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3513 Cashew Drive Raleigh, NC 27616

3 Beds 3 Baths 2,454 sqft Built 2015

INVESTimate

$295,000

List Price

$1,640

$1,476 - $1,804

Rent Est.

$306,063  ( +3.75%)   1 YR EST. FORECAST

PROPERTY INFO

August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 2015
  • Price/Sqft : $120.21
  • 2 Days on Market
  • MLS # : 2339039
  • Updated Date : 08/25/2020 at 22:43
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,454 sqft
  • Baths : 2 full , 1 half
Listing Agent

Core Realty Advisors

Listing Agent's Description

Gorgeous Massey Preserve home! Covered front porch w stone front greets you! Inside you'll find engineered hardwoods, 1st floor private Office and fantastic Kitchen with Granite counters, SS appliances, upgraded back splash & 6-ft Island! All w/ views of large family room, covered patio area & fenced backyard. Upstairs you'll find a Master w/ trey ceiling, customized over-sized shower & 2 WICs, Loft/man cave and two comfortably sized guest bedrooms. Tons of storage and more! Community w/ pool & playground

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
  • #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)
  • 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

Neighborhood: Massey Preserve

NeighborhoodNIR Market*CityMarket2010Year20002019160k180k200k220k240k260k280k300k320k340kPrice in $153k359k

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

Neighborhood: Massey Preserve

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q211001200130014001500160017001800Rent in $10181873

* 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
Harris Creek Elementary School Primary Regular 1,025 67 4
Rolesville Middle School Middle Unknown 1,263 75 NA
Rolesville High School High Regular 1,200 69 NA

Harris Creek Elementary School

  • Education Level: Primary
  • # of students: 1,025
  • # of teachers: 67
4
GreatSchools Rating

Rolesville Middle School

  • Education Level: Middle
  • # of students: 1,263
  • # of teachers: 75
NA
GreatSchools Rating

Rolesville High School

  • Education Level: High
  • # of students: 1,200
  • # of teachers: 69
NA
GreatSchools Rating
 

$265,500$324,500$295,000

PURCHASE PRICE

$1,476$1,804$1,640

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$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$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,640
EXPENSES Loan Payment -$1,088
Property Tax -$244
Property Insurance -$75
HOA -$50
Property Management Fees -$148
CASH FLOW
$35

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.

$295,000

PROJECTED PRICE

$1,640

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.33%
Appreciation Year (1-5) 3.75%
Maintenance Year (1-5) 8.00%
Vacancy 7.51%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$83,925

INVESTMENT

$83,925

Down Payment
$73,750
Rehab Estimate
$5,750
Closing Costs
$4,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,088

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $73,750
Loan Amount $221,250
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$22,484

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,640

    LIST RENT
  • $0.67

    LIST RENT PER SQFT
  • $1,767

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$1,640
1$1,6402$1,6503$1,6504$1,6755$1,685
$1,685
RENT COMPS ANALYSIS
  • 3513 Cashew Drive Raleigh, 1
    • 3 beds 3 baths ∙ 2,454 Sqft ∙ Built 2015 3 beds 3 baths ∙ 2,454 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $1,640
    • $0.67
    •  
  • 3932 Massey Pointe Court Raleigh, 2
    • 4 beds 3 baths ∙ 2,400 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,400 Sqft ∙ Built 2017
    LEASED 05/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.69
    •  
  • 3242 Landing Falls Lane Raleigh, 3
    • 3 beds 3 baths ∙ 2,290 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,290 Sqft ∙ Built 2006
    LEASED 09/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.72
    •  
  • 4106 White Kestrel Drive Raleigh, 4
    • 3 beds 3 baths ∙ 2,208 Sqft ∙ Built 2014 3 beds 3 baths ∙ 2,208 Sqft ∙ Built 2014
    LEASED 08/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.76
    •  
  • 3950 Massey Wood Trail Raleigh, 5
    • 3 beds 3 baths ∙ 2,369 Sqft ∙ Built 2013 3 beds 3 baths ∙ 2,369 Sqft ∙ Built 2013
    LEASED 09/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,685
    • $0.71
    •  
PROPERTY LISTING DETAILS
Jennifer Crawford
1.919.909.4210
Core Realty Advisors
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2339039
Last Updated: 08/25/2020
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