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3421 Baugh Street Raleigh, NC 27604

3 Beds 3 Baths 1,856 sqft Built 1995

$237,900

List Price

$1,470

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1995
  • Price/Sqft : $128.18
  • 4 Days on Market
  • MLS # : 2353384
  • Updated Date : 11/13/2020 at 21:49
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,856 sqft
  • Baths : 2 full , 1 half
Listing Agent

Weichert Realtors- Triangle

Listing Agent's Description

COMING SOON : This home is priced to sell! Home being sold "AS IS." Exterior of home needs some repairs and TLC therefore home is priced to reflect much needed attention. Master on main with large walk-in closet. Total of 3 BR's and 2 1/2 Baths. Gas Dryer and washing machine stays. The back deck overlooks a huge naturally wooded back yard. Relax while listening to the relaxing sound of the nearby flowing stream! Hard to believe this property is in the city limits. Very private lot. Great Neighborhood.

SEE MORE

MARKET HIGHLIGHTS

  • 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
  • One of Top 10 cities for Small Business Friendliness (Thumbtack, 2018)

PRICE & RENT TRENDS

Neighborhood: Starmount

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $107k277k

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

Neighborhood: Starmount

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q27008009001000110012001300140015001600Rent in $6891630

* 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
Wilburn Elementary School Primary Regular 691 50 2
Durant Road Middle School Middle Regular 1,245 78 5
Heritage High School High Regular 1,910 107 7

Wilburn Elementary School

  • Education Level: Primary
  • # of students: 691
  • # of teachers: 50
2
GreatSchools Rating

Durant Road Middle School

  • Education Level: Middle
  • # of students: 1,245
  • # of teachers: 78
5
GreatSchools Rating

Heritage High School

  • Education Level: High
  • # of students: 1,910
  • # of teachers: 107
7
GreatSchools Rating
 

$214,110$261,690$237,900

PURCHASE PRICE

$1,323$1,617$1,470

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,470
EXPENSES Loan Payment -$878
Property Tax -$209
Property Insurance -$63
Property Management Fees -$132
CASH FLOW
$187

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.

$237,900

PROJECTED PRICE

$1,470

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 5.4%
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$800k

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$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$68,794

INVESTMENT

$68,794

Down Payment
$59,475
Rehab Estimate
$5,750
Closing Costs
$3,569

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$878

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $59,475
Loan Amount $178,425
See What Happens When You Reinvest Cash Flow

8.58

YEARS SAVED

$33,087

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,470

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $1,513

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,4003$1,4704$1,4955$1,600
$1,600
RENT COMPS ANALYSIS
  • 3421 Baugh Street Raleigh, NC 3
    • 3 beds 3 baths ∙ 1,856 Sqft ∙ Built 1995 3 beds 3 baths ∙ 1,856 Sqft ∙ Built 1995
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,470
    • $0.79
    •  
  • 3909 Iron Horse Road Raleigh, NC 1
    • 3 beds 3 baths ∙ 1,680 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,680 Sqft ∙ Built 1986
    property image
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.83
    •  
  • 3717 Sue Ellen Drive Raleigh, NC 2
    • 3 beds 3 baths ∙ 1,621 Sqft ∙ Built 1976 3 beds 3 baths ∙ 1,621 Sqft ∙ Built 1976
    property image
    LEASED 08/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.86
    •  
  • 4015 Oatgrass Lane Raleigh, NC 4
    • 3 beds 3 baths ∙ 1,868 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,868 Sqft ∙ Built 2004
    property image
    LEASED 01/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.80
    •  
  • 4400 Easthampton Drive Raleigh, NC 5
    • 4 beds 3 baths ∙ 2,067 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,067 Sqft ∙ Built 1992
    property image
    LEASED 02/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.77
    •  
PROPERTY LISTING DETAILS
Brian James
1.919.426.5465
Weichert Realtors- Triangle
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2353384
Last Updated: 11/13/2020
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