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PROPERTY INFO
FACTS
- Single Family
- Built In 1954
- Price/Sqft : $186.40
- 5 Days on Market
- MLS # : 2354173
- Updated Date : 11/19/2020 at 22:40
CONSTRUCTION
- Beds : 3
- Floor Size : 1,287 sqft
- Baths : 1 full
Listing Agent
Keller Williams Realty United
Listing Agent's Description
Well-maintained home central to Duke, UNC, RTP & RDU! Entertain friends outdoors on the beautiful deck in the spacious, fenced backyard under mature hardwoods. Hardwoods throughout most of this home. Low electric bills due to new insulation in attic and crawlspace. New roof in 2019 with 30-year architectural shingles. Deck replaced in 2015. Exterior painted 2019, interior 2020. Less than a mile from Durham's busiest public library, 1.5 miles to Third Fork Creek Trailhead, 3.5 miles to downtown Durham.
SEE MORE
- 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
- 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)
PRICE & RENT TRENDS
Neighborhood: Valley Run
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Valley Run
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,420 |
| EXPENSES | Loan Payment | -$885 |
| Property Tax | -$227 | |
| Property Insurance | -$52 | |
| Property Management Fees | -$128 | |
|
CASH FLOW
$129
|
||
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.
$239,900
PROJECTED PRICE
$1,420
PROJECTED RENT
0.59%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.28% |
| Appreciation Year (1-5) | 8.1% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 8.55% |
| 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
$69,324
LOAN DETAILS
$885
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $59,975 |
| Loan Amount | $179,925 |
7.5
YEARS SAVED
$27,270
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,420
LIST RENT -
$1.1
LIST RENT PER SQFT
-
COMP ESTIMATED VALUE -
COMP AVG. RENT PER SQFT
Comps Range
-
3331 Old Chapel Hill Road Durham, NC
- 3 beds 1 baths ∙ 1,287 Sqft ∙ Built 1954 3 beds 1 baths ∙ 1,287 Sqft ∙ Built 1954
![property image]()
- Rent
- Rent Per SQFT
- $1,420
- $1.10
PROPERTY LISTING DETAILS
1.919.960.1915
Keller Williams Realty United
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
MLS #: 2354173
Last Updated: 11/19/2020
