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3405 Skybrook Lane Durham, NC 27703

4 Beds 3 Baths 2,132 sqft Built 2006

$289,999

List Price

$1,710

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

February 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $136.02
  • 4 Days on Market
  • MLS # : 2366379
  • Updated Date : 02/13/2021 at 00:05
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,132 sqft
  • Baths : 2 full , 1 half
Listing Agent

Amg Realty Llc

Listing Agent's Description

Gorgeous & Loaded with Charm and UPGRADES w/ Main Lvl BR in remarkable RTP Location! Decked Out w/ Classic Laminate Hardwood Flooring throughout Main Lvl (except BR), 2 Living Areas (Family Rm & Massive BONUS Loft), Great Storage, Gas Fireplace, Upgraded Fixtures, Newer HVAC (2018) & More! Spacious MBR Ste w/ WIC and Upgraded BA w/ Separate Tub/Shower! Spacious Kitchen w/ Pantry w/ Quick Access to Landscaped Backyard w/ Stone Patio - Perfect for Entertaining. Mins from Brier Creek & Shopping. Won't Last!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 27703

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $97k274k

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

Zip Code: 27703

ZipNIR Market*CityMarket2010Year2000 Q22019 Q290095010001050110011501200125013001350140014501500Rent in $8591518

* 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
Bethesda Elementary School Primary Regular 671 43 3
Lowe's Grove Magnet Middle School Middle Regular 708 47 3
Hillside High School High Regular 1,318 91 4

Bethesda Elementary School

  • Education Level: Primary
  • # of students: 671
  • # of teachers: 43
3
GreatSchools Rating

Lowe's Grove Magnet Middle School

  • Education Level: Middle
  • # of students: 708
  • # of teachers: 47
3
GreatSchools Rating

Hillside High School

  • Education Level: High
  • # of students: 1,318
  • # of teachers: 91
4
GreatSchools Rating
 

$260,999$318,999$289,999

PURCHASE PRICE

$1,539$1,881$1,710

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,710
EXPENSES Loan Payment -$1,007
Property Tax -$274
Property Insurance -$68
HOA -$20
Property Management Fees -$119
CASH FLOW
$222

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.

$289,999

PROJECTED PRICE

$1,710

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.11%
Appreciation Year (1-5) 4.8%
Maintenance Year (1-5) 8.00%
Vacancy 8.54%
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$82,600

INVESTMENT

$82,600

Down Payment
$72,500
Rehab Estimate
$5,750
Closing Costs
$4,350

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,007

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $72,500
Loan Amount $217,499
See What Happens When You Reinvest Cash Flow

9.42

YEARS SAVED

$38,090

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,710

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $1,786

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,7003$1,7104$1,7955$1,800
$1,800
RENT COMPS ANALYSIS
  • 3405 Skybrook Lane Durham, NC 3
    • 4 beds 3 baths ∙ 2,132 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,132 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,710
    • $0.80
    •  
  • 13 Beaver Creek Lane Durham, NC 1
    • 3 beds 3 baths ∙ 2,024 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,024 Sqft ∙ Built 2005
    LEASED 12/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.82
    •  
  • 3414 Skybrook Lane Durham, NC 2
    • 4 beds 3 baths ∙ 2,043 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,043 Sqft ∙ Built 2000
    LEASED 06/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.83
    •  
  • 3117 Skybrook Lane Durham, NC 4
    • 4 beds 3 baths ∙ 2,088 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,088 Sqft ∙ Built 2005
    LEASED 02/04/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.86
    •  
  • 3 Stirrup Lane Durham, NC 5
    • 3 beds 3 baths ∙ 2,149 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,149 Sqft ∙ Built 2004
    LEASED 06/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.84
    •  
PROPERTY LISTING DETAILS
Adam Grossman
1.919.451.5717
Amg Realty Llc
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2366379
Last Updated: 02/13/2021
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