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3907 Sturbridge Drive Durham, NC 27713

3 Beds 3 Baths 1,601 sqft Built 1989

$300,000

List Price

$1,480

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $187.38
  • 4 Days on Market
  • MLS # : 2367441
  • Updated Date : 02/18/2021 at 14:50
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,601 sqft
  • Baths : 2 full , 1 half
Listing Agent

Redfin Corporation

Listing Agent's Description

3BR Durham charmer, amazing location 27713 near Southpoint, great opportunity in this area, highly desired Hope Valley Farms subdivision, close to walking trails, shopping centers, etc. Fenced yard, NEW carpets 2018, brand new kitchen countertops and refinished cabinets, patio door replaced 2019. This one will not last long!

SEE MORE

MARKET HIGHLIGHTS

  • 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
  • #7 Best Big City for Jobs 2018 (Forbes, 2018)
  • Major employers in Raleigh area: IBM, Cisco systems, Fidelity Investments, GlaxoSmithKline, RTI International

PRICE & RENT TRENDS

Neighborhood: Hope Valley Farms

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $106k303k

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

Neighborhood: Hope Valley Farms

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q290010001100120013001400150016001700180019002000210022002300Rent in $8592314

* 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
Hope Valley Elementary School Primary Regular 640 48 2
Sherwood Githens Middle School Middle Regular 1,011 62 5
Charles E. Jordan High School High Regular 1,848 107 4

Hope Valley Elementary School

  • Education Level: Primary
  • # of students: 640
  • # of teachers: 48
2
GreatSchools Rating

Sherwood Githens Middle School

  • Education Level: Middle
  • # of students: 1,011
  • # of teachers: 62
5
GreatSchools Rating

Charles E. Jordan High School

  • Education Level: High
  • # of students: 1,848
  • # of teachers: 107
4
GreatSchools Rating
 

$270,000$330,000$300,000

PURCHASE PRICE

$1,332$1,628$1,480

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,480
EXPENSES Loan Payment -$1,042
Property Tax -$260
Property Insurance -$58
HOA -$20
Property Management Fees -$119
CASH FLOW
-$19

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.

$300,000

PROJECTED PRICE

$1,480

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.42%
Appreciation Year (1-5) 3.8%
Maintenance Year (1-5) 8.00%
Vacancy 8.51%
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$800k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$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$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,042

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $75,000
Loan Amount $225,000
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$13,474

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,480

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,497

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,4803$1,6504$1,6755$1,700
$1,700
RENT COMPS ANALYSIS
  • 3907 Sturbridge Drive Durham, NC 2
    • 3 beds 3 baths ∙ 1,601 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,601 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $1,480
    • $0.92
    •  
  • 718 Sleepy Creek Drive Durham, NC 1
    • 3 beds 3 baths ∙ 1,550 Sqft ∙ Built 1987 3 beds 3 baths ∙ 1,550 Sqft ∙ Built 1987
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.94
    •  
  • 10 Sugar Creek Drive Durham, NC 3
    • 4 beds 3 baths ∙ 1,720 Sqft ∙ Built 1994 4 beds 3 baths ∙ 1,720 Sqft ∙ Built 1994
    LEASED 08/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.96
    •  
  • 6 Kilbreth Avenue Durham, NC 4
    • 3 beds 3 baths ∙ 1,884 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,884 Sqft ∙ Built 1997
    LEASED 11/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.89
    •  
  • 4801 Tapestry Terrace Durham, NC 5
    • 4 beds 3 baths ∙ 1,789 Sqft ∙ Built 2001 4 beds 3 baths ∙ 1,789 Sqft ∙ Built 2001
    LEASED 02/17/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.95
    •  
PROPERTY LISTING DETAILS
Emily Devita
1.919.539.7673
Redfin Corporation
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2367441
Last Updated: 02/18/2021
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