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4205 Viewmont Drive Raleigh, NC 27610

4 Beds 3 Baths 1,945 sqft Built 2001

$229,900

List Price

$1,590

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 07, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $118.20
  • 7 Days on Market
  • MLS # : 2356792
  • Updated Date : 12/11/2020 at 14:03
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,945 sqft
  • Baths : 2 full , 1 half
Listing Agent

Howard Perry & Walston Realtor

Listing Agent's Description

Lovely 2-story transitional home - priced to sell AS-IS. Come see this 4BR, 2.5BA home w/ open floor plan & great room. New roof in 2020. Tankless water heater. Head outside and enjoy entertaining friends on the 445 sq ft 2-level deck or have a game of volleyball in the spacious backyard - one of the largest in the neighborhood! And when the grass is mown, store your gear in the 12x19 shed tucked in the back of the lot. Close proximity to Walnut Creek Amphitheater. Sellers providing 1-year home warranty.

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
  • #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)
  • 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: Riverbrooke

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $107k277k

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

Neighborhood: Riverbrooke

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q29001000110012001300140015001600Rent in $8231630

* 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
Walnut Creek Elementary School Primary Regular 818 49 NA
West Lake Middle School Middle Regular 1,344 77 6
Southeast Raleigh High School High Magnet 1,538 110 4

Walnut Creek Elementary School

  • Education Level: Primary
  • # of students: 818
  • # of teachers: 49
NA
GreatSchools Rating

West Lake Middle School

  • Education Level: Middle
  • # of students: 1,344
  • # of teachers: 77
6
GreatSchools Rating

Southeast Raleigh High School

  • Education Level: High
  • # of students: 1,538
  • # of teachers: 110
4
GreatSchools Rating
 

$206,910$252,890$229,900

PURCHASE PRICE

$1,431$1,749$1,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,590
EXPENSES Loan Payment -$848
Property Tax -$186
Property Insurance -$65
HOA -$19
Property Management Fees -$119
CASH FLOW
$353

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.

$229,900

PROJECTED PRICE

$1,590

PROJECTED RENT

0.69%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 4.6%
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$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

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$66,674

INVESTMENT

$66,674

Down Payment
$57,475
Rehab Estimate
$5,750
Closing Costs
$3,449

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 25% down payment or higher enables the proceeds from the asset to cover all costs.

$848

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $57,475
Loan Amount $172,425
See What Happens When You Reinvest Cash Flow

13.08

YEARS SAVED

$55,308

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,590

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $1,561

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,525
1$1,5252$1,5503$1,5754$1,5905$1,600
$1,600
RENT COMPS ANALYSIS
  • 4205 Viewmont Drive Raleigh, NC 4
    • 4 beds 3 baths ∙ 1,945 Sqft ∙ Built 2001 4 beds 3 baths ∙ 1,945 Sqft ∙ Built 2001
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,590
    • $0.82
    •  
  • 2516 Quarry Ridge Lane Raleigh, NC 1
    • 3 beds 3 baths ∙ 1,860 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,860 Sqft ∙ Built 2006
    property image
    LEASED 11/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.82
    •  
  • 3012 Tuckland Drive Raleigh, NC 2
    • 4 beds 3 baths ∙ 1,944 Sqft ∙ Built 2000 4 beds 3 baths ∙ 1,944 Sqft ∙ Built 2000
    property image
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.80
    •  
  • 3001 Hayling Drive Raleigh, NC 3
    • 4 beds 3 baths ∙ 1,944 Sqft ∙ Built 2001 4 beds 3 baths ∙ 1,944 Sqft ∙ Built 2001
    property image
    LEASED 05/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.81
    •  
  • 2643 Quarry Springs Road Raleigh, NC 5
    • 3 beds 3 baths ∙ 2,058 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,058 Sqft ∙ Built 2004
    property image
    LEASED 06/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.78
    •  
PROPERTY LISTING DETAILS
Lori Dillard
1.919.602.2411
Howard Perry & Walston Realtor
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2356792
Last Updated: 12/11/2020
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