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PROPERTY INFO
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
- 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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Oakwood Acres
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$58,459
LOAN DETAILS
$734
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $49,725 |
| Loan Amount | $149,175 |
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
-
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
Dash Carolina
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
MLS #: 2359102
Last Updated: 12/26/2020
