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PROPERTY INFO
FACTS
- Single Family
- Built In 2014
- Price/Sqft : $133.51
- 3 Days on Market
- MLS # : 2355438
- Updated Date : 11/27/2020 at 19:48
CONSTRUCTION
- Beds : 3
- Floor Size : 2,247 sqft
- Baths : 2 full , 1 half
Listing Agent
The Wardsworth Group
Listing Agent's Description
Just listed in Massey Preserve! 3 Bedroom + Loft, Open floor plan great for entertaining. Hardwood Floors throughout first level. Owner’s Bathroom has separate tiled Shower and Tub, dual vanity,WIC. Upstairs Laundry Room. Spacious Kitchen features Granite Counters, SS appliances, Island and Breakfast Area.Gas Fireplace. Screened Porch. Ceiling Fans in all rooms. Neighborhood has Pool & Playground. Conveniently located near Neuse River Trail. Shopping and Restaurants within a short drive.
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
- 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: Massey Preserve
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Massey Preserve
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,620 |
| EXPENSES | Loan Payment | -$1,107 |
| Property Tax | -$235 | |
| Property Insurance | -$71 | |
| HOA | -$50 | |
| Property Management Fees | -$146 | |
|
CASH FLOW
$11
|
||
This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 16% of earned rent to cover both maintenance and periods of vacancy.
$300,000
PROJECTED PRICE
$1,620
PROJECTED RENT
0.54%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.33% |
| Appreciation Year (1-5) | 3.8% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 7.51% |
| 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
$85,250
LOAN DETAILS
$1,107
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $75,000 |
| Loan Amount | $225,000 |
5.42
YEARS SAVED
$20,707
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,620
LIST RENT -
$0.72
LIST RENT PER SQFT
-
$1,646
COMP ESTIMATED VALUE -
$0.73
COMP AVG. RENT PER SQFT
Comps Range
-
4131 White Kestrel Drive Raleigh, NC 1
- 3 beds 3 baths ∙ 2,247 Sqft ∙ Built 2014 3 beds 3 baths ∙ 2,247 Sqft ∙ Built 2014
![property image]()
- Rent
- Rent Per SQFT
- $1,620
- $0.72
-
3932 Massey Pointe Court Raleigh, NC 2
- 4 beds 3 baths ∙ 2,400 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,400 Sqft ∙ Built 2017
![property image]()
LEASED 05/10/20- Rent
- Rent Per SQFT
- $1,650
- $0.69
-
3242 Landing Falls Lane Raleigh, NC 3
- 3 beds 3 baths ∙ 2,290 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,290 Sqft ∙ Built 2006
![property image]()
LEASED 09/16/20- Rent
- Rent Per SQFT
- $1,650
- $0.72
-
4106 White Kestrel Drive Raleigh, NC 4
- 3 beds 3 baths ∙ 2,208 Sqft ∙ Built 2014 3 beds 3 baths ∙ 2,208 Sqft ∙ Built 2014
![property image]()
LEASED 08/08/20- Rent
- Rent Per SQFT
- $1,675
- $0.76
-
3928 White Kestrel Drive Raleigh, NC 5
- 4 beds 3 baths ∙ 2,382 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,382 Sqft ∙ Built 2017
![property image]()
LEASED 09/11/20- Rent
- Rent Per SQFT
- $1,800
- $0.76
PROPERTY LISTING DETAILS
1.919.868.6447
The Wardsworth Group
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
MLS #: 2355438
Last Updated: 11/27/2020
