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

4425 Whitley Lane Raleigh, NC 27604

3 Beds 2 Baths 1,372 sqft Built 2000

$212,000

List Price

$1,360

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
November 23, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $154.52
  • 7 Days on Market
  • MLS # : 2355075
  • Updated Date : 11/24/2020 at 17:07
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,372 sqft
  • Baths : 2 full
Listing Agent

Howard Perry & Walston Realtor

Listing Agent's Description

NEWLY SHENGLED ROOF, this home is great opportunity for first time home buyers or investor. Close to parks, eatery's, shopping and schools. Home is ready for you to put your finishing touches on it. Rare find in this market. Don't miss this great opportunity!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Avington Place

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260kPrice in $124k277k

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

Neighborhood: Avington Place

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q27008009001000110012001300140015001600Rent in $6771630

* 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
 

$190,800$233,200$212,000

PURCHASE PRICE

$1,224$1,496$1,360

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,360
EXPENSES Loan Payment -$782
Property Tax -$158
Property Insurance -$54
HOA -$22
Property Management Fees -$122
CASH FLOW
$222

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.

$212,000

PROJECTED PRICE

$1,360

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 5.4%
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$16k

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$61,930

INVESTMENT

$61,930

Down Payment
$53,000
Rehab Estimate
$5,750
Closing Costs
$3,180

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$782

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $53,000
Loan Amount $159,000
See What Happens When You Reinvest Cash Flow

10

YEARS SAVED

$36,275

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,360

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $1,355

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,275
1$1,2752$1,3003$1,3604$1,4005$1,490
$1,490
RENT COMPS ANALYSIS
  • 4425 Whitley Lane Raleigh, NC 3
    • 3 beds 2 baths ∙ 1,372 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,372 Sqft ∙ Built 2000
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,360
    • $0.99
    •  
  • 5320 Marthonna Way Raleigh, NC 1
    • 3 beds 2 baths ∙ 1,210 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,210 Sqft ∙ Built 1999
    property image
    LEASED 09/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,275
    • $1.05
    •  
  • 6100 River Meadow Court Raleigh, NC 2
    • 3 beds 3 baths ∙ 1,470 Sqft ∙ Built 1987 3 beds 3 baths ∙ 1,470 Sqft ∙ Built 1987
    property image
    LEASED 11/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.88
    •  
  • 6032 Saybrooke Drive Raleigh, NC 4
    • 3 beds 2 baths ∙ 1,392 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,392 Sqft ∙ Built 2002
    property image
    LEASED 09/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.01
    •  
  • 6208 Saybrooke Drive Raleigh, NC 5
    • 3 beds 2 baths ∙ 1,474 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,474 Sqft ∙ Built 2000
    property image
    LEASED 07/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,490
    • $1.01
    •  
PROPERTY LISTING DETAILS
Jarmaine Higgs
1.919.601.4218
Howard Perry & Walston Realtor
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2355075
Last Updated: 11/24/2020
BESbswy