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3540 Singleleaf Lane Raleigh, NC 27616

3 Beds 3 Baths 1,503 sqft Built 1992

$210,000

List Price

$1,370

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1992
  • Price/Sqft : $139.72
  • 3 Days on Market
  • MLS # : 2356372
  • Updated Date : 12/05/2020 at 22:22
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,503 sqft
  • Baths : 2 full , 1 half
Listing Agent

A Place To Call Home Real Estate Llc

Listing Agent's Description

The perfect home for that first time home buyer, fenced in back yard gives plenty of space for the dog and family. Granite counter tops with renovated kitchen, New decking patio as well as concrete patio. Storage shed ,new roof 2020, Water heater 2006 Built in bookshelves around fireplace. Close to I-540 and conveniently close to everywhere you want to be in North Wake County . RDU 20 minutes RTP 30 minutes Downtown 20 minutes

SEE MORE

MARKET HIGHLIGHTS

  • Major employers in Raleigh area: IBM, Cisco systems, Fidelity Investments, GlaxoSmithKline, RTI International
  • One of Top 10 cities for Small Business Friendliness (Thumbtack, 2018)
  • #7 Best Big City for Jobs 2018 (Forbes, 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)
  • 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

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
 

$189,000$231,000$210,000

PURCHASE PRICE

$1,233$1,507$1,370

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,370
EXPENSES Loan Payment -$775
Property Tax -$174
Property Insurance -$57
HOA -$10
Property Management Fees -$119
CASH FLOW
$236

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.

$210,000

PROJECTED PRICE

$1,370

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.33%
Appreciation Year (1-5) 5.7%
Maintenance Year (1-5) 8.00%
Vacancy 7.51%
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$18k

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$61,400

INVESTMENT

$61,400

Down Payment
$52,500
Rehab Estimate
$5,750
Closing Costs
$3,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$775

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $52,500
Loan Amount $157,500
See What Happens When You Reinvest Cash Flow

11.67

YEARS SAVED

$44,173

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,370

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,383

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,3003$1,3704$1,3755$1,595
$1,595
RENT COMPS ANALYSIS
  • 3540 Singleleaf Lane Raleigh, NC 3
    • 3 beds 3 baths ∙ 1,503 Sqft ∙ Built 1992 3 beds 3 baths ∙ 1,503 Sqft ∙ Built 1992
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,370
    • $0.91
    •  
  • 3704 Turnbull Court Raleigh, NC 1
    • 3 beds 2 baths ∙ 1,420 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,420 Sqft ∙ Built 1994
    property image
    LEASED 02/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.92
    •  
  • 7500 Brighton Hill Lane Raleigh, NC 2
    • 3 beds 3 baths ∙ 1,399 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,399 Sqft ∙ Built 2001
    property image
    LEASED 04/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.93
    •  
  • 3516 Casine Court Wake Forest, NC 4
    • 3 beds 3 baths ∙ 1,485 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,485 Sqft ∙ Built 1985
    property image
    LEASED 04/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.93
    •  
  • 7954 Willowglen Drive Raleigh, NC 5
    • 3 beds 3 baths ∙ 1,781 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,781 Sqft ∙ Built 2004
    property image
    LEASED 08/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.90
    •  
PROPERTY LISTING DETAILS
James Lloyd
1.919.696.6304
A Place To Call Home Real Estate Llc
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2356372
Last Updated: 12/05/2020
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