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3105 Arrowwood Drive Raleigh, NC 27604

3 Beds 2 Baths 1,800 sqft Built 1966

$259,900

List Price

$1,490

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

December 22, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1966
  • Price/Sqft : $144.39
  • 7 Days on Market
  • MLS # : 2358779
  • Updated Date : 12/23/2020 at 15:01
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,800 sqft
  • Baths : 2 full
Listing Agent

Realty World-triangle Living

Listing Agent's Description

Solid Brentwood home. This one is waiting for a new owner and updates. Priced accordingly. Hardwood floors, fireplace, screen porch, Measurements and pictures to follow. Please wear mask and follow covid guidelines. ***Multiple offers. Please send in your highest and best offer by noon, 12/24/20. Sellers will look at all offers then.***

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

Neighborhood: Brentwood Estates

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $111k277k

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

Neighborhood: Brentwood Estates

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q28009001000110012001300140015001600Rent in $7561630

* 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
Brentwood Magnet Elementary School Of Engineering Primary Magnet 451 37 3
Centennial Campus Middle School Middle Magnet 588 41 4
Southeast Raleigh High School High Magnet 1,538 110 4

Brentwood Magnet Elementary School Of Engineering

  • Education Level: Primary
  • # of students: 451
  • # of teachers: 37
3
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
 

$233,910$285,890$259,900

PURCHASE PRICE

$1,341$1,639$1,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,490
EXPENSES Loan Payment -$959
Property Tax -$192
Property Insurance -$62
Property Management Fees -$119
CASH FLOW
$158

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.

$259,900

PROJECTED PRICE

$1,490

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 9.2%
Maintenance Year (1-5) 8.00%
Vacancy 7.49%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,624

INVESTMENT

$74,624

Down Payment
$64,975
Rehab Estimate
$5,750
Closing Costs
$3,899

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$959

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $64,975
Loan Amount $194,925
See What Happens When You Reinvest Cash Flow

9

YEARS SAVED

$37,020

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,490

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,494

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,4903$1,5004$1,5005$1,600
$1,600
RENT COMPS ANALYSIS
  • 3105 Arrowwood Drive Raleigh, NC 2
    • 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 1966 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 1966
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,490
    • $0.83
    •  
  • 3400 Brentwood Road Raleigh, NC 1
    • 3 beds 2 baths ∙ 1,758 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,758 Sqft ∙ Built 1961
    property image
    LEASED 07/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.77
    •  
  • 3418 Huntleigh Drive Raleigh, NC 3
    • 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
    •  
  • 3204 Fairforest Place Raleigh, NC 4
    • 3 beds 2 baths ∙ 1,833 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,833 Sqft ∙ Built 1963
    property image
    LEASED 06/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.82
    •  
  • 3428 Allendale Drive Raleigh, NC 5
    • 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
    •  
PROPERTY LISTING DETAILS
Mimi Floyd
1.919.812.2457
Realty World-triangle Living
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2358779
Last Updated: 12/23/2020
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