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

325 Faison Drive Knightdale, NC 27545

3 Beds 2 Baths 1,157 sqft Built 1976

$198,900

List Price

$1,240

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

December 26, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1976
  • Price/Sqft : $171.91
  • 4 Days on Market
  • MLS # : 2359102
  • Updated Date : 12/26/2020 at 17:08
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,157 sqft
  • Baths : 2 full
Listing Agent

Dash Carolina

Listing Agent's Description

Beautiful 3 bedroom, 2 bathroom home in Knightdale! This sought-after ranch style home offers a spacious living room, eat-in kitchen, and detached garage with an additional storage building. A large window in the living room fills the living space with natural light. Flow into the eat-in kitchen, offering ample cabinet space before heading to the privacy of the primary bedroom and en-suite bathroom, which is located just down the hall from 2 guests bedrooms. Located near I-540 for convenient commuting!

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: Oakwood Acres

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $95k265k

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

Neighborhood: Oakwood Acres

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2900100011001200130014001500Rent in $8231595

* 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
Knightdale Elementary School Primary Regular 750 54 NA
East Wake Middle School Middle Regular 884 56 2
Knightdale High School High Regular 1,672 99 2

Knightdale Elementary School

  • Education Level: Primary
  • # of students: 750
  • # of teachers: 54
NA
GreatSchools Rating

East Wake Middle School

  • Education Level: Middle
  • # of students: 884
  • # of teachers: 56
2
GreatSchools Rating

Knightdale High School

  • Education Level: High
  • # of students: 1,672
  • # of teachers: 99
2
GreatSchools Rating
 

$179,010$218,790$198,900

PURCHASE PRICE

$1,116$1,364$1,240

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,240
EXPENSES Loan Payment -$734
Property Tax -$145
Property Insurance -$50
Property Management Fees -$119
CASH FLOW
$192

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.

$198,900

PROJECTED PRICE

$1,240

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 6.1%
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$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$58,459

INVESTMENT

$58,459

Down Payment
$49,725
Rehab Estimate
$5,750
Closing Costs
$2,984

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$734

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $49,725
Loan Amount $149,175
See What Happens When You Reinvest Cash Flow

10.58

YEARS SAVED

$36,368

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,240

    LIST RENT
  • $1.07

    LIST RENT PER SQFT
  • $1,080

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,200
1$1,2002$1,2403$1,3504$1,400
$1,400
RENT COMPS ANALYSIS
  • 325 Faison Drive Knightdale, NC 2
    • 3 beds 2 baths ∙ 1,157 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,157 Sqft ∙ Built 1976
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,240
    • $1.07
    •  
  • 402 Kelley Meadows Road Knightdale, NC 1
    • 3 beds 2 baths ∙ 1,285 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,285 Sqft ∙ Built 1991
    property image
    LEASED 12/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.93
    •  
  • 5112 Cottage Bluff Lane Knightdale, NC 3
    • 3 beds 3 baths ∙ 1,500 Sqft ∙ Built 1994 3 beds 3 baths ∙ 1,500 Sqft ∙ Built 1994
    property image
    LEASED 06/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.90
    •  
  • 5321 Baywood Forest Drive Knightdale, NC 4
    • 3 beds 3 baths ∙ 1,440 Sqft ∙ Built 1993 3 beds 3 baths ∙ 1,440 Sqft ∙ Built 1993
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.97
    •  
PROPERTY LISTING DETAILS
Quentin Dane
Dash Carolina
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2359102
Last Updated: 12/26/2020
BESbswy