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3207 Sunbright Lane Raleigh, NC 27610

4 Beds 3 Baths 2,255 sqft Built 2008

$260,000

List Price

$1,680

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 01, 2020 RECENTLY ADDED
FACTS
  • Built In 2008
  • Price/Sqft : $115.30
  • 3 Days on Market
  • MLS # : 2351568
  • Updated Date : 11/02/2020 at 01:27
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,255 sqft
  • Baths : 2 full , 1 half
Listing Agent

Transition Realty Group

Listing Agent's Description

Welcome Home! Take a look at this 4 bedroom, 2.5 bath home located only minutes to Downtown Raleigh and I-40. This home showcases a ton of features that will catch your attention! Gleaming hardwood floors in the foyer, family room and formal dining room with an added touch of Wainscoting in the dining room! The master suite opens up with magnificent trey ceilings, oversized WIC, separate tub/shower, his & her vanities and much more! Plus an added bonus with 2 Storage sheds and a fenced backyard!

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)
  • 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)
  • #7 Best Big City for Jobs 2018 (Forbes, 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: Sunnybrook Estates

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $107k277k

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

Neighborhood: Sunnybrook Estates

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q29001000110012001300140015001600Rent in $8231630

* 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
Walnut Creek Elementary School Primary Regular 818 49 NA
West Lake Middle School Middle Regular 1,344 77 6
Southeast Raleigh High School High Magnet 1,538 110 4

Walnut Creek Elementary School

  • Education Level: Primary
  • # of students: 818
  • # of teachers: 49
NA
GreatSchools Rating

West Lake Middle School

  • Education Level: Middle
  • # of students: 1,344
  • # of teachers: 77
6
GreatSchools Rating

Southeast Raleigh High School

  • Education Level: High
  • # of students: 1,538
  • # of teachers: 110
4
GreatSchools Rating
 

$234,000$286,000$260,000

PURCHASE PRICE

$1,512$1,848$1,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,680
EXPENSES Loan Payment -$959
Property Tax -$214
Property Insurance -$71
HOA -$15
Property Management Fees -$151
CASH FLOW
$269

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.

$260,000

PROJECTED PRICE

$1,680

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 7.0%
Maintenance Year (1-5) 8.00%
Vacancy 7.47%
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$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,650

INVESTMENT

$74,650

Down Payment
$65,000
Rehab Estimate
$5,750
Closing Costs
$3,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% 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 $65,000
Loan Amount $195,000
See What Happens When You Reinvest Cash Flow

9.92

YEARS SAVED

$44,112

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,680

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $1,657

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,4953$1,6004$1,6005$1,680
$1,680
RENT COMPS ANALYSIS
  • 3207 Sunbright Lane Raleigh, NC 5
    • 4 beds 3 baths ∙ 2,255 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,255 Sqft ∙ Built 2008
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $0.75
    •  
  • 3004 Maidenhair Drive Raleigh, NC 1
    • 4 beds 3 baths ∙ 2,007 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,007 Sqft ∙ Built 2016
    LEASED 10/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.72
    •  
  • 3305 Sunbright Lane Raleigh, NC 2
    • 4 beds 3 baths ∙ 2,168 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,168 Sqft ∙ Built 2007
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.69
    •  
  • 2643 Quarry Springs Road Raleigh, NC 3
    • 3 beds 3 baths ∙ 2,058 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,058 Sqft ∙ Built 2004
    LEASED 06/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.78
    •  
  • 1657 Brown Owl Drive Raleigh, NC 4
    • 4 beds 3 baths ∙ 2,134 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,134 Sqft ∙ Built 2005
    LEASED 07/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.75
    •  
PROPERTY LISTING DETAILS
Bre Booker Rouse
1.919.612.9584
Transition Realty Group
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2351568
Last Updated: 11/02/2020
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