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4123 Tranquil Road Durham, NC 27713

3 Beds 2 Baths 1,271 sqft Built 1994

$189,999

List Price

$1,230

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

October 31, 2020 RECENTLY ADDED
FACTS
  • Built In 1994
  • Price/Sqft : $149.49
  • 5 Days on Market
  • MLS # : 2351390
  • Updated Date : 11/01/2020 at 16:45
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,271 sqft
  • Baths : 2 full
Listing Agent

Amg Realty Llc

Listing Agent's Description

Cute as a Button Ranch in Amazing 27713-Durham Location w/ FULLY Fenced Yard on Massive Corner Lot! Equipped w/ Large OPEN Living Area w/ Tile Foyer & Great Natural Light Throughout, Spacious Kitchen w/ Spacious Eat-In Area and Tile Backsplash w/ Quick Access to Spacious Back Deck -Perfect for Grilling & Entertaining! Incredible Flat Lot w/ Spacious Driveway in Established Community within Very Close Proximity to South Pointe Area, I40, Restaurants & More! Investor & 1st Time Buyer Alert! Won't Last Long!

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

Zip Code: 27713

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $106k303k

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

Zip Code: 27713

ZipNIR Market*CityMarket2010Year2000 Q22019 Q290010001100120013001400150016001700Rent in $8591734

* 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
Southwest Elementary School Primary Regular 666 44 4
Lowe's Grove Magnet Middle School Middle Regular 708 47 3
Hillside High School High Regular 1,318 91 4

Southwest Elementary School

  • Education Level: Primary
  • # of students: 666
  • # of teachers: 44
4
GreatSchools Rating

Lowe's Grove Magnet Middle School

  • Education Level: Middle
  • # of students: 708
  • # of teachers: 47
3
GreatSchools Rating

Hillside High School

  • Education Level: High
  • # of students: 1,318
  • # of teachers: 91
4
GreatSchools Rating
 

$170,999$208,999$189,999

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 -$701
Property Tax -$167
Property Insurance -$52
Property Management Fees -$111
CASH FLOW
$200

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.

$189,999

PROJECTED PRICE

$1,230

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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
11530$0.0$100k$200k$300k$400k$500k$600k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$56,100

INVESTMENT

$56,100

Down Payment
$47,500
Rehab Estimate
$5,750
Closing Costs
$2,850

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$701

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $47,500
Loan Amount $142,499
See What Happens When You Reinvest Cash Flow

9.25

YEARS SAVED

$29,154

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
  • $0.97

    LIST RENT PER SQFT
  • $1,328

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$1,230
1$1,2302$1,3003$1,4954$1,5005$1,550
$1,550
RENT COMPS ANALYSIS
  • 4123 Tranquil Road Durham, NC 1
    • 3 beds 3 baths ∙ 1,271 Sqft ∙ Built 1994 3 beds 3 baths ∙ 1,271 Sqft ∙ Built 1994
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,230
    • $0.97
    •  
  • 34 Yorkfield Court Durham, NC 2
    • 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1998
    property image
    LEASED 10/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $1.08
    •  
  • 4518 Dolwick Drive Durham, NC 3
    • 4 beds 2 baths ∙ 1,492 Sqft ∙ Built 1999 4 beds 2 baths ∙ 1,492 Sqft ∙ Built 1999
    property image
    LEASED 09/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.00
    •  
  • 4503 Nightfall Court Durham, NC 4
    • 4 beds 2 baths ∙ 1,492 Sqft ∙ Built 1999 4 beds 2 baths ∙ 1,492 Sqft ∙ Built 1999
    property image
    LEASED 08/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.01
    •  
  • 7 Grosbeak Lane Durham, NC 5
    • 3 beds 3 baths ∙ 1,422 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,422 Sqft ∙ Built 2002
    property image
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.09
    •  
PROPERTY LISTING DETAILS
Adam Grossman
1.919.451.5717
Amg Realty Llc
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2351390
Last Updated: 11/01/2020
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