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PROPERTY INFO
FACTS
- Single Family
- Built In 1998
- Price/Sqft : $185.02
- 3 Days on Market
- MLS # : 2358562
- Updated Date : 12/18/2020 at 23:35
CONSTRUCTION
- Beds : 3
- Floor Size : 1,562 sqft
- Baths : 2 full , 1 half
Listing Agent
1800 Real Estate Inc.
Listing Agent's Description
Home sweet home! Charming home just 5 miles from Southpoint Mall! You'll love the nice updates here! Freshly painted, updated stainless steel appliances and even a new roof! Bright formal dining room, huge master bedroom, his & hers walk-in closets.
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)
- 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)
PRICE & RENT TRENDS
Zip Code: 27713
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 27713
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,400 |
| EXPENSES | Loan Payment | -$1,066 |
| Property Tax | -$250 | |
| Property Insurance | -$57 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
-$93
|
||
This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.
$289,000
PROJECTED PRICE
$1,400
PROJECTED RENT
0.48%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.42% |
| Appreciation Year (1-5) | 4.6% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 8.51% |
| 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
$82,335
LOAN DETAILS
$1,066
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $72,250 |
| Loan Amount | $216,750 |
3.5
YEARS SAVED
$10,495
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,400
LIST RENT -
$0.9
LIST RENT PER SQFT
-
$1,542
COMP ESTIMATED VALUE -
$0.99
COMP AVG. RENT PER SQFT
Comps Range
-
3610 Sana Court Durham, NC 1
- 3 beds 3 baths ∙ 1,562 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,562 Sqft ∙ Built 1998
- Rent
- Rent Per SQFT
- $1,400
- $0.90
-
3517 Abercromby Drive Durham, NC 2
- 3 beds 3 baths ∙ 1,500 Sqft ∙ Built 1992 3 beds 3 baths ∙ 1,500 Sqft ∙ Built 1992
LEASED 05/15/20- Rent
- Rent Per SQFT
- $1,500
- $1.00
-
6009 Coronado Lane Durham, NC 3
- 4 beds 3 baths ∙ 1,544 Sqft ∙ Built 2000 4 beds 3 baths ∙ 1,544 Sqft ∙ Built 2000
LEASED 05/27/20- Rent
- Rent Per SQFT
- $1,525
- $0.99
-
5105 Middleton Drive Durham, NC 4
- 3 beds 3 baths ∙ 1,800 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,800 Sqft ∙ Built 2002
LEASED 12/01/20- Rent
- Rent Per SQFT
- $1,725
- $0.96
-
5520 Lacy Road Durham, NC 5
- 3 beds 3 baths ∙ 1,794 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,794 Sqft ∙ Built 1985
LEASED 07/06/20- Rent
- Rent Per SQFT
- $1,795
- $1.00
PROPERTY LISTING DETAILS
1.919.475.8664
1800 Real Estate Inc.
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
MLS #: 2358562
Last Updated: 12/18/2020
