baths ∙ 2,208 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,208 Sqft ∙ Built 1990
    LEASED 05/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.70
    •  
  • 4400 Easthampton Drive Raleigh, NC 2
    • 4 beds 3 baths ∙ 2,067 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,067 Sqft ∙ Built 1992
    LEASED 02/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.77
    •  
  • 2849 Roundleaf Court Raleigh, NC 4
    • 3 beds 3 baths ∙ 2,440 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,440 Sqft ∙ Built 2005
    LEASED 10/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.69
    •  
  • 2536 Dality Drive Raleigh, NC 5
    • 4 beds 3 baths ∙ 2,217 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,217 Sqft ∙ Built 2003
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.79
    •  
PROPERTY LISTING DETAILS
Brandy Nemergut
1.919.495.5278
Exp Realty
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2366808
Last Updated: 02/18/2021
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