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4104 Old Coach Road Raleigh, NC 27616

3 Beds 2 Baths 1,409 sqft Built 1993

$214,900

List Price

$1,230

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

December 01, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1993
  • Price/Sqft : $152.52
  • 6 Days on Market
  • MLS # : 2355796
  • Updated Date : 12/04/2020 at 17:26
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,409 sqft
  • Baths : 2 full
Listing Agent

Offerpad Brokerage Llc

Listing Agent's Description

VACANT! VACANT!! Adorable ranch located on a cul de sac lot has so much to offer! Updated lighting/fans throughout, new carpet, fresh paint, tile floor in Master bath, WIC, cozy wood burning fireplace, deck, storage shed & rocking chair front porch make this a home not to be missed! Convenient location close to highways & shopping!

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
  • One of Top 10 cities for Small Business Friendliness (Thumbtack, 2018)
  • #7 Best Big City for Jobs 2018 (Forbes, 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: Cobblestone

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $107k277k

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

Neighborhood: Cobblestone

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q28009001000110012001300140015001600Rent in $7261630

* 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
River Bend Elementary School Primary Regular 839 62 5
River Bend Middle School Middle Regular NA
Rolesville High School High Regular 1,200 69 NA

River Bend Elementary School

  • Education Level: Primary
  • # of students: 839
  • # of teachers: 62
5
GreatSchools Rating

River Bend Middle School

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

Rolesville High School

  • Education Level: High
  • # of students: 1,200
  • # of teachers: 69
NA
GreatSchools Rating
 

$193,410$236,390$214,900

PURCHASE PRICE

$1,107$1,353$1,230

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,230
EXPENSES Loan Payment -$793
Property Tax -$176
Property Insurance -$55
Property Management Fees -$119
CASH FLOW
$87

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.

$214,900

PROJECTED PRICE

$1,230

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 5.7%
Maintenance Year (1-5) 8.00%
Vacancy 7.47%
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

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$62,699

INVESTMENT

$62,699

Down Payment
$53,725
Rehab Estimate
$5,750
Closing Costs
$3,224

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$793

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $53,725
Loan Amount $161,175
See What Happens When You Reinvest Cash Flow

7.75

YEARS SAVED

$25,240

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,230

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,229

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,195
1$1,1952$1,2303$1,2504$1,3005$1,400
$1,400
RENT COMPS ANALYSIS
  • 4104 Old Coach Road Raleigh, NC 2
    • 3 beds 2 baths ∙ 1,409 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,409 Sqft ∙ Built 1993
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,230
    • $0.87
    •  
  • 3513 Rigel Court Raleigh, NC 1
    • 3 beds 2 baths ∙ 1,356 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,356 Sqft ∙ Built 1984
    property image
    LEASED 11/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $0.88
    •  
  • 3929 Falmouth Drive Raleigh, NC 3
    • 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1979
    property image
    LEASED 10/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.89
    •  
  • 4622 Vendue Range Drive Raleigh, NC 4
    • 3 beds 3 baths ∙ 1,506 Sqft ∙ Built 1995 3 beds 3 baths ∙ 1,506 Sqft ∙ Built 1995
    property image
    LEASED 09/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.86
    •  
  • 3717 Sue Ellen Drive Raleigh, NC 5
    • 3 beds 3 baths ∙ 1,621 Sqft ∙ Built 1976 3 beds 3 baths ∙ 1,621 Sqft ∙ Built 1976
    property image
    LEASED 08/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.86
    •  
PROPERTY LISTING DETAILS
Derek Dickson
1.480.470.2210
Offerpad Brokerage Llc
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2355796
Last Updated: 12/04/2020
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