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4508 Belvedere Court Raleigh, NC 27604

3 Beds 3 Baths 1,534 sqft Built 1988

$264,900

List Price

$1,430

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

December 27, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $172.69
  • 8 Days on Market
  • MLS # : 2359139
  • Updated Date : 12/31/2020 at 11:40
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,534 sqft
  • Baths : 2 full , 1 half
Listing Agent

Realty World-triangle Living

Listing Agent's Description

TOTALLY UPDATED: Remodeled 1st Flr master, New HVAC, duct work, Water Heater, bay window(19), Entry doors, vapor barrier(20), New appl's (17)Bosch DW, Viking microwave, Kit Aid Dble induction Oven, Roof & skylights(09) Gutters(15) Crawlspace insulation(17), New electrical switches, receptacles, fixtures, whole house replumbed, new deck & gas line, Maple hardwood flrs on 1st flr, new gar door & storage & New paint;Close to shopping, restaurants & downtown. Golf/swim/tennis comm;

SEE MORE

MARKET HIGHLIGHTS

  • #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
  • 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: Hedingham Village

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $118k277k

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

Neighborhood: Hedingham Village

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q28009001000110012001300140015001600Rent in $7091630

* 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
 

$238,410$291,390$264,900

PURCHASE PRICE

$1,287$1,573$1,430

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,430
EXPENSES Loan Payment -$977
Property Tax -$206
Property Insurance -$57
HOA -$55
Property Management Fees -$119
CASH FLOW
$15

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.

$264,900

PROJECTED PRICE

$1,430

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 6.1%
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$900k

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$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$75,949

INVESTMENT

$75,949

Down Payment
$66,225
Rehab Estimate
$5,750
Closing Costs
$3,974

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$977

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $66,225
Loan Amount $198,675
See What Happens When You Reinvest Cash Flow

6

YEARS SAVED

$20,904

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,430

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,430

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,3953$1,4004$1,4305$1,450
$1,450
RENT COMPS ANALYSIS
  • 4508 Belvedere Court Raleigh, NC 4
    • 3 beds 3 baths ∙ 1,534 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,534 Sqft ∙ Built 1988
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,430
    • $0.93
    •  
  • 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 2
    • 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
    •  
  • 1940 Crag Burn Lane Raleigh, NC 3
    • 3 beds 3 baths ∙ 1,527 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,527 Sqft ∙ Built 1997
    property image
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.92
    •  
  • 5124 Royal Dornoch Drive Raleigh, NC 5
    • 3 beds 3 baths ∙ 1,584 Sqft ∙ Built 1994 3 beds 3 baths ∙ 1,584 Sqft ∙ Built 1994
    property image
    LEASED 11/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.92
    •  
PROPERTY LISTING DETAILS
Shawn Britt
1.919.215.3263
Realty World-triangle Living
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2359139
Last Updated: 12/31/2020
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