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4212 Reddington Trail Raleigh, NC 27616

3 Beds 3 Baths 1,810 sqft Built 2001

$231,500

List Price

$1,450

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

December 26, 2020 RECENTLY ADDED
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

MARKET HIGHLIGHTS

  • 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

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $107k277k

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

Neighborhood: Brookstone

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q29001000110012001300140015001600Rent in $8101630

* 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
River Bend Elementary School Primary Regular 839 62 5
River Bend Middle School Middle Regular NA
Rolesville High School High Regular 1,200 69 NA

River Bend Elementary School

  • Education Level: Primary
  • # of students: 839
  • # of teachers: 62
5
GreatSchools Rating

River Bend Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Rolesville High School

  • Education Level: High
  • # of students: 1,200
  • # of teachers: 69
NA
GreatSchools Rating
 

$208,350$254,650$231,500

PURCHASE PRICE

$1,305$1,595$1,450

RENT

DOWN PAYMENT
FINANCING

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

ASSUMPTIONS

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
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$18k

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$67,098

INVESTMENT

$67,098

Down Payment
$57,875
Rehab Estimate
$5,750
Closing Costs
$3,473

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$854

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $57,875
Loan Amount $173,625
See What Happens When You Reinvest Cash Flow

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
$1,395
1$1,3952$1,4003$1,4504$1,4505$1,650
$1,650
RENT COMPS ANALYSIS
  • 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
C. Kelly Isdahl
1.919.931.0151
Oak City Realty Group
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2359094
Last Updated: 12/26/2020
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