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PROPERTY INFO
FACTS
- Single Family
- Built In 2001
- Price/Sqft : $127.90
- 4 Days on Market
- MLS # : 2359094
- Updated Date : 12/26/2020 at 17:58
CONSTRUCTION
- Beds : 3
- Floor Size : 1,810 sqft
- Baths : 2 full , 1 half
Listing Agent
Oak City Realty Group
Listing Agent's Description
KICK OFF THE NEW YEAR WITH A NEW HOME! This 3 Bedroom/2.5 Bath home offers an Open Floorpan with 2 Story Foyer, Separate Living Room & Dining Room w/Laminate Floors, Gas Fireplace in FR. Large Kitchen with Tile Backsplash. OVERSIZED Master Bedroom Suite with Private Sitting area, Trey Ceiling, Connecting Master Bath with dual sinks & Garden Tub. Large Fenced Backyard with Patio. On Cul-De-Sac. Carpets Freshly Cleaned. Welcome Home! OFFER DEADLINE 6PM SUNDAY 12/27.
SEE MORE
- 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)
- 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
Neighborhood: Brookstone
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Brookstone
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,450 |
| EXPENSES | Loan Payment | -$854 |
| Property Tax | -$195 | |
| Property Insurance | -$62 | |
| HOA | -$16 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$204
|
||
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.
$231,500
PROJECTED PRICE
$1,450
PROJECTED RENT
0.63%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.76% |
| Appreciation Year (1-5) | 5.7% |
| 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
$67,098
LOAN DETAILS
$854
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $57,875 |
| Loan Amount | $173,625 |
10.08
YEARS SAVED
$39,133
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,450
LIST RENT -
$0.8
LIST RENT PER SQFT
-
$1,516
COMP ESTIMATED VALUE -
$0.84
COMP AVG. RENT PER SQFT
Comps Range
-
4212 Reddington Trail Raleigh, NC 4
- 3 beds 3 baths ∙ 1,810 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,810 Sqft ∙ Built 2001
- Rent
- Rent Per SQFT
- $1,450
- $0.80
-
3909 Iron Horse Road Raleigh, NC 1
- 3 beds 3 baths ∙ 1,680 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,680 Sqft ∙ Built 1986
LEASED 04/15/20- Rent
- Rent Per SQFT
- $1,395
- $0.83
-
5309 Wenesly Drive Raleigh, NC 2
- 3 beds 3 baths ∙ 1,628 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,628 Sqft ∙ Built 1990
LEASED 05/16/20- Rent
- Rent Per SQFT
- $1,400
- $0.86
-
4712 Tommans Trail Raleigh, NC 3
- 3 beds 3 baths ∙ 1,745 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,745 Sqft ∙ Built 2001
LEASED 05/01/20- Rent
- Rent Per SQFT
- $1,450
- $0.83
-
4905 Sweet Shade Trail Raleigh, NC 5
- 3 beds 3 baths ∙ 1,981 Sqft ∙ Built 2013 3 beds 3 baths ∙ 1,981 Sqft ∙ Built 2013
LEASED 07/01/20- Rent
- Rent Per SQFT
- $1,650
- $0.83
PROPERTY LISTING DETAILS
1.919.931.0151
Oak City Realty Group
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
MLS #: 2359094
Last Updated: 12/26/2020
