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PROPERTY INFO
FACTS
- Single Family
- Built In 1997
- Price/Sqft : $201.54
- 33 Days on Market
- MLS # : 2355324
- Updated Date : 12/23/2020 at 17:41
CONSTRUCTION
- Beds : 3
- Floor Size : 1,166 sqft
- Baths : 2 full
Listing Agent
Daymark Realty Llc
Listing Agent's Description
Hard to find Fenced Ranch home on a 1.93 acre cul-de-sac lot. Home offer a new HVAC (2019), New Roof (2019) with Architectural 30yr Shingles, Bamboo Floors throughout, Crown Molding, Cathedral Ceiling in Family Room. The Kitchen is completely updated w/ Granite Counters, Lovely Cabinets, SS Appliances, Range offers Double Ovens, Pantry and Pockets Lighting. Workshop in one of the two storage sheds has power. Walk the home virtually via the 3D tour!
SEE MORE
- 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: Summerville
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Summerville
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,130 |
| EXPENSES | Loan Payment | -$867 |
| Property Tax | -$149 | |
| Property Insurance | -$50 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
-$55
|
||
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.
$235,000
PROJECTED PRICE
$1,130
PROJECTED RENT
0.48%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.78% |
| Appreciation Year (1-5) | 5.6% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 7.49% |
| 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
$68,025
LOAN DETAILS
$867
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $58,750 |
| Loan Amount | $176,250 |
4.83
YEARS SAVED
$13,516
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,130
LIST RENT -
$0.97
LIST RENT PER SQFT
-
$1,061
COMP ESTIMATED VALUE -
$0.91
COMP AVG. RENT PER SQFT
Comps Range
-
304 Topeka Lane Willow Spring(s), NC 2
- 3 beds 2 baths ∙ 1,166 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,166 Sqft ∙ Built 1997
![property image]()
- Rent
- Rent Per SQFT
- $1,130
- $0.97
-
135 Pebblestone Court Willow Spring(s), NC 1
- 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1999
![property image]()
LEASED 03/01/20- Rent
- Rent Per SQFT
- $1,100
- $0.92
-
2095 White Memorial Church Road Willow Spring(s), NC 3
- 3 beds 2 baths ∙ 1,387 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,387 Sqft ∙ Built 1992
![property image]()
LEASED 11/22/19- Rent
- Rent Per SQFT
- $1,250
- $0.90
PROPERTY LISTING DETAILS
1.919.413.8787
Daymark Realty Llc
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
MLS #: 2355324
Last Updated: 12/23/2020
