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3521 Dechart Lane Raleigh, NC 27616

3 Beds 2 Baths 1,259 sqft Built 1994

INVESTimate

$225,000

List Price

$1,160

$1,044 - $1,276

Rent Est.

$237,803  ( +5.69%)   1 YR EST. FORECAST

PROPERTY INFO

August 26, 2020 RECENTLY ADDED
FACTS
  • Built In 1994
  • Price/Sqft : $178.71
  • 2 Days on Market
  • MLS # : 2339166
  • Updated Date : 08/26/2020 at 01:13
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,259 sqft
  • Baths : 2 full
Listing Agent

Exp Realty Llc

Listing Agent's Description

Welcome to this one level open concept beauty. NEW ROOF, NEW PAINT, NEW FIXTURES, NEW COUNTERS & BACKSPLASH, NEW LUXURY VINYL PLANKS, and less than 3 year old AC unit! Enjoy the open concept with vaulted ceilings that leads into the dining room surround by new wainscotting. The patio in the private back yard is great for entertaining. Minutes to shopping, dining, 40, 440, & 540. Go see for yourself!

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: Neuse Crossing

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $129k359k

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

Neighborhood: Neuse Crossing

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2900100011001200130014001500160017001800Rent in $8151873

* 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
 

$202,500$247,500$225,000

PURCHASE PRICE

$1,044$1,276$1,160

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,160
EXPENSES Loan Payment -$830
Property Tax -$166
Property Insurance -$52
HOA -$10
Property Management Fees -$104
CASH FLOW
-$2

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.

$225,000

PROJECTED PRICE

$1,160

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.33%
Appreciation Year (1-5) 5.69%
Maintenance Year (1-5) 8.00%
Vacancy 7.51%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$65,375

INVESTMENT

$65,375

Down Payment
$56,250
Rehab Estimate
$5,750
Closing Costs
$3,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$830

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $56,250
Loan Amount $168,750
See What Happens When You Reinvest Cash Flow

5.25

YEARS SAVED

$14,793

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,160

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,165

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,160
1$1,1602$1,2503$1,3004$1,3005$1,375
$1,375
RENT COMPS ANALYSIS
  • 3521 Dechart Lane Raleigh, 1
    • 3 beds 2 baths ∙ 1,259 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,259 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $1,160
    • $0.92
    •  
  • 7309 Perry Creek Road Raleigh, 2
    • 3 beds 2 baths ∙ 1,352 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,352 Sqft ∙ Built 1980
    LEASED 10/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.92
    •  
  • 3704 Turnbull Court Raleigh, 3
    • 3 beds 2 baths ∙ 1,420 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,420 Sqft ∙ Built 1994
    LEASED 02/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.92
    •  
  • 7500 Brighton Hill Lane Raleigh, 4
    • 3 beds 3 baths ∙ 1,399 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,399 Sqft ∙ Built 2001
    LEASED 04/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.93
    •  
  • 3516 Casine Court Wake Forest, 5
    • 3 beds 3 baths ∙ 1,485 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,485 Sqft ∙ Built 1985
    LEASED 04/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.93
    •  
PROPERTY LISTING DETAILS
Tiffany Maddux
1.919.413.0330
Exp Realty Llc
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2339166
Last Updated: 08/26/2020
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