Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

401 Buck Jones Road Raleigh, NC 27606

4 Beds 2 Baths 1,861 sqft Built 1970

$275,000

List Price

$1,600

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

February 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1970
  • Price/Sqft : $147.77
  • 7 Days on Market
  • MLS # : 2365744
  • Updated Date : 02/13/2021 at 11:01
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,861 sqft
  • Baths : 2 full
Listing Agent

Raleigh Cary Realty Inc.

Listing Agent's Description

Great 4 bedroom home minutes from Crossroads. This is a split level home has been recently painted Kitchen remodeled in 2015 and features Granite countertops and backsplash and is completed with Stainless Steel Appliances. Custom wood blinds on the main floor. Hardwoods in the kitchen, dining and living rooms. Ceiling fans and light fixtures updated throughout. Custom Steel Entry doors installed on all entrances. New HVAC in 2013 and New Windows in 2008. Wood burning fireplace on the lower level

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

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k359k

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

Neighborhood: Roylene Acres

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2700800900100011001200130014001500160017001800Rent in $6721873

* 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
Adams Elementary School Primary Regular 777 56 4
East Cary Middle School Middle Regular 933 61 6
Athens Drive High School High Regular 1,884 119 6

Adams Elementary School

  • Education Level: Primary
  • # of students: 777
  • # of teachers: 56
4
GreatSchools Rating

East Cary Middle School

  • Education Level: Middle
  • # of students: 933
  • # of teachers: 61
6
GreatSchools Rating

Athens Drive High School

  • Education Level: High
  • # of students: 1,884
  • # of teachers: 119
6
GreatSchools Rating
 

$247,500$302,500$275,000

PURCHASE PRICE

$1,440$1,760$1,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,600
EXPENSES Loan Payment -$955
Property Tax -$203
Property Insurance -$62
Property Management Fees -$119
CASH FLOW
$261

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 16% of earned rent to cover both maintenance and periods of vacancy.

$275,000

PROJECTED PRICE

$1,600

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.33%
Appreciation Year (1-5) 5.6%
Maintenance Year (1-5) 8.00%
Vacancy 7.51%
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$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,625

INVESTMENT

$78,625

Down Payment
$68,750
Rehab Estimate
$5,750
Closing Costs
$4,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$955

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $68,750
Loan Amount $206,250
See What Happens When You Reinvest Cash Flow

11.17

YEARS SAVED

$45,619

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,600

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,547

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,295
1$1,2952$1,2953$1,4254$1,4955$1,600
$1,600
RENT COMPS ANALYSIS
  • 401 Buck Jones Road Raleigh, NC 5
    • 4 beds 2 baths ∙ 1,794 Sqft ∙ Built 1970 4 beds 2 baths ∙ 1,794 Sqft ∙ Built 1970
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.89
    •  
  • 1057 Dunsford Place Cary, NC 1
    • 3 beds 2 baths ∙ 1,550 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,550 Sqft ∙ Built 1973
    property image
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.84
    •  
  • 203 Jones Franklin Road Raleigh, NC 2
    • 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 1950 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 1950
    property image
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.81
    •  
  • 6019 Hillsborough Street Raleigh, NC 3
    • 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1975
    property image
    LEASED 04/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $0.95
    •  
  • 1525 Delmont Drive Raleigh, NC 4
    • 3 beds 2 baths ∙ 1,768 Sqft ∙ Built 1968 3 beds 2 baths ∙ 1,768 Sqft ∙ Built 1968
    property image
    LEASED 10/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.85
    •  
PROPERTY LISTING DETAILS
Jim Odonnell
1.919.610.7612
Raleigh Cary Realty Inc.
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2365744
Last Updated: 02/13/2021
BESbswy