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PROPERTY INFO
FACTS
- Single Family
- Built In 2006
- Price/Sqft : $152.05
- 18 Days on Market
- MLS # : 2356062
- Updated Date : 12/19/2020 at 17:13
CONSTRUCTION
- Beds : 3
- Floor Size : 1,973 sqft
- Baths : 2 full
Listing Agent
Triangle Premier Properties In
Listing Agent's Description
Beautiful well maintained home w/character & charm just steps from downtown Wendell in a wonderful smaller neighborhood. No HOA! Covered front and back porches w/patio overlooking private fenced backyard, 1st FLR MASTER w/beautiful remodeled bath! Well appointed kitchen with new stainless appliances, single bowl sink & pull down spray faucet open to family rm. with gas fp. and built in cabinets. Good size bedrms! Large walk in unfinish bonus for lots of storage” NEW ROOF and exterior paint and trim.
SEE MORE
- 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
- One of Top 10 cities for Small Business Friendliness (Thumbtack, 2018)
PRICE & RENT TRENDS
Neighborhood: Pepper Pointe
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Pepper Pointe
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,610 |
| EXPENSES | Loan Payment | -$1,107 |
| Property Tax | -$248 | |
| Property Insurance | -$66 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$71
|
||
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.
$300,000
PROJECTED PRICE
$1,610
PROJECTED RENT
0.54%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.76% |
| Appreciation Year (1-5) | 6.2% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 7.47% |
| 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 |
7.08
YEARS SAVED
$29,752
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,610
LIST RENT -
$0.82
LIST RENT PER SQFT
-
$1,618
COMP ESTIMATED VALUE -
$0.82
COMP AVG. RENT PER SQFT
Comps Range
-
417 Lemon Pepper Place Wendell, NC 2
- 3 beds 2 baths ∙ 1,973 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,973 Sqft ∙ Built 2006
![property image]()
- Rent
- Rent Per SQFT
- $1,610
- $0.82
-
61 Wood Green Drive Wendell, NC 1
- 4 beds 3 baths ∙ 1,954 Sqft ∙ Built 2015 4 beds 3 baths ∙ 1,954 Sqft ∙ Built 2015
![property image]()
LEASED 07/08/19- Rent
- Rent Per SQFT
- $1,600
- $0.82
PROPERTY LISTING DETAILS
1.919.427.3875
Triangle Premier Properties In
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
MLS #: 2356062
Last Updated: 12/19/2020
