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3008 Oldham Court Raleigh, NC 27604

4 Beds 2 Baths 1,805 sqft Built 1971

$250,000

List Price

$1,570

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 27, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1971
  • Price/Sqft : $138.50
  • 3 Days on Market
  • MLS # : 2355402
  • Updated Date : 11/27/2020 at 13:04
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,805 sqft
  • Baths : 2 full
Listing Agent

Pathway Realty

Listing Agent's Description

Lovely spacious four bedroom home. Hardwood floors in the foyer, living room and formal dining room. New carpet in Bedroom 1 through 3, tile flooring in both baths. New stainless steal dishwasher, Kraft Maid kitchen cabinets and stainless steel 5 burner gas stove. Cul de sac lot, close to library, park and Triangle Town Center. Home sweet home.

SEE MORE

MARKET HIGHLIGHTS

  • 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
  • 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)

PRICE & RENT TRENDS

Neighborhood: Shamrock Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $100k277k

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

Neighborhood: Shamrock Meadows

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q27008009001000110012001300140015001600Rent in $6261630

* 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
Brassfield Elementary School Primary Regular 780 47 5
Centennial Campus Middle School Middle Magnet 588 41 4
Southeast Raleigh High School High Magnet 1,538 110 4

Brassfield Elementary School

  • Education Level: Primary
  • # of students: 780
  • # of teachers: 47
5
GreatSchools Rating

Centennial Campus Middle School

  • Education Level: Middle
  • # of students: 588
  • # of teachers: 41
4
GreatSchools Rating

Southeast Raleigh High School

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

$225,000$275,000$250,000

PURCHASE PRICE

$1,413$1,727$1,570

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,570
EXPENSES Loan Payment -$922
Property Tax -$184
Property Insurance -$62
Property Management Fees -$141
CASH FLOW
$260

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.

$250,000

PROJECTED PRICE

$1,570

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 5.4%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$72,000

INVESTMENT

$72,000

Down Payment
$62,500
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$922

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,500
Loan Amount $187,500
See What Happens When You Reinvest Cash Flow

10.17

YEARS SAVED

$43,411

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,570

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,552

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,5003$1,5704$1,6005$1,795
$1,795
RENT COMPS ANALYSIS
  • 3008 Oldham Court Raleigh, NC 3
    • 4 beds 2 baths ∙ 1,805 Sqft ∙ Built 1971 4 beds 2 baths ∙ 1,805 Sqft ∙ Built 1971
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,570
    • $0.87
    •  
  • 3717 Sue Ellen Drive Raleigh, NC 1
    • 3 beds 3 baths ∙ 1,621 Sqft ∙ Built 1976 3 beds 3 baths ∙ 1,621 Sqft ∙ Built 1976
    property image
    LEASED 08/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.86
    •  
  • 3418 Huntleigh Drive Raleigh, NC 2
    • 3 beds 3 baths ∙ 1,825 Sqft ∙ Built 1966 3 beds 3 baths ∙ 1,825 Sqft ∙ Built 1966
    property image
    LEASED 10/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.82
    •  
  • 3428 Allendale Drive Raleigh, NC 4
    • 3 beds 3 baths ∙ 1,761 Sqft ∙ Built 1966 3 beds 3 baths ∙ 1,761 Sqft ∙ Built 1966
    property image
    LEASED 07/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.91
    •  
  • 3321 Huntleigh Drive Raleigh, NC 5
    • 5 beds 3 baths ∙ 2,103 Sqft ∙ Built 1967 5 beds 3 baths ∙ 2,103 Sqft ∙ Built 1967
    property image
    LEASED 05/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.85
    •  
PROPERTY LISTING DETAILS
Sandra Barrios
1.919.271.1969
Pathway Realty
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2355402
Last Updated: 11/27/2020
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