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PROPERTY INFO
FACTS
- Single Family
- Built In 1989
- Price/Sqft : $170.00
- 2 Days on Market
- MLS # : 2358621
- Updated Date : 12/19/2020 at 21:07
CONSTRUCTION
- Beds : 3
- Floor Size : 1,500 sqft
- Baths : 2 full
Listing Agent
Van Horn Realty Group
Listing Agent's Description
New paint , carpet, flooring, water heater and much more...this hard to find gem wont last long.
SEE MORE
- 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: Amherst
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Amherst
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,360 |
| EXPENSES | Loan Payment | -$941 |
| Property Tax | -$138 | |
| Property Insurance | -$56 | |
| HOA | -$18 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$88
|
||
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.
$255,000
PROJECTED PRICE
$1,360
PROJECTED RENT
0.53%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.33% |
| Appreciation Year (1-5) | 4.4% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 7.51% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$73,325
LOAN DETAILS
$941
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $63,750 |
| Loan Amount | $191,250 |
8.33
YEARS SAVED
$32,327
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,360
LIST RENT -
$0.91
LIST RENT PER SQFT
-
$1,365
COMP ESTIMATED VALUE -
$0.91
COMP AVG. RENT PER SQFT
Comps Range
-
2816 Thurrock Drive Apex, NC 2
- 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1989
![property image]()
- Rent
- Rent Per SQFT
- $1,360
- $0.91
-
8908 Juaquin Lane Raleigh, NC 1
- 3 beds 3 baths ∙ 1,432 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,432 Sqft ∙ Built 1997
![property image]()
LEASED 07/22/20- Rent
- Rent Per SQFT
- $1,295
- $0.90
-
8305 Bells Lake Road Apex, NC 3
- 3 beds 3 baths ∙ 1,742 Sqft ∙ Built 1974 3 beds 3 baths ∙ 1,742 Sqft ∙ Built 1974
![property image]()
LEASED 01/06/20- Rent
- Rent Per SQFT
- $1,500
- $0.86
-
3212 Sawyers Mill Drive Apex, NC 4
- 3 beds 3 baths ∙ 1,650 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,650 Sqft ∙ Built 2001
![property image]()
LEASED 11/15/20- Rent
- Rent Per SQFT
- $1,600
- $0.97
PROPERTY LISTING DETAILS
1.919.268.2518
Van Horn Realty Group
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
MLS #: 2358621
Last Updated: 12/19/2020
