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

2605 Denbigh Court Raleigh, NC 27604

3 Beds 3 Baths 1,723 sqft Built 1987

$260,000

List Price

$1,420

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $150.90
  • 4 Days on Market
  • MLS # : 2353365
  • Updated Date : 11/15/2020 at 04:04
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,723 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Preferred Realty

Listing Agent's Description

The votes are in and this Southall beauty on a cul-de-sac is the WINNER. This house is made for entertaining with an open floor plan, see-through fireplace, built-in shelves, and updated kitchen and bathrooms. After a long day toiling in the greenhouse, enjoy a cocktail on the oversized deck while your fur babies zoom in the flat, fenced-in backyard. Upstairs, you'll find 3 spacious bedrooms with a luxurious owner's suite. 8 minutes from downtown Raleigh. Come find your new digs on Denbigh!

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: Southall

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $107k277k

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

Neighborhood: Southall

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q29001000110012001300140015001600Rent in $8031630

* 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
Wilburn Elementary School Primary Regular 691 50 2
Durant Road Middle School Middle Regular 1,245 78 5
Millbrook High School High Magnet 2,571 145 5

Wilburn Elementary School

  • Education Level: Primary
  • # of students: 691
  • # of teachers: 50
2
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
 

$234,000$286,000$260,000

PURCHASE PRICE

$1,278$1,562$1,420

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,420
EXPENSES Loan Payment -$959
Property Tax -$201
Property Insurance -$61
HOA -$28
Property Management Fees -$128
CASH FLOW
$43

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.

$260,000

PROJECTED PRICE

$1,420

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 7.2%
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$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$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,650

INVESTMENT

$74,650

Down Payment
$65,000
Rehab Estimate
$5,750
Closing Costs
$3,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$959

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $65,000
Loan Amount $195,000
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$18,700

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,420

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $1,465

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,4203$1,4954$1,4955$1,600
$1,600
RENT COMPS ANALYSIS
  • 2605 Denbigh Court Raleigh, NC 2
    • 3 beds 3 baths ∙ 1,723 Sqft ∙ Built 1987 3 beds 3 baths ∙ 1,723 Sqft ∙ Built 1987
    • Rent
    • Rent Per SQFT
    •  
    • $1,420
    • $0.82
    •  
  • 3712 E Jameson Road Raleigh, NC 1
    • 3 beds 3 baths ∙ 1,547 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,547 Sqft ∙ Built 1988
    LEASED 11/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.90
    •  
  • 4015 Oatgrass Lane Raleigh, NC 3
    • 3 beds 3 baths ∙ 1,868 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,868 Sqft ∙ Built 2004
    LEASED 01/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.80
    •  
  • 4737 Forest Highland Drive Raleigh, NC 4
    • 3 beds 3 baths ∙ 1,880 Sqft ∙ Built 1994 3 beds 3 baths ∙ 1,880 Sqft ∙ Built 1994
    LEASED 11/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.80
    •  
  • 5132 Pinehall Wynd Raleigh, NC 5
    • 3 beds 2 baths ∙ 1,776 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,776 Sqft ∙ Built 1998
    LEASED 03/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.90
    •  
PROPERTY LISTING DETAILS
Cory Sherman
1.919.322.9152
Keller Williams Preferred Realty
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2353365
Last Updated: 11/15/2020
BESbswy