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301 Roseland Avenue Durham, NC 27712

3 Beds 2 Baths 1,305 sqft Built 1969

$259,000

List Price

$1,240

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1969
  • Price/Sqft : $198.47
  • 7 Days on Market
  • MLS # : 2355688
  • Updated Date : 12/04/2020 at 22:12
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,305 sqft
  • Baths : 1 full , 1 half
Listing Agent

Shiper Realty, Llc

Listing Agent's Description

Beautifully updated home on a huge lot in established Northern Durham neighborhood! Brand new everything, from kitchen cabinets, ship lap accents, SS appliances, Central HVAC, roof, flooring, too much to list. Enjoy the wood burning fireplace or relax on the rear patio and take in the scenery of this half acre lot on a secluded street.

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

Zip Code: 27712

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $106k303k

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

Zip Code: 27712

ZipNIR Market*CityMarket2010Year2000 Q22019 Q290010001100120013001400150016001700Rent in $8591734

* 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
Eno Valley Elementary School Primary Regular 592 43 2
Carrington Middle School Middle Regular 1,094 72 4
Northern High School High Regular 1,448 83 3

Eno Valley Elementary School

  • Education Level: Primary
  • # of students: 592
  • # of teachers: 43
2
GreatSchools Rating

Carrington Middle School

  • Education Level: Middle
  • # of students: 1,094
  • # of teachers: 72
4
GreatSchools Rating

Northern High School

  • Education Level: High
  • # of students: 1,448
  • # of teachers: 83
3
GreatSchools Rating
 

$233,100$284,900$259,000

PURCHASE PRICE

$1,116$1,364$1,240

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,240
EXPENSES Loan Payment -$956
Property Tax -$224
Property Insurance -$52
Property Management Fees -$119
CASH FLOW
-$111

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$259,000

PROJECTED PRICE

$1,240

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.42%
Appreciation Year (1-5) 5.3%
Maintenance Year (1-5) 8.00%
Vacancy 8.51%
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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

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$74,385

INVESTMENT

$74,385

Down Payment
$64,750
Rehab Estimate
$5,750
Closing Costs
$3,885

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$956

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $64,750
Loan Amount $194,250
See What Happens When You Reinvest Cash Flow

3.17

YEARS SAVED

$7,707

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,240

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,335

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,240
1$1,2402$1,3503$1,5954$1,600
$1,600
RENT COMPS ANALYSIS
  • 301 Roseland Avenue Durham, NC 1
    • 3 beds 2 baths ∙ 1,305 Sqft ∙ Built 1969 3 beds 2 baths ∙ 1,305 Sqft ∙ Built 1969
    • Rent
    • Rent Per SQFT
    •  
    • $1,240
    • $0.95
    •  
  • 301 Cheryl Avenue Durham, NC 2
    • 3 beds 2 baths ∙ 1,534 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,534 Sqft ∙ Built 1964
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.88
    •  
  • 625 Wendy Way Durham, NC 3
    • 3 beds 2 baths ∙ 1,456 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,456 Sqft ∙ Built 1981
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.10
    •  
  • 4112 Lazyriver Lane Durham, NC 4
    • 3 beds 3 baths ∙ 1,464 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,464 Sqft ∙ Built 1988
    LEASED 03/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.09
    •  
PROPERTY LISTING DETAILS
Igor Shiper
1.919.274.3200
Shiper Realty, Llc
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2355688
Last Updated: 12/04/2020
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