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3710 Four Seasons Drive Durham, NC 27707

4 Beds 1 Baths 1,114 sqft Built 1978

$199,000

List Price

$1,220

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1978
  • Price/Sqft : $178.64
  • 2 Days on Market
  • MLS # : 2357635
  • Updated Date : 12/12/2020 at 18:31
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,114 sqft
  • Baths : 1 full
Listing Agent

Hunter Rowe Real Estate Inc

Listing Agent's Description

Check out this great ranch home close to Southpoint, Downtown Durham and RTP! Features a custom kitchen with GRANITE countertops, glass tile back splash, and STAINLESS STEEL appliances. FRESH PAINT and NEW CARPET! Great fenced-in backyard perfect for entertaining with hardwoods as your back drop!

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: Fisher Heights

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220k240k260kPrice in $42k274k

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

Neighborhood: Fisher Heights

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2700800900100011001200130014001500Rent in $6401518

* 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
Fayetteville Street Elementary School Primary Regular 264 21 2
Lowe's Grove Magnet Middle School Middle Regular 708 47 3
Hillside High School High Regular 1,318 91 4

Fayetteville Street Elementary School

  • Education Level: Primary
  • # of students: 264
  • # of teachers: 21
2
GreatSchools Rating

Lowe's Grove Magnet Middle School

  • Education Level: Middle
  • # of students: 708
  • # of teachers: 47
3
GreatSchools Rating

Hillside High School

  • Education Level: High
  • # of students: 1,318
  • # of teachers: 91
4
GreatSchools Rating
 

$179,100$218,900$199,000

PURCHASE PRICE

$1,098$1,342$1,220

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,220
EXPENSES Loan Payment -$734
Property Tax -$172
Property Insurance -$49
Property Management Fees -$119
CASH FLOW
$146

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.

$199,000

PROJECTED PRICE

$1,220

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.28%
Appreciation Year (1-5) 3.6%
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$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$58,485

INVESTMENT

$58,485

Down Payment
$49,750
Rehab Estimate
$5,750
Closing Costs
$2,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$734

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $49,750
Loan Amount $149,250
See What Happens When You Reinvest Cash Flow

9.58

YEARS SAVED

$31,246

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,220

    LIST RENT
  • $1.1

    LIST RENT PER SQFT
  • $1,189

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$950
1$9502$1,2203$1,2954$1,2955$1,300
$1,300
RENT COMPS ANALYSIS
  • 3710 Four Seasons Drive Durham, NC 2
    • 4 beds 1 baths ∙ 1,114 Sqft ∙ Built 1978 4 beds 1 baths ∙ 1,114 Sqft ∙ Built 1978
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,220
    • $1.10
    •  
  • 1505 Wabash Street Durham, NC 1
    • 3 beds 1 baths ∙ 900 Sqft ∙ Built 1971 3 beds 1 baths ∙ 900 Sqft ∙ Built 1971
    property image
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $950
    • $1.06
    •  
  • 2317 Curtis Street Durham, NC 3
    • 4 beds 2 baths ∙ 1,251 Sqft ∙ Built 1971 4 beds 2 baths ∙ 1,251 Sqft ∙ Built 1971
    property image
    LEASED 11/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $1.04
    •  
  • 1305 Bacon Street Durham, NC 4
    • 3 beds 2 baths ∙ 1,190 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,190 Sqft ∙ Built 1972
    property image
    LEASED 08/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $1.09
    •  
  • 34 Yorkfield Court Durham, NC 5
    • 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1998
    property image
    LEASED 10/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $1.08
    •  
PROPERTY LISTING DETAILS
Christian Mashburn
1.828.557.1231
Hunter Rowe Real Estate Inc
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2357635
Last Updated: 12/12/2020
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