Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

311 Trimble Avenue Cary, NC 27511

3 Beds 2 Baths 1,343 sqft Built 1988

$299,900

List Price

$1,400

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $223.31
  • 4 Days on Market
  • MLS # : 2361724
  • Updated Date : 01/15/2021 at 21:49
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,343 sqft
  • Baths : 2 full
Listing Agent

Trismith Realty

Listing Agent's Description

Lovely Ranch Home in Desirable Cary Location. Home has been Beautifully Updated! Fam.Rm, Kitchen and DR offers a Wonderful Open Concept. Updated Kitchen Includes: Granite, Tile and ALL New Appliances! Kitchen Island w/ Great Bar Seating. New Flooring Throughout. Updated Bathrooms complete w/ Skylights. Updated Lighting. Charming Wood-burning Fireplace. Fenced backyard complete w/ Entertaining Patio + Awesome Storage Shed! Fresh Paint throughout (Interior and Exterior). Conv. to Hwy, Shop, etc.

SEE MORE

MARKET HIGHLIGHTS

  • Major employers in Raleigh area: IBM, Cisco systems, Fidelity Investments, GlaxoSmithKline, RTI International
  • #7 Best Big City for Jobs 2018 (Forbes, 2018)
  • 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)
  • 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: Scottish Hills

NeighborhoodNIR Market*CityMarket2010Year20002019160k180k200k220k240k260k280k300k320k340k360k380kPrice in $150k385k

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

Neighborhood: Scottish Hills

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q21000110012001300140015001600170018001900Rent in $9381978

* 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
Turner Creek Elementary School Primary Regular 704 48 5
Salem Middle School Middle Regular 1,238 76 7
Cary High School High Regular 2,396 135 7

Turner Creek Elementary School

  • Education Level: Primary
  • # of students: 704
  • # of teachers: 48
5
GreatSchools Rating

Salem Middle School

  • Education Level: Middle
  • # of students: 1,238
  • # of teachers: 76
7
GreatSchools Rating

Cary High School

  • Education Level: High
  • # of students: 2,396
  • # of teachers: 135
7
GreatSchools Rating
 

$269,910$329,890$299,900

PURCHASE PRICE

$1,260$1,540$1,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,400
EXPENSES Loan Payment -$1,042
Property Tax -$223
Property Insurance -$53
Property Management Fees -$119
CASH FLOW
-$37

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.

$299,900

PROJECTED PRICE

$1,400

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.33%
Appreciation Year (1-5) 6.5%
Maintenance Year (1-5) 8.00%
Vacancy 7.51%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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$85,224

INVESTMENT

$85,224

Down Payment
$74,975
Rehab Estimate
$5,750
Closing Costs
$4,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,042

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $74,975
Loan Amount $224,925
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$18,102

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,400

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $1,397

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,4253$1,4754$1,5255$1,550
$1,550
RENT COMPS ANALYSIS
  • 311 Trimble Avenue Cary, NC 1
    • 3 beds 2 baths ∙ 1,343 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,343 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.04
    •  
  • 902 Medlin Road Cary, NC 2
    • 3 beds 2 baths ∙ 1,340 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,340 Sqft ∙ Built 1977
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $1.06
    •  
  • 901 Medlin Drive Cary, NC 3
    • 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1977
    LEASED 12/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.98
    •  
  • 121 Sterlingdaire Drive Cary, NC 4
    • 3 beds 2 baths ∙ 1,446 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,446 Sqft ∙ Built 1991
    LEASED 12/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $1.05
    •  
  • 1205 Haddington Drive Cary, NC 5
    • 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 1976
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.07
    •  
PROPERTY LISTING DETAILS
Myers Smith
1.919.219.2703
Trismith Realty
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2361724
Last Updated: 01/15/2021
BESbswy