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2721 Rustic Brick Road Raleigh, NC 27603

3 Beds 3 Baths 1,650 sqft Built 2004

$300,000

List Price

$1,540

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 23, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $181.82
  • 5 Days on Market
  • MLS # : 2359030
  • Updated Date : 12/23/2020 at 22:43
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,650 sqft
  • Baths : 2 full , 1 half
Listing Agent

Howard Perry & Walston Realtor

Listing Agent's Description

.87 Acre Private and Wooded Home Site Located on a Quiet Street! Convenient Southern Raleigh Location! Gourmet Kitchen w/Granite Ctops, Cherry Stained Cabs & Lg Peninsula Counter for Entertaining! Large 1st Floor Master Bdrm w/Ceiling Fan! Master Bath w/Dual Vanity, Garden Tub & Separate Shower! Family Room w/Fireplace & White Painted Mantel w/Black Solid Surface Surround & Hearth! Cozy Bonus Room is Perfect for Home Office or Study! Kinetico Water Filtration System! Sealed Crawl! No HOA or City Taxes!

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)
  • #7 Best Big City for Jobs 2018 (Forbes, 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

PRICE & RENT TRENDS

Neighborhood: Rustic Brick

NeighborhoodNIR Market*CityMarket2010Year20002019160k180k200k220k240k260k280k300k320k340kPrice in $145k359k

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

Neighborhood: Rustic Brick

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2800900100011001200130014001500160017001800Rent in $7691873

* 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
Banks Road Elementary School Primary Regular 699 48 6
Holly Grove Middle School Middle Regular 1,439 81 8
Middle Creek High School High Regular 2,249 120 7

Banks Road Elementary School

  • Education Level: Primary
  • # of students: 699
  • # of teachers: 48
6
GreatSchools Rating

Holly Grove Middle School

  • Education Level: Middle
  • # of students: 1,439
  • # of teachers: 81
8
GreatSchools Rating

Middle Creek High School

  • Education Level: High
  • # of students: 2,249
  • # of teachers: 120
7
GreatSchools Rating
 

$270,000$330,000$300,000

PURCHASE PRICE

$1,386$1,694$1,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,540
EXPENSES Loan Payment -$1,107
Property Tax -$253
Property Insurance -$59
Property Management Fees -$119
CASH FLOW
$2

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 16% of earned rent to cover both maintenance and periods of vacancy.

$300,000

PROJECTED PRICE

$1,540

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.33%
Appreciation Year (1-5) 5.7%
Maintenance Year (1-5) 8.00%
Vacancy 7.51%
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$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $75,000
Loan Amount $225,000
See What Happens When You Reinvest Cash Flow

6.42

YEARS SAVED

$26,019

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,540

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,510

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,4503$1,540
$1,540
RENT COMPS ANALYSIS
  • 2721 Rustic Brick Road Raleigh, NC 3
    • 3 beds 3 baths ∙ 1,650 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,650 Sqft ∙ Built 2004
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,540
    • $0.93
    •  
  • 1305 Woodline Drive Raleigh, NC 1
    • 3 beds 2 baths ∙ 1,585 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,585 Sqft ∙ Built 2001
    property image
    LEASED 10/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.91
    •  
  • 2809 Buckboard Lane Raleigh, NC 2
    • 3 beds 2 baths ∙ 1,575 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,575 Sqft ∙ Built 1995
    property image
    LEASED 07/18/22
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.92
    •  
PROPERTY LISTING DETAILS
Jim Allen
1.919.645.2114
Howard Perry & Walston Realtor
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2359030
Last Updated: 12/23/2020
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