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4220 Willowdale Court Apex, NC 27539

4 Beds 2 Baths 1,525 sqft Built 1990

$300,000

List Price

$1,350

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $196.72
  • 4 Days on Market
  • MLS # : 2367603
  • Updated Date : 02/19/2021 at 13:39
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,525 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Legacy

Listing Agent's Description

Adorable Home on Huge, Fenced-In Lot! Completely Move-in Ready w/ Fresh, Neutral Interior Paint & Neutral Flooring. Updated Kitchen w/ Granite Countertops & SS Appliances. Newer Roof! Get to where you need to go faster soon with the 540 extension closeby! Excellent School Choices!

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

Neighborhood: Pebblestone

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $133k370k

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

Neighborhood: Pebblestone

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2900100011001200130014001500160017001800Rent in $8761880

* 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
Banks Road Elementary School Primary Regular 699 48 6
West Lake Middle School Middle Regular 1,344 77 6
Middle Creek High School High Regular 2,249 120 7

Banks Road Elementary School

  • Education Level: Primary
  • # of students: 699
  • # of teachers: 48
6
GreatSchools Rating

West Lake Middle School

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

Middle Creek High School

  • Education Level: High
  • # of students: 2,249
  • # of teachers: 120
7
GreatSchools Rating
 

$270,000$330,000$300,000

PURCHASE PRICE

$1,215$1,485$1,350

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,350
EXPENSES Loan Payment -$1,042
Property Tax -$156
Property Insurance -$57
Property Management Fees -$119
CASH FLOW
-$23

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 16% of earned rent to cover both maintenance and periods of vacancy.

$300,000

PROJECTED PRICE

$1,350

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.33%
Appreciation Year (1-5) 4.4%
Maintenance Year (1-5) 8.00%
Vacancy 7.51%
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-$2.0k$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$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,042

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $75,000
Loan Amount $225,000
See What Happens When You Reinvest Cash Flow

5.92

YEARS SAVED

$20,052

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,350

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,322

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,295
1$1,2952$1,3503$1,5004$1,550
$1,550
RENT COMPS ANALYSIS
  • 4220 Willowdale Court Apex, NC 2
    • 4 beds 2 baths ∙ 1,525 Sqft ∙ Built 1990 4 beds 2 baths ∙ 1,525 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.89
    •  
  • 8908 Juaquin Lane Raleigh, NC 1
    • 3 beds 3 baths ∙ 1,432 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,432 Sqft ∙ Built 1997
    LEASED 07/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.90
    •  
  • 8305 Bells Lake Road Apex, NC 3
    • 3 beds 3 baths ∙ 1,742 Sqft ∙ Built 1974 3 beds 3 baths ∙ 1,742 Sqft ∙ Built 1974
    LEASED 01/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.86
    •  
  • 5501 Doemont Drive Apex, NC 4
    • 4 beds 3 baths ∙ 1,837 Sqft ∙ Built 1993 4 beds 3 baths ∙ 1,837 Sqft ∙ Built 1993
    LEASED 10/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.84
    •  
PROPERTY LISTING DETAILS
Laura Szemereta
1.919.930.4704
Keller Williams Legacy
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2367603
Last Updated: 02/19/2021
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