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PROPERTY INFO
FACTS
- Single Family
- Built In 2006
- Price/Sqft : $162.43
- 3 Days on Market
- MLS # : 2362889
- Updated Date : 01/23/2021 at 17:57
CONSTRUCTION
- Beds : 3
- Floor Size : 1,693 sqft
- Baths : 2 full , 1 half
Listing Agent
Juhua Morrison Realty
Listing Agent's Description
Location! Location! Location! A big pond is just behind this property, providing an amazing view of water from all rooms of the family room, dining room, kitchen, and two bedrooms. The fresh painting and new flooring are through-out the house. An open floor plan for the living spaces on the main level; The master bedroom has a big walking closet. New AC units in 2020; Transferable termite bond. The refrigerator, washer & dryer will convey. Virtual tour: https://app.cloudpano.com/tours/4IO48roRR?mls=1
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)
- #7 Best Big City for Jobs 2018 (Forbes, 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
- One of Top 10 cities for Small Business Friendliness (Thumbtack, 2018)
PRICE & RENT TRENDS
Neighborhood: Windcrest
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Windcrest
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,540 |
| EXPENSES | Loan Payment | -$955 |
| Property Tax | -$222 | |
| Property Insurance | -$60 | |
| HOA | -$36 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$147
|
||
This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 16% of earned rent to cover both maintenance and periods of vacancy.
$275,000
PROJECTED PRICE
$1,540
PROJECTED RENT
0.56%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.33% |
| Appreciation Year (1-5) | 5.1% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 7.51% |
| 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
$78,625
LOAN DETAILS
$955
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $68,750 |
| Loan Amount | $206,250 |
9
YEARS SAVED
$33,361
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,540
LIST RENT -
$0.91
LIST RENT PER SQFT
-
$1,536
COMP ESTIMATED VALUE -
$0.91
COMP AVG. RENT PER SQFT
Comps Range
-
349 Apple Drupe Way Holly Springs, NC 2
- 3 beds 3 baths ∙ 1,693 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,693 Sqft ∙ Built 2006
- Rent
- Rent Per SQFT
- $1,540
- $0.91
-
233 Milpass Drive Holly Springs, NC 1
- 3 beds 3 baths ∙ 1,676 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,676 Sqft ∙ Built 2005
LEASED 11/02/20- Rent
- Rent Per SQFT
- $1,450
- $0.87
-
309 Palmdale Court Holly Springs, NC 3
- 3 beds 3 baths ∙ 1,727 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,727 Sqft ∙ Built 2005
LEASED 11/10/20- Rent
- Rent Per SQFT
- $1,549
- $0.90
-
240 Milpass Drive Holly Springs, NC 4
- 3 beds 3 baths ∙ 1,670 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,670 Sqft ∙ Built 2005
LEASED 07/30/20- Rent
- Rent Per SQFT
- $1,595
- $0.96
-
217 Milpass Drive Holly Springs, NC 5
- 3 beds 3 baths ∙ 1,833 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,833 Sqft ∙ Built 2005
LEASED 01/15/21- Rent
- Rent Per SQFT
- $1,650
- $0.90
PROPERTY LISTING DETAILS
1.919.448.6065
Juhua Morrison Realty
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
MLS #: 2362889
Last Updated: 01/23/2021
