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315 Oakdale Drive Hillsborough, NC 27278

3 Beds 2 Baths 1,171 sqft Built 1997

$258,000

List Price

$1,440

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $220.32
  • 3 Days on Market
  • MLS # : 2373003
  • Updated Date : 03/20/2021 at 09:26
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,171 sqft
  • Baths : 2 full
Listing Agent

Chk Realty

Listing Agent's Description

You don't want to miss this one ! New roof , New kitchen cabinet , Countertop, bathroom vanity , freshly Painted . Brand new Samsung Appliance. Move in- Ready Best location in between 85 and 40. Minutes to chapel hill and down town Hillsborough

SEE MORE

MARKET HIGHLIGHTS

  • #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)
  • 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

Zip Code: 27278

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $111k303k

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

Zip Code: 27278

ZipNIR Market*CityMarket2010Year2000 Q22019 Q210001100120013001400150016001700Rent in $9011734

* 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
Grady A. Brown Elementary School Primary Regular 460 35 5
A.l. Stanback Middle School Middle Regular 618 49 5
Cedar Ridge High School High Regular 1,163 74 7

Grady A. Brown Elementary School

  • Education Level: Primary
  • # of students: 460
  • # of teachers: 35
5
GreatSchools Rating

A.l. Stanback Middle School

  • Education Level: Middle
  • # of students: 618
  • # of teachers: 49
5
GreatSchools Rating

Cedar Ridge High School

  • Education Level: High
  • # of students: 1,163
  • # of teachers: 74
7
GreatSchools Rating
 

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

PURCHASE PRICE

$1,296$1,584$1,440

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,440
EXPENSES Loan Payment -$896
Property Tax -$321
Property Insurance -$50
HOA -$15
Property Management Fees -$119
CASH FLOW
$39

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$258,000

PROJECTED PRICE

$1,440

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.42%
Appreciation Year (1-5) 4.4%
Maintenance Year (1-5) 8.00%
Vacancy 8.51%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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 50% 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

5.33

YEARS SAVED

$14,626

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,440

    LIST RENT
  • $1.23

    LIST RENT PER SQFT
  • $1,639

    COMP ESTIMATED VALUE
  • $1.4

    COMP AVG. RENT PER SQFT
Comps Range
$1,440
1$1,4402$1,650
$1,650
RENT COMPS ANALYSIS
  • 315 Oakdale Drive Hillsborough, NC 1
    • 3 beds 2 baths ∙ 1,171 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,171 Sqft ∙ Built 1997
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,440
    • $1.23
    •  
  • 2110 Magnolia Lane Hillsborough, NC 2
    • 3 beds 3 baths ∙ 1,176 Sqft ∙ Built 1996 3 beds 3 baths ∙ 1,176 Sqft ∙ Built 1996
    property image
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.40
    •  
PROPERTY LISTING DETAILS
Kevin Zhu
1.919.452.6950
Chk Realty
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2373003
Last Updated: 03/20/2021
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