Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

4340 Warfield Place Raleigh, NC 27604

3 Beds 3 Baths 1,368 sqft Built 1997

$235,000

List Price

$1,300

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $171.78
  • 3 Days on Market
  • MLS # : 2370347
  • Updated Date : 03/05/2021 at 15:59
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,368 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty - Wake Forest

Listing Agent's Description

Super charming 3 bedroom home in swim/golf community. Rocking chair front porch to enjoy our lovely NC evenings. Flat fenced yard. Spacious kitchen opens to dining room, hardwoods in family room and entry way. Cozy fireplace in the family room. Large master with lovely en suite featuring dual vanity and separate tub/shower.

SEE MORE

MARKET HIGHLIGHTS

  • 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: Bristol

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260kPrice in $122k277k

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

Neighborhood: Bristol

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q29001000110012001300140015001600Rent in $8391630

* 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
Wilburn Elementary School Primary Regular 691 50 2
Durant Road Middle School Middle Regular 1,245 78 5
Knightdale High School High Regular 1,672 99 2

Wilburn Elementary School

  • Education Level: Primary
  • # of students: 691
  • # of teachers: 50
2
GreatSchools Rating

Durant Road Middle School

  • Education Level: Middle
  • # of students: 1,245
  • # of teachers: 78
5
GreatSchools Rating

Knightdale High School

  • Education Level: High
  • # of students: 1,672
  • # of teachers: 99
2
GreatSchools Rating
 

$211,500$258,500$235,000

PURCHASE PRICE

$1,170$1,430$1,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,300
EXPENSES Loan Payment -$816
Property Tax -$173
Property Insurance -$54
HOA -$50
Property Management Fees -$119
CASH FLOW
$88

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.

$235,000

PROJECTED PRICE

$1,300

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 6.2%
Maintenance Year (1-5) 8.00%
Vacancy 7.49%
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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$68,025

INVESTMENT

$68,025

Down Payment
$58,750
Rehab Estimate
$5,750
Closing Costs
$3,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$816

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $58,750
Loan Amount $176,250
See What Happens When You Reinvest Cash Flow

7.5

YEARS SAVED

$22,054

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,300

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,293

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,3003$1,3954$1,4005$1,425
$1,425
RENT COMPS ANALYSIS
  • 4340 Warfield Place Raleigh, NC 2
    • 3 beds 3 baths ∙ 1,368 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,368 Sqft ∙ Built 1997
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.95
    •  
  • 4328 Bartholomew Circle Raleigh, NC 1
    • 3 beds 2 baths ∙ 1,465 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,465 Sqft ∙ Built 1996
    property image
    LEASED 08/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.89
    •  
  • 4405 Bartholomew Circle Raleigh, NC 3
    • 3 beds 2 baths ∙ 1,401 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,401 Sqft ∙ Built 1997
    property image
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.00
    •  
  • 1725 Kingston Heath Way Raleigh, NC 4
    • 3 beds 3 baths ∙ 1,488 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,488 Sqft ∙ Built 1990
    property image
    LEASED 01/12/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.94
    •  
  • 4205 Toccopola Street Raleigh, NC 5
    • 3 beds 3 baths ∙ 1,500 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,500 Sqft ∙ Built 1999
    property image
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $0.95
    •  
PROPERTY LISTING DETAILS
Matt Bergevin
1.919.426.1561
Keller Williams Realty - Wake Forest
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2370347
Last Updated: 03/05/2021
BESbswy