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PROPERTY INFO
FACTS
- Single Family
- Built In 1977
- Price/Sqft : $148.02
- 2 Days on Market
- MLS # : 2358601
- Updated Date : 12/19/2020 at 17:37
CONSTRUCTION
- Beds : 3
- Floor Size : 1,689 sqft
- Baths : 2 full
Listing Agent
Alliance Real Estate Partners
Listing Agent's Description
Fantastic opportunity for investors to renovate and flip this 3 bedroom home currently living as a 2 bedroom on a large flat parcel in fantastic location near RDU Airport and Brier Creek! Opportunities like this don't come often, this one won't last long!
SEE MORE
- 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
- #7 Best Big City for Jobs 2018 (Forbes, 2018)
- Major employers in Raleigh area: IBM, Cisco systems, Fidelity Investments, GlaxoSmithKline, RTI International
- One of Top 10 cities for Small Business Friendliness (Thumbtack, 2018)
PRICE & RENT TRENDS
Neighborhood: Northwest Raleigh
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Northwest Raleigh
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,580 |
| EXPENSES | Loan Payment | -$922 |
| Property Tax | -$184 | |
| Property Insurance | -$60 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$295
|
||
This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 16% of earned rent to cover both maintenance and periods of vacancy.
$250,000
PROJECTED PRICE
$1,580
PROJECTED RENT
0.63%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.33% |
| Appreciation Year (1-5) | 5.3% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 7.51% |
| 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
$72,000
LOAN DETAILS
$922
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $62,500 |
| Loan Amount | $187,500 |
12.17
YEARS SAVED
$54,886
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,580
LIST RENT -
$0.94
LIST RENT PER SQFT
-
$1,689
COMP ESTIMATED VALUE -
$1
COMP AVG. RENT PER SQFT
Comps Range
-
3106 Globe Road Morrisville, NC 2
- 3 beds 2 baths ∙ 1,689 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,689 Sqft ∙ Built 1977
![property image]()
- Rent
- Rent Per SQFT
- $1,580
- $0.94
-
105 Kingsley Woods Drive Durham, NC 1
- 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 1992
![property image]()
LEASED 12/18/20- Rent
- Rent Per SQFT
- $1,350
- $1.00
PROPERTY LISTING DETAILS
1.919.418.4433
Alliance Real Estate Partners
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
MLS #: 2358601
Last Updated: 12/19/2020
