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PROPERTY INFO
FACTS
- Single Family
- Built In 1961
- Price/Sqft : $196.97
- 7 Days on Market
- MLS # : 2363226
- Updated Date : 01/25/2021 at 15:32
CONSTRUCTION
- Beds : 3
- Floor Size : 1,320 sqft
- Baths : 2 full
Listing Agent
Hearth And Home Realty, Llc
Listing Agent's Description
Amazing Ranch Style Home with detached garage AND Workshop/Carport on .46 acres! Home Features: 3Be/2Bath + Family Room with custom vintage brick wood burning fireplace with vintage wood beam mantle. Freshly painted throughout. The original hardwood floors are in great shape! The kitchen boasts original custom-made cabinets. Outdoor deck overlooks a beautiful backyard and is perfect or outdoor entertaining. There are many custom cabinets throughout home for storage including a Walk-in pantry!HVAC 2020!!
SEE MORE
- #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
- 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: New Hope Acres
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: New Hope Acres
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,380 |
| EXPENSES | Loan Payment | -$903 |
| Property Tax | -$192 | |
| Property Insurance | -$53 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$113
|
||
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.
$260,000
PROJECTED PRICE
$1,380
PROJECTED RENT
0.53%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.78% |
| Appreciation Year (1-5) | 5.4% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 7.49% |
| 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
$74,650
LOAN DETAILS
$903
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $65,000 |
| Loan Amount | $195,000 |
8
YEARS SAVED
$26,768
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,380
LIST RENT -
$1.05
LIST RENT PER SQFT
-
$1,373
COMP ESTIMATED VALUE -
$1.04
COMP AVG. RENT PER SQFT
Comps Range
-
3810 Lee Road Raleigh, NC 5
- 3 beds 2 baths ∙ 1,320 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,320 Sqft ∙ Built 1961
- Rent
- Rent Per SQFT
- $1,380
- $1.05
-
3316 Barker Place Raleigh, NC 1
- 3 beds 2 baths ∙ 1,196 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,196 Sqft ∙ Built 1961
LEASED 07/30/20- Rent
- Rent Per SQFT
- $1,225
- $1.02
-
4808 Waterbury Road Raleigh, NC 2
- 3 beds 2 baths ∙ 1,216 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,216 Sqft ∙ Built 1972
LEASED 10/01/20- Rent
- Rent Per SQFT
- $1,295
- $1.06
-
4324 Woodlawn Drive Raleigh, NC 3
- 3 beds 2 baths ∙ 1,375 Sqft ∙ Built 1969 3 beds 2 baths ∙ 1,375 Sqft ∙ Built 1969
LEASED 03/13/20- Rent
- Rent Per SQFT
- $1,300
- $0.95
-
4505 Castlebar Drive Raleigh, NC 4
- 3 beds 2 baths ∙ 1,168 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,168 Sqft ∙ Built 1971
LEASED 06/23/20- Rent
- Rent Per SQFT
- $1,325
- $1.13
PROPERTY LISTING DETAILS
1.919.397.9791
Hearth And Home Realty, Llc
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
MLS #: 2363226
Last Updated: 01/25/2021
