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4637 Timberhurst Drive Raleigh, NC 27612

3 Beds 2 Baths 1,400 sqft Built 1992

$285,000

List Price

$1,410

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1992
  • Price/Sqft : $203.57
  • 5 Days on Market
  • MLS # : 2353239
  • Updated Date : 11/12/2020 at 14:49
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,400 sqft
  • Baths : 2 full
Listing Agent

Dream Living Realty

Listing Agent's Description

Adorable move-in ready ranch in convenient West Raleigh location! Home is on a quiet cul-de-sac at back of neighborhood. Vaulted ceilings in living room and master make this space feel bright and airy. Wood floors throughout whole house (even bedrooms). Spacious deck overlooking wooded backyard with new shed for extra storage. Master bed has walk-in closet and ensuite with double vanity and separate shower and tub. Come see this one today!

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: Laurel Brook

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $125k359k

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

Neighborhood: Laurel Brook

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2800900100011001200130014001500160017001800Rent in $7571873

* 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
Stough Elementary School Primary Regular 538 41 4
Daniels Middle School Middle Magnet 1,158 67 6
Broughton High School High Magnet 2,112 126 6

Stough Elementary School

  • Education Level: Primary
  • # of students: 538
  • # of teachers: 41
4
GreatSchools Rating

Daniels Middle School

  • Education Level: Middle
  • # of students: 1,158
  • # of teachers: 67
6
GreatSchools Rating

Broughton High School

  • Education Level: High
  • # of students: 2,112
  • # of teachers: 126
6
GreatSchools Rating
 

$256,500$313,500$285,000

PURCHASE PRICE

$1,269$1,551$1,410

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,410
EXPENSES Loan Payment -$1,052
Property Tax -$233
Property Insurance -$55
HOA -$36
Property Management Fees -$127
CASH FLOW
-$92

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.

$285,000

PROJECTED PRICE

$1,410

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.33%
Appreciation Year (1-5) 5.3%
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$81,275

INVESTMENT

$81,275

Down Payment
$71,250
Rehab Estimate
$5,750
Closing Costs
$4,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,052

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $71,250
Loan Amount $213,750
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$10,704

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,410

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $1,439

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,4103$1,6004$1,6505$1,700
$1,700
RENT COMPS ANALYSIS
  • 4637 Timberhurst Drive Raleigh, NC 2
    • 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1992
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,410
    • $1.01
    •  
  • 4508 Timberhurst Drive Raleigh, NC 1
    • 3 beds 2 baths ∙ 1,256 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,256 Sqft ∙ Built 1991
    property image
    LEASED 09/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $1.04
    •  
  • 3300 Blue Ridge Road Raleigh, NC 3
    • 3 beds 2 baths ∙ 1,576 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,576 Sqft ∙ Built 1994
    property image
    LEASED 07/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.02
    •  
  • 4118 Galax Drive Raleigh, NC 4
    • 3 beds 2 baths ∙ 1,610 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,610 Sqft ∙ Built 1981
    property image
    LEASED 11/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.02
    •  
  • 5612 Ashbury Cove Circle Raleigh, NC 5
    • 3 beds 3 baths ∙ 1,650 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,650 Sqft ∙ Built 2000
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.03
    •  
PROPERTY LISTING DETAILS
Jamie Dawson
1.919.275.5868
Dream Living Realty
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2353239
Last Updated: 11/12/2020
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