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409 Tinkerbell Road Chapel Hill, NC 27517

3 Beds 2 Baths 1,325 sqft Built 1966

$270,000

List Price

$1,560

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1966
  • Price/Sqft : $203.77
  • 3 Days on Market
  • MLS # : 2362993
  • Updated Date : 01/23/2021 at 23:06
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,325 sqft
  • Baths : 2 full
Listing Agent

Newstone Realty, Llc

Listing Agent's Description

Lovely Full-Brick Ranch with spacious Front & Rear Yards & Storage Shed set under mature trees. 3 BRs, 2 BAs. Golden oak HW floors in LR, DR, Hall & Master BR. Tile floors & walls w/tub/shower combo in both BAs. Large windows offer wonderful natural light; Built-ins & bookshelves; Smooth ceilings w/lighted fans in most rooms. Bright Kitchen w/tile floor, electric range w/built-in MW, oak cabinets, double porcelain sink, DW & Laundry Area. Pull-down Attic, Storage Shed, Gutters, Deck, Concrete Driveway.

SEE MORE

MARKET HIGHLIGHTS

  • 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
  • Major employers in Raleigh area: IBM, Cisco systems, Fidelity Investments, GlaxoSmithKline, RTI International
  • One of Top 10 cities for Small Business Friendliness (Thumbtack, 2018)

PRICE & RENT TRENDS

Neighborhood: Colony Woods

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $112k388k

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

Neighborhood: Colony Woods

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q210001100120013001400150016001700180019002000Rent in $9122092

* 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
Ephesus Elementary School Primary Regular 428 35 6
Phillips Middle School Middle Regular 621 52 8
East Chapel Hill High School High Regular 1,411 85 9

Ephesus Elementary School

  • Education Level: Primary
  • # of students: 428
  • # of teachers: 35
6
GreatSchools Rating

Phillips Middle School

  • Education Level: Middle
  • # of students: 621
  • # of teachers: 52
8
GreatSchools Rating

East Chapel Hill High School

  • Education Level: High
  • # of students: 1,411
  • # of teachers: 85
9
GreatSchools Rating
 

$243,000$297,000$270,000

PURCHASE PRICE

$1,404$1,716$1,560

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,560
EXPENSES Loan Payment -$938
Property Tax -$344
Property Insurance -$53
Property Management Fees -$119
CASH FLOW
$107

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.

$270,000

PROJECTED PRICE

$1,560

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.42%
Appreciation Year (1-5) 3.6%
Maintenance Year (1-5) 8.00%
Vacancy 8.51%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
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$16k

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$77,300

INVESTMENT

$77,300

Down Payment
$67,500
Rehab Estimate
$5,750
Closing Costs
$4,050

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$938

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $67,500
Loan Amount $202,500
See What Happens When You Reinvest Cash Flow

6.58

YEARS SAVED

$20,865

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,560

    LIST RENT
  • $1.18

    LIST RENT PER SQFT
  • $1,661

    COMP ESTIMATED VALUE
  • $1.25

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,5603$1,5954$1,725
$1,725
RENT COMPS ANALYSIS
  • 409 Tinkerbell Road Chapel Hill, NC 2
    • 3 beds 2 baths ∙ 1,325 Sqft ∙ Built 1966 3 beds 2 baths ∙ 1,325 Sqft ∙ Built 1966
    • Rent
    • Rent Per SQFT
    •  
    • $1,560
    • $1.18
    •  
  • 203 White Oak Drive Durham, NC 1
    • 3 beds 1 baths ∙ 1,040 Sqft ∙ Built 1960 3 beds 1 baths ∙ 1,040 Sqft ∙ Built 1960
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $1.25
    •  
  • 406 Hickory Chapel Hill, NC 3
    • 3 beds 3 baths ∙ 1,208 Sqft ∙ Built 1955 3 beds 3 baths ∙ 1,208 Sqft ∙ Built 1955
    LEASED 06/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.32
    •  
  • 1929 Fountain Ridge Chapel Hill, NC 4
    • 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 1969 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 1969
    LEASED 12/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $1.19
    •  
PROPERTY LISTING DETAILS
Steve Doyle
1.919.619.0192
Newstone Realty, Llc
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2362993
Last Updated: 01/23/2021
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