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2713 Golden Amber Court Raleigh, NC 27610

3 Beds 3 Baths 1,915 sqft Built 2003

$259,900

List Price

$1,560

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $135.72
  • 6 Days on Market
  • MLS # : 2358063
  • Updated Date : 12/18/2020 at 20:40
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,915 sqft
  • Baths : 2 full , 1 half
Listing Agent

Fonville Morisey/midtown Sales Office

Listing Agent's Description

Showings Start Sat, Dec 19th. Run to see this Show Stopper! Make appt today to see this well-maintained, freshly painted home. All appliances convey including the washer & dryer. Looking for closet space? All bedrooms have WICs. Neutral decor ---just bring your furniture! Grill on the patio or sit out on the front covered porch. Spacious FR, breakfast bar and separate DR are just more reasons to call this one home! Minutes from YMCA, shopping, I-40 and downtown Raleigh. Don't miss this opportunity!

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: Granite Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $107k277k

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

Neighborhood: Granite Ridge

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
Walnut Creek Elementary School Primary Regular 818 49 NA
West Lake Middle School Middle Regular 1,344 77 6
Southeast Raleigh High School High Magnet 1,538 110 4

Walnut Creek Elementary School

  • Education Level: Primary
  • # of students: 818
  • # of teachers: 49
NA
GreatSchools Rating

West Lake Middle School

  • Education Level: Middle
  • # of students: 1,344
  • # of teachers: 77
6
GreatSchools Rating

Southeast Raleigh High School

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

$233,910$285,890$259,900

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 -$959
Property Tax -$191
Property Insurance -$65
HOA -$17
Property Management Fees -$119
CASH FLOW
$209

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.

$259,900

PROJECTED PRICE

$1,560

PROJECTED RENT

0.60%

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$200k$400k$600k$800k$1.0M

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$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,624

INVESTMENT

$74,624

Down Payment
$64,975
Rehab Estimate
$5,750
Closing Costs
$3,899

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% 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 $64,975
Loan Amount $194,925
See What Happens When You Reinvest Cash Flow

9.67

YEARS SAVED

$42,294

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
  • $0.81

    LIST RENT PER SQFT
  • $1,570

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,4003$1,4954$1,4955$1,560
$1,560
RENT COMPS ANALYSIS
  • 2713 Golden Amber Court Raleigh, NC 5
    • 3 beds 3 baths ∙ 1,915 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,915 Sqft ∙ Built 2003
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,560
    • $0.81
    •  
  • 1404 Tamarino Drive Raleigh, NC 1
    • 4 beds 3 baths ∙ 1,805 Sqft ∙ Built 2018 4 beds 3 baths ∙ 1,805 Sqft ∙ Built 2018
    property image
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.78
    •  
  • 2720 Cabochon Diamond Court Raleigh, NC 2
    • 3 beds 3 baths ∙ 1,756 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,756 Sqft ∙ Built 2002
    property image
    LEASED 11/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.80
    •  
  • 1310 Southgate Drive Raleigh, NC 3
    • 3 beds 3 baths ∙ 1,781 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,781 Sqft ∙ Built 2004
    property image
    LEASED 01/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.84
    •  
  • 1520 Pleasant Garden Lane Raleigh, NC 4
    • 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
Teresa Connor
1.919.740.8361
Fonville Morisey/midtown Sales Office
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2358063
Last Updated: 12/18/2020
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