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3614 Mountain Brook Circle Durham, NC 27704

3 Beds 3 Baths 1,894 sqft Built 2006

$260,000

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $137.28
  • 5 Days on Market
  • MLS # : 2368635
  • Updated Date : 02/26/2021 at 21:21
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,894 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Preferred Realty

Listing Agent's Description

Charming Stillwood home! Home Features an open and inviting floor plan. The 2nd floor has a generous master suite and loft. In 2016 the a/c was replaced, 2019 new microwave and dishwasher, 2021 new roof and shutters.

SEE MORE

MARKET HIGHLIGHTS

  • #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)
  • 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: Northeast Durham

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260kPrice in $61k274k

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

Neighborhood: Northeast Durham

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2800900100011001200130014001500Rent in $7261518

* 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
Merrick-moore Elementary School Primary Regular 704 46 3
Neal Magnet Middle School Middle Regular 857 60 1
Southern School Of Energy And Sustainability High Regular 1,292 90 2

Merrick-moore Elementary School

  • Education Level: Primary
  • # of students: 704
  • # of teachers: 46
3
GreatSchools Rating

Neal Magnet Middle School

  • Education Level: Middle
  • # of students: 857
  • # of teachers: 60
1
GreatSchools Rating

Southern School Of Energy And Sustainability

  • Education Level: High
  • # of students: 1,292
  • # of teachers: 90
2
GreatSchools Rating
 

$234,000$286,000$260,000

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$903
Property Tax -$225
Property Insurance -$64
HOA -$33
Property Management Fees -$119
CASH FLOW
$306

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.

$260,000

PROJECTED PRICE

$1,650

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.28%
Appreciation Year (1-5) 6.0%
Maintenance Year (1-5) 8.00%
Vacancy 8.55%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,650

INVESTMENT

$74,650

Down Payment
$65,000
Rehab Estimate
$5,750
Closing Costs
$3,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$903

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $65,000
Loan Amount $195,000
See What Happens When You Reinvest Cash Flow

11.5

YEARS SAVED

$45,863

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,650

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,780

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,5753$1,6504$1,650
$1,650
RENT COMPS ANALYSIS
  • 3614 Mountain Brook Circle Durham, NC 4
    • 3 beds 3 baths ∙ 1,894 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,894 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.87
    •  
  • 1403 Glenbrittle Drive Durham, NC 1
    • 4 beds 3 baths ∙ 1,601 Sqft ∙ Built 2017 4 beds 3 baths ∙ 1,601 Sqft ∙ Built 2017
    LEASED 06/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.87
    •  
  • 5 Crescent Hill Court Durham, NC 2
    • 3 beds 3 baths ∙ 1,561 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,561 Sqft ∙ Built 2004
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $1.01
    •  
  • 806 Pebblestone Drive Durham, NC 3
    • 3 beds 3 baths ∙ 1,748 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,748 Sqft ∙ Built 2003
    LEASED 05/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.94
    •  
PROPERTY LISTING DETAILS
Temesha Lott
1.336.380.9029
Keller Williams Preferred Realty
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2368635
Last Updated: 02/26/2021
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