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4054 Laurel Glen Drive Raleigh, NC 27610

4 Beds 3 Baths 1,725 sqft Built 2007

$235,000

List Price

$1,550

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

February 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $136.23
  • 4 Days on Market
  • MLS # : 2365042
  • Updated Date : 02/04/2021 at 20:22
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,725 sqft
  • Baths : 2 full , 1 half
Listing Agent

Simply Southern Realty

Listing Agent's Description

Adorable 4 bed/2.5 bath in convenient Raleigh location. All new flooring t/o entire 1st floor. Living room has lots of natural light & fireplace w gas logs. Oversized kitchen w lots of cabinet space, sliders open to grill patio and flat rear lot. Lg laundry room off kitchen. Spacious master bedroom w vaulted ceilings, ensuite features dual vanities, shower, separate soaking tub & walk in closet. Close to I40/440, downtown Raleigh and Garner, White Oak Shopping w plenty of eateries/shopping. New roof 2021

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • #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

PRICE & RENT TRENDS

Neighborhood: Abbington Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $118k277k

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

Neighborhood: Abbington Ridge

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q29001000110012001300140015001600Rent in $8611630

* 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
East Garner Elementary School Primary Regular 637 41 4
East Garner Middle School Middle Magnet 1,361 83 4
South Garner High School High Unknown NA

East Garner Elementary School

  • Education Level: Primary
  • # of students: 637
  • # of teachers: 41
4
GreatSchools Rating

East Garner Middle School

  • Education Level: Middle
  • # of students: 1,361
  • # of teachers: 83
4
GreatSchools Rating

South Garner High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$211,500$258,500$235,000

PURCHASE PRICE

$1,395$1,705$1,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,550
EXPENSES Loan Payment -$816
Property Tax -$178
Property Insurance -$61
Property Management Fees -$119
CASH FLOW
$375

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.

$235,000

PROJECTED PRICE

$1,550

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 6.7%
Maintenance Year (1-5) 8.00%
Vacancy 7.49%
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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$68,025

INVESTMENT

$68,025

Down Payment
$58,750
Rehab Estimate
$5,750
Closing Costs
$3,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$816

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $58,750
Loan Amount $176,250
See What Happens When You Reinvest Cash Flow

13.33

YEARS SAVED

$49,931

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,550

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,501

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,345
1$1,3452$1,3953$1,4454$1,5505$1,555
$1,555
RENT COMPS ANALYSIS
  • 4054 Laurel Glen Drive Raleigh, NC 4
    • 4 beds 3 baths ∙ 1,725 Sqft ∙ Built 2007 4 beds 3 baths ∙ 1,725 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.90
    •  
  • 3940 Laurel Glen Drive Raleigh, NC 1
    • 3 beds 3 baths ∙ 1,550 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,550 Sqft ∙ Built 2003
    LEASED 10/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,345
    • $0.87
    •  
  • 5612 Advantis Drive Raleigh, NC 2
    • 3 beds 2 baths ∙ 1,589 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,589 Sqft ∙ Built 2001
    LEASED 03/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.88
    •  
  • 4016 Bearmont Place Raleigh, NC 3
    • 3 beds 3 baths ∙ 1,686 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,686 Sqft ∙ Built 2002
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,445
    • $0.86
    •  
  • 3836 Pine Barren Lane Raleigh, NC 5
    • 3 beds 3 baths ∙ 1,787 Sqft ∙ Built 2010 3 beds 3 baths ∙ 1,787 Sqft ∙ Built 2010
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,555
    • $0.87
    •  
PROPERTY LISTING DETAILS
Katie Sheriff
1.919.801.9697
Simply Southern Realty
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2365042
Last Updated: 02/04/2021
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