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4409 Johnstown Drive Knightdale, NC 27545

4 Beds 3 Baths 1,857 sqft Built 2011

$260,000

List Price

$1,440

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

October 27, 2020 RECENTLY ADDED
FACTS
  • Built In 2011
  • Price/Sqft : $140.01
  • 8 Days on Market
  • MLS # : 2350744
  • Updated Date : 11/02/2020 at 17:04
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,857 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty

Listing Agent's Description

The Wilmington Floor plan built in 2011: 4BR spacious foyer, 2.5 bath & hardwood floors added Throughout first floor! Gas FP in family w/ ceiling fan. Kitchen includes island, Granitetops, stainless APLS, 42 in maple cabs. w/ hardware! MBR w/ trey ceiling & fan ,ceiling fans in all bedrooms, garden tub, sep shower, dual raised vanity w/cultured marbletops. Culdesac lot, New fence install this year, New HVAC, community pool, walking trails, pocket parks. Energy Star Certified. Mins to 540, 440.

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)
  • 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)
  • #7 Best Big City for Jobs 2018 (Forbes, 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: Churchill

NeighborhoodNIR Market*CityMarket2010Year20002019130k140k150k160k170k180k190k200k210k220k230k240k250k260kPrice in $121k265k

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

Neighborhood: Churchill

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q295010001050110011501200125013001350140014501500155016001650Rent in $9461676

* 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
Knightdale Elementary School Primary Regular 750 54 NA
East Wake Middle School Middle Regular 884 56 2
Knightdale High School High Regular 1,672 99 2

Knightdale Elementary School

  • Education Level: Primary
  • # of students: 750
  • # of teachers: 54
NA
GreatSchools Rating

East Wake Middle School

  • Education Level: Middle
  • # of students: 884
  • # of teachers: 56
2
GreatSchools Rating

Knightdale High School

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

$234,000$286,000$260,000

PURCHASE PRICE

$1,296$1,584$1,440

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,440
EXPENSES Loan Payment -$959
Property Tax -$205
Property Insurance -$63
HOA -$45
Property Management Fees -$130
CASH FLOW
$39

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.

$260,000

PROJECTED PRICE

$1,440

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 5.1%
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-$2.0k$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$74,650

INVESTMENT

$74,650

Down Payment
$65,000
Rehab Estimate
$5,750
Closing Costs
$3,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$959

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $65,000
Loan Amount $195,000
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$17,948

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,440

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $1,524

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,4403$1,4954$1,5505$1,600
$1,600
RENT COMPS ANALYSIS
  • 4409 Johnstown Drive Knightdale, NC 2
    • 4 beds 3 baths ∙ 1,814 Sqft ∙ Built 2011 4 beds 3 baths ∙ 1,814 Sqft ∙ Built 2011
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,440
    • $0.79
    •  
  • 1308 Oak Crest Drive Knightdale, NC 1
    • 3 beds 2 baths ∙ 1,840 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,840 Sqft ∙ Built 1994
    property image
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.76
    •  
  • 628 Twain Town Drive Knightdale, NC 3
    • 3 beds 3 baths ∙ 1,803 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,803 Sqft ∙ Built 2005
    property image
    LEASED 04/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.83
    •  
  • 1007 Willow Ridge Drive Knightdale, NC 4
    • 3 beds 3 baths ∙ 1,776 Sqft ∙ Built 1992 3 beds 3 baths ∙ 1,776 Sqft ∙ Built 1992
    property image
    LEASED 01/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.87
    •  
  • 904 Pleasant Colony Drive Knightdale, NC 5
    • 3 beds 3 baths ∙ 1,781 Sqft ∙ Built 2011 3 beds 3 baths ∙ 1,781 Sqft ∙ Built 2011
    property image
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.90
    •  
PROPERTY LISTING DETAILS
Rupert Bryan
1.919.723.8947
Keller Williams Realty
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2350744
Last Updated: 11/02/2020
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