Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

414 Crestview Drive Durham, NC 27712

3 Beds 2 Baths 1,393 sqft Built 1966

$225,000

List Price

$1,390

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1966
  • Price/Sqft : $161.52
  • 4 Days on Market
  • MLS # : 2367599
  • Updated Date : 02/20/2021 at 16:12
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,393 sqft
  • Baths : 2 full
Listing Agent

Berkshire Hathaway Homeservice

Listing Agent's Description

Bright & charming traditional brick ranch in N. Durham. Nice size eat-in Kitchen w/newer dishwasher and smooth-top range. Hardwood flrs throughout the house. large living room with picture window. Family room off the back with view of large private yard & new deck in 2019. 3 bedrooms of nice size. All windows were replaced with vinyl windows a few years ago. Master bath was redone few yrs ago. The heating system replaced in 2019. A/C replaced in 2017. Selling "as is".

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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
  • #7 Best Big City for Jobs 2018 (Forbes, 2018)
  • Major employers in Raleigh area: IBM, Cisco systems, Fidelity Investments, GlaxoSmithKline, RTI International

PRICE & RENT TRENDS

Zip Code: 27712

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $106k303k

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

Zip Code: 27712

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
Eno Valley Elementary School Primary Regular 592 43 2
Carrington Middle School Middle Regular 1,094 72 4
Northern High School High Regular 1,448 83 3

Eno Valley Elementary School

  • Education Level: Primary
  • # of students: 592
  • # of teachers: 43
2
GreatSchools Rating

Carrington Middle School

  • Education Level: Middle
  • # of students: 1,094
  • # of teachers: 72
4
GreatSchools Rating

Northern High School

  • Education Level: High
  • # of students: 1,448
  • # of teachers: 83
3
GreatSchools Rating
 

$202,500$247,500$225,000

PURCHASE PRICE

$1,251$1,529$1,390

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,390
EXPENSES Loan Payment -$782
Property Tax -$195
Property Insurance -$54
Property Management Fees -$119
CASH FLOW
$241

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.

$225,000

PROJECTED PRICE

$1,390

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.42%
Appreciation Year (1-5) 5.3%
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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$65,375

INVESTMENT

$65,375

Down Payment
$56,250
Rehab Estimate
$5,750
Closing Costs
$3,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$782

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $56,250
Loan Amount $168,750
See What Happens When You Reinvest Cash Flow

10.42

YEARS SAVED

$34,101

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,390

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $1,379

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,3903$1,595
$1,595
RENT COMPS ANALYSIS
  • 414 Crestview Drive Durham, NC 2
    • 3 beds 2 baths ∙ 1,393 Sqft ∙ Built 1966 3 beds 2 baths ∙ 1,393 Sqft ∙ Built 1966
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,390
    • $1.00
    •  
  • 301 Cheryl Avenue Durham, NC 1
    • 3 beds 2 baths ∙ 1,534 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,534 Sqft ∙ Built 1964
    property image
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.88
    •  
  • 625 Wendy Way Durham, NC 3
    • 3 beds 2 baths ∙ 1,456 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,456 Sqft ∙ Built 1981
    property image
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.10
    •  
PROPERTY LISTING DETAILS
Micki Stewart
1.919.423.6338
Berkshire Hathaway Homeservice
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2367599
Last Updated: 02/20/2021
BESbswy