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4528 Kaplan Drive Raleigh, NC 27606

3 Beds 2 Baths 1,345 sqft Built 1979

$279,900

List Price

$1,290

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1979
  • Price/Sqft : $208.10
  • 3 Days on Market
  • MLS # : 2356509
  • Updated Date : 12/05/2020 at 14:49
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,345 sqft
  • Baths : 2 full
Listing Agent

Howard Perry & Walston Realtor

Listing Agent's Description

Great home and great value in fantastic location, close to downtown Raleigh. This updated 3bd, 2 bth home close to NC State makes this a great buy. Enjoy the lovely view of the park from your front porch, and the peace and quiet of the large & private wooded backyard. Inside, enjoy spacious & open main level living with updated kitchen, including granite counter tops. Master is spacious and sunny with large walk-in closet and en suite bath. Bring your buyers, this one won't last!

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)
  • #7 Best Big City for Jobs 2018 (Forbes, 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)
  • 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: Hunters Creek West

NeighborhoodNIR Market*CityMarket2010Year20002019160k180k200k220k240k260k280k300k320k340kPrice in $148k359k

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

Neighborhood: Hunters Creek West

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2800900100011001200130014001500160017001800Rent in $7731873

* 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
Combs Elementary School Primary Magnet 925 57 5
Centennial Campus Middle School Middle Magnet 588 41 4
Athens Drive High School High Regular 1,884 119 6

Combs Elementary School

  • Education Level: Primary
  • # of students: 925
  • # of teachers: 57
5
GreatSchools Rating

Centennial Campus Middle School

  • Education Level: Middle
  • # of students: 588
  • # of teachers: 41
4
GreatSchools Rating

Athens Drive High School

  • Education Level: High
  • # of students: 1,884
  • # of teachers: 119
6
GreatSchools Rating
 

$251,910$307,890$279,900

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 -$1,033
Property Tax -$228
Property Insurance -$53
Property Management Fees -$119
CASH FLOW
-$143

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 16% of earned rent to cover both maintenance and periods of vacancy.

$279,900

PROJECTED PRICE

$1,290

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.33%
Appreciation Year (1-5) 5.6%
Maintenance Year (1-5) 8.00%
Vacancy 7.51%
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-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$79,924

INVESTMENT

$79,924

Down Payment
$69,975
Rehab Estimate
$5,750
Closing Costs
$4,199

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,033

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $69,975
Loan Amount $209,925
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$11,262

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
  • $0.96

    LIST RENT PER SQFT
  • $1,291

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,290
1$1,2902$1,4003$1,4504$1,4955$1,595
$1,595
RENT COMPS ANALYSIS
  • 4528 Kaplan Drive Raleigh, NC 1
    • 3 beds 2 baths ∙ 1,345 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,345 Sqft ∙ Built 1979
    • Rent
    • Rent Per SQFT
    •  
    • $1,290
    • $0.96
    •  
  • 5016 Wickham Road Raleigh, NC 2
    • 3 beds 2 baths ∙ 1,485 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,485 Sqft ∙ Built 1962
    LEASED 06/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.94
    •  
  • 2908 Golden Oak Court Raleigh, NC 3
    • 3 beds 3 baths ∙ 1,477 Sqft ∙ Built 1994 3 beds 3 baths ∙ 1,477 Sqft ∙ Built 1994
    LEASED 01/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.98
    •  
  • 5105 Huntingdon Drive Raleigh, NC 4
    • 3 beds 2 baths ∙ 1,560 Sqft ∙ Built 1967 3 beds 2 baths ∙ 1,560 Sqft ∙ Built 1967
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.96
    •  
  • 2724 Goshawk Lane Raleigh, NC 5
    • 3 beds 2 baths ∙ 1,653 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,653 Sqft ∙ Built 1992
    LEASED 01/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.96
    •  
PROPERTY LISTING DETAILS
Trish Sweeney-lowe
1.919.272.6640
Howard Perry & Walston Realtor
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2356509
Last Updated: 12/05/2020
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