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4428 Inez Court Raleigh, NC 27604

3 Beds 2 Baths 1,359 sqft Built 1998

$235,000

List Price

$1,290

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $172.92
  • 3 Days on Market
  • MLS # : 2371881
  • Updated Date : 03/13/2021 at 19:17
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,359 sqft
  • Baths : 2 full
Listing Agent

Moore's Realty, Inc.

Listing Agent's Description

Beautiful home in the sought after community of Hedingham! Large family room w/fireplace easily transitions to the cozy eat-in kitchen. Abundant natural light and open floor plan are further accented by the vaulted ceiling. 1st floor guest room and convenient washer/dryer location. Owner's and third bedroom on 2nd floor. NICE fenced backyard & deck to enjoy the seasons! Most of the heavy lifting has been done...New roof 2020, HVAC 2019 and water heater 2018! Welcome Home!

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

$1,161$1,419$1,290

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,290
EXPENSES Loan Payment -$816
Property Tax -$180
Property Insurance -$54
HOA -$52
Property Management Fees -$119
CASH FLOW
$69

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

$1,290

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

7.17

YEARS SAVED

$20,176

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,290

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,298

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,290
1$1,2902$1,3003$1,3504$1,3955$1,400
$1,400
RENT COMPS ANALYSIS
  • 4428 Inez Court Raleigh, NC 1
    • 3 beds 2 baths ∙ 1,359 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,359 Sqft ∙ Built 1998
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,290
    • $0.95
    •  
  • 4328 Bartholomew Circle Raleigh, NC 2
    • 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
    •  
  • 1961 Talamore Court Raleigh, NC 3
    • 3 beds 3 baths ∙ 1,360 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,360 Sqft ∙ Built 1997
    property image
    LEASED 12/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.99
    •  
  • 4405 Bartholomew Circle Raleigh, NC 4
    • 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 5
    • 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
    •  
PROPERTY LISTING DETAILS
Tonya Matthews Wall
1.919.819.4698
Moore's Realty, Inc.
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2371881
Last Updated: 03/13/2021
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