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3517 Piedmont Drive Raleigh, NC 27604

3 Beds 2 Baths 1,327 sqft Built 1991

$230,000

List Price

$1,350

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1991
  • Price/Sqft : $173.32
  • 3 Days on Market
  • MLS # : 2354637
  • Updated Date : 11/20/2020 at 23:05
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,327 sqft
  • Baths : 2 full
Listing Agent

New Native Realty

Listing Agent's Description

Beautiful Home in Prime Raleigh Location! Open, spacious floor plan with vaulted ceilings in family room and master. This charming ranch has many updates including fresh paint, refinished hardwoods, new vinyl flooring, new carpet, granite countertops in kitchen and baths with undermount sinks, new dishwasher, new light fixtures and new faucets. The large master bath offers a garden tub and separate shower. The is a must see and will not last long.

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
  • 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)

PRICE & RENT TRENDS

Neighborhood: Trawick Downs

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $107k277k

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

Neighborhood: Trawick Downs

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q27008009001000110012001300140015001600Rent in $6231630

* 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
Durant Road Elementary School Primary Regular 977 63 4
Durant Road Middle School Middle Regular 1,245 78 5
Millbrook High School High Magnet 2,571 145 5

Durant Road Elementary School

  • Education Level: Primary
  • # of students: 977
  • # of teachers: 63
4
GreatSchools Rating

Durant Road Middle School

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

Millbrook High School

  • Education Level: High
  • # of students: 2,571
  • # of teachers: 145
5
GreatSchools Rating
 

$207,000$253,000$230,000

PURCHASE PRICE

$1,215$1,485$1,350

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,350
EXPENSES Loan Payment -$849
Property Tax -$171
Property Insurance -$53
Property Management Fees -$122
CASH FLOW
$156

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.

$230,000

PROJECTED PRICE

$1,350

PROJECTED RENT

0.59%

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$66,700

INVESTMENT

$66,700

Down Payment
$57,500
Rehab Estimate
$5,750
Closing Costs
$3,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$849

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $57,500
Loan Amount $172,500
See What Happens When You Reinvest Cash Flow

8.33

YEARS SAVED

$29,858

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,350

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $1,360

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$1,295
1$1,2952$1,2953$1,3504$1,3955$1,425
$1,425
RENT COMPS ANALYSIS
  • 3517 Piedmont Drive Raleigh, NC 3
    • 3 beds 2 baths ∙ 1,327 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,327 Sqft ∙ Built 1991
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.02
    •  
  • 3859 Pin Oak Road Raleigh, NC 1
    • 3 beds 3 baths ∙ 1,322 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,322 Sqft ∙ Built 2004
    LEASED 01/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.98
    •  
  • 3353 Neptune Drive Raleigh, NC 2
    • 3 beds 2 baths ∙ 1,257 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,257 Sqft ∙ Built 1998
    LEASED 05/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $1.03
    •  
  • 3504 E Jameson Road Raleigh, NC 4
    • 3 beds 3 baths ∙ 1,416 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,416 Sqft ∙ Built 1985
    LEASED 08/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.99
    •  
  • 3863 Pin Oak Road Raleigh, NC 5
    • 3 beds 3 baths ∙ 1,300 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,300 Sqft ∙ Built 2004
    LEASED 10/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $1.10
    •  
PROPERTY LISTING DETAILS
Jacquie Richards
1.919.694.3539
New Native Realty
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2354637
Last Updated: 11/20/2020
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