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3630 Brideveil Court Raleigh, NC 27610

4 Beds 3 Baths 1,993 sqft Built 2010

$238,000

List Price

$1,550

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 10, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2010
  • Price/Sqft : $119.42
  • 2 Days on Market
  • MLS # : 2360880
  • Updated Date : 01/10/2021 at 01:48
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,993 sqft
  • Baths : 2 full , 1 half
Listing Agent

Kw Realty Platinum

Listing Agent's Description

Beautiful, inviting, open-concept home. Gorgeous kitchen with granite countertops, gas range, and island. Four spacious and relaxing bedrooms with convenient upstairs laundry. Hard-to-find, landscaped, cul-de-sac lot with private, fenced-in backyard. Home is located close to shopping, dining, and all that downtown Raleigh has to offer.

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)
  • 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)
  • #7 Best Big City for Jobs 2018 (Forbes, 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: Tryon Place

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $107k277k

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

Neighborhood: Tryon Place

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q29001000110012001300140015001600Rent in $8231630

* 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
Middle Creek Elementary School Primary Regular 849 56 6
Holly Ridge Middle School Middle Regular 1,222 69 4
Middle Creek High School High Regular 2,249 120 7

Middle Creek Elementary School

  • Education Level: Primary
  • # of students: 849
  • # of teachers: 56
6
GreatSchools Rating

Holly Ridge Middle School

  • Education Level: Middle
  • # of students: 1,222
  • # of teachers: 69
4
GreatSchools Rating

Middle Creek High School

  • Education Level: High
  • # of students: 2,249
  • # of teachers: 120
7
GreatSchools Rating
 

$214,200$261,800$238,000

PURCHASE PRICE

$1,395$1,705$1,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,550
EXPENSES Loan Payment -$827
Property Tax -$209
Property Insurance -$66
HOA -$11
Property Management Fees -$119
CASH FLOW
$319

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.

$238,000

PROJECTED PRICE

$1,550

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 7.0%
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$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$68,820

INVESTMENT

$68,820

Down Payment
$59,500
Rehab Estimate
$5,750
Closing Costs
$3,570

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 25% down payment or higher enables the proceeds from the asset to cover all costs.

$827

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $59,500
Loan Amount $178,500
See What Happens When You Reinvest Cash Flow

12.17

YEARS SAVED

$45,044

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,550

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $1,594

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,535
1$1,5352$1,5503$1,5954$1,6005$1,695
$1,695
RENT COMPS ANALYSIS
  • 3630 Brideveil Court Raleigh, NC 2
    • 4 beds 3 baths ∙ 1,993 Sqft ∙ Built 2010 4 beds 3 baths ∙ 1,993 Sqft ∙ Built 2010
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.78
    •  
  • 3705 Morman Springs Lane Raleigh, NC 1
    • 4 beds 3 baths ∙ 1,925 Sqft ∙ Built 2011 4 beds 3 baths ∙ 1,925 Sqft ∙ Built 2011
    property image
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,535
    • $0.80
    •  
  • 3758 Burtons Barn Street Raleigh, NC 3
    • 4 beds 3 baths ∙ 2,042 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,042 Sqft ∙ Built 2006
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.78
    •  
  • 1013 Early Rise Street Raleigh, NC 4
    • 4 beds 3 baths ∙ 2,045 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,045 Sqft ∙ Built 2007
    property image
    LEASED 01/05/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.78
    •  
  • 2920 Maidenhair Drive Raleigh, NC 5
    • 3 beds 3 baths ∙ 2,018 Sqft ∙ Built 2016 3 beds 3 baths ∙ 2,018 Sqft ∙ Built 2016
    property image
    LEASED 01/05/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.84
    •  
PROPERTY LISTING DETAILS
Steven Burnett
1.864.633.8522
Kw Realty Platinum
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2360880
Last Updated: 01/10/2021
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