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304 Bentpine Drive Raleigh, NC 27603

3 Beds 3 Baths 1,553 sqft Built 1988

$258,000

List Price

$1,480

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

February 01, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $166.13
  • 8 Days on Market
  • MLS # : 2364328
  • Updated Date : 02/01/2021 at 01:24
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,553 sqft
  • Baths : 2 full , 1 half
Listing Agent

Raleigh Realty Inc.

Listing Agent's Description

What a get away, but next to the City! This amazing 2 story home is just 10 mins from Downtown Raleigh and all the amenities it has to offer. The amazing 3 bedroom home is not just a great home but also has a new 2021 roof and all interior painted. You can sit back and enjoy the traditional wood burning fireplace, while entertaining guest in the dining room with people enjoying the large front porch and rear deck. The seller is also giving a $2000 flooring credit. That way you can make it your own style.

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

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $100k277k

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

Neighborhood: Pinewinds

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q27008009001000110012001300140015001600Rent in $6561630

* 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
Smith Elementary School Primary Magnet 639 50 3
North Garner Middle School Middle Regular 948 59 3
Garner High School High Magnet 2,650 145 3

Smith Elementary School

  • Education Level: Primary
  • # of students: 639
  • # of teachers: 50
3
GreatSchools Rating

North Garner Middle School

  • Education Level: Middle
  • # of students: 948
  • # of teachers: 59
3
GreatSchools Rating

Garner High School

  • Education Level: High
  • # of students: 2,650
  • # of teachers: 145
3
GreatSchools Rating
 

$232,200$283,800$258,000

PURCHASE PRICE

$1,332$1,628$1,480

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,480
EXPENSES Loan Payment -$896
Property Tax -$206
Property Insurance -$57
Property Management Fees -$119
CASH FLOW
$201

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.

$258,000

PROJECTED PRICE

$1,480

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 5.7%
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$74,120

INVESTMENT

$74,120

Down Payment
$64,500
Rehab Estimate
$5,750
Closing Costs
$3,870

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$896

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $64,500
Loan Amount $193,500
See What Happens When You Reinvest Cash Flow

9.58

YEARS SAVED

$35,110

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,480

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,549

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,4003$1,4504$1,4505$1,480
$1,480
RENT COMPS ANALYSIS
  • 304 Bentpine Drive Raleigh, NC 5
    • 3 beds 3 baths ∙ 1,553 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,553 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $1,480
    • $0.95
    •  
  • 1011 Buckhorn Road Garner, NC 1
    • 3 beds 2 baths ∙ 1,322 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,322 Sqft ∙ Built 1985
    LEASED 01/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.02
    •  
  • 4905 Greenbrier Road Raleigh, NC 2
    • 3 beds 2 baths ∙ 1,527 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,527 Sqft ∙ Built 1971
    LEASED 12/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.92
    •  
  • 213 Bentpine Drive Raleigh, NC 3
    • 3 beds 2 baths ∙ 1,344 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,344 Sqft ∙ Built 1993
    LEASED 12/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.08
    •  
  • 1403 Buckhorn Road Garner, NC 4
    • 3 beds 2 baths ∙ 1,490 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,490 Sqft ∙ Built 1990
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.97
    •  
PROPERTY LISTING DETAILS
Jerry Robtoy
1.919.669.7931
Raleigh Realty Inc.
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2364328
Last Updated: 02/01/2021
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