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PROPERTY INFO
FACTS
- Single Family
- Built In 1977
- Price/Sqft : $163.43
- 3 Days on Market
- MLS # : 2367733
- Updated Date : 02/20/2021 at 14:04
CONSTRUCTION
- Beds : 3
- Floor Size : 1,162 sqft
- Baths : 2 full
Listing Agent
Exp Realty
Listing Agent's Description
Remodeled and Move In Ready! Brand New Roof, New Front Porch, New Lighting Throughout! Fresh New Kitchen with Quartz Countertops and New Cabinets. Updated Baths with New Vanities, Shower Surrounds and Fixtures. Den/Flex Room Could Easily Be a 4th Bedroom! In the Heart of Wake Forest! Run and Don't Miss This Opportunity! Showings Start Saturday 2/20.
SEE MORE
- 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
- #7 Best Big City for Jobs 2018 (Forbes, 2018)
- Major employers in Raleigh area: IBM, Cisco systems, Fidelity Investments, GlaxoSmithKline, RTI International
PRICE & RENT TRENDS
Neighborhood: Northeast Wake Forest
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Northeast Wake Forest
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,160 |
| EXPENSES | Loan Payment | -$660 |
| Property Tax | -$149 | |
| Property Insurance | -$50 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$182
|
||
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.
$189,900
PROJECTED PRICE
$1,160
PROJECTED RENT
0.61%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.78% |
| Appreciation Year (1-5) | 4.1% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 7.49% |
| 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
$56,074
LOAN DETAILS
$660
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $47,475 |
| Loan Amount | $142,425 |
10.5
YEARS SAVED
$29,307
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,160
LIST RENT -
$1.01
LIST RENT PER SQFT
-
$1,054
COMP ESTIMATED VALUE -
$0.92
COMP AVG. RENT PER SQFT
Comps Range
-
339 E Pine Avenue Wake Forest, NC 1
- 3 beds 2 baths ∙ 1,152 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,152 Sqft ∙ Built 1977
![property image]()
- Rent
- Rent Per SQFT
- $1,160
- $1.01
-
309 Tillamook Drive Wake Forest, NC 2
- 3 beds 3 baths ∙ 1,470 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,470 Sqft ∙ Built 1997
![property image]()
LEASED 04/15/20- Rent
- Rent Per SQFT
- $1,300
- $0.88
-
506 Tyler Run Drive Wake Forest, NC 3
- 3 beds 2 baths ∙ 1,443 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,443 Sqft ∙ Built 1993
![property image]()
LEASED 03/14/20- Rent
- Rent Per SQFT
- $1,375
- $0.95
PROPERTY LISTING DETAILS
1.919.271.3399
Exp Realty
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
MLS #: 2367733
Last Updated: 02/20/2021
