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PROPERTY INFO
FACTS
- Single Family
- Built In 1986
- Price/Sqft : $146.35
- 2 Days on Market
- MLS # : 2366739
- Updated Date : 02/14/2021 at 01:36
CONSTRUCTION
- Beds : 3
- Floor Size : 1,810 sqft
- Baths : 2 full
Listing Agent
Northside Realty Inc.
Listing Agent's Description
Single Family Home w 2 car carport*1st Flr Master BR w private enclosed deck*HVAC/Water Heater/Carpet 3 yo*kit features refin cabinets/new hardware, 2 year old SS appl*Lots of light*Stoned Patio 3 yo*Close to Sts of Southpoint & American Tobacco Trail & restaurants*Gas logs*High Vaulted Ceilings*Two owner home*HOA takes care of landscaping*Roof 2007*Some new interior paint & other paint is 3 yo*New Elongated/High Toilets*New Mirror & Vanity in US Bath*Ceramic Tiled Tub/Shower*Some new Light Fixtures*
SEE MORE
- 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: Whitney Park
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Whitney Park
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,660 |
| EXPENSES | Loan Payment | -$920 |
| Property Tax | -$229 | |
| Property Insurance | -$62 | |
| HOA | -$170 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$160
|
||
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.
$264,900
PROJECTED PRICE
$1,660
PROJECTED RENT
0.63%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.42% |
| Appreciation Year (1-5) | 4.6% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 8.51% |
| 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
$75,949
LOAN DETAILS
$920
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $66,225 |
| Loan Amount | $198,675 |
7.42
YEARS SAVED
$24,331
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,660
LIST RENT -
$0.92
LIST RENT PER SQFT
-
$1,679
COMP ESTIMATED VALUE -
$0.93
COMP AVG. RENT PER SQFT
Comps Range
-
402 Cottage Lane Durham, NC 2
- 3 beds 2 baths ∙ 1,810 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,810 Sqft ∙ Built 1986
- Rent
- Rent Per SQFT
- $1,660
- $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
-
6 Watergarden Way Durham, NC 3
- 3 beds 3 baths ∙ 1,950 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,950 Sqft ∙ Built 2004
LEASED 06/16/20- Rent
- Rent Per SQFT
- $1,750
- $0.90
-
8012 Morrell Lane Durham, NC 4
- 3 beds 3 baths ∙ 1,950 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,950 Sqft ∙ Built 2005
LEASED 02/07/20- Rent
- Rent Per SQFT
- $1,900
- $0.97
-
8003 Crenshaw Lane Durham, NC 5
- 3 beds 4 baths ∙ 2,160 Sqft ∙ Built 1999 3 beds 4 baths ∙ 2,160 Sqft ∙ Built 1999
LEASED 05/24/20- Rent
- Rent Per SQFT
- $1,950
- $0.90
PROPERTY LISTING DETAILS
1.919.264.6725
Northside Realty Inc.
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
MLS #: 2366739
Last Updated: 02/14/2021
