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4707 Drewbridge Way Raleigh, NC 27604

4 Beds 3 Baths 2,092 sqft Built 2002

$259,000

List Price

$1,520

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $123.80
  • 3 Days on Market
  • MLS # : 2356409
  • Updated Date : 12/05/2020 at 21:33
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,092 sqft
  • Baths : 2 full , 1 half
Listing Agent

Fonville Morisey/wake Forest Sales Office

Listing Agent's Description

Beautiful home in great Raleigh location! Well-maintained, partial brick front, fiber cement exterior. Kitchen is open to Breakfast Rm. Living Rm has fireplace w/gas logs for relaxing on cool evenings. Spacious 1st floor Master Bedroom w/adjoining Master Bath, WIC and tray ceiling. Two Bedrooms & huge Bonus Rm or Bedroom upstairs on second floor. Walk-in storage downstairs & upstairs provide coveted extra space. Enjoy the outdoors from the back Patio/Deck. Swimming pool community.

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: Wyckford

NeighborhoodNIR Market*CityMarket2010Year20002019140k150k160k170k180k190k200k210k220k230k240k250k260k270kPrice in $132k277k

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

Neighborhood: Wyckford

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q295010001050110011501200125013001350140014501500155016001650Rent in $9461662

* 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
Wildwood Forest Elementary School Primary Regular 831 56 4
Durant Road Middle School Middle Regular 1,245 78 5
Knightdale High School High Regular 1,672 99 2

Wildwood Forest Elementary School

  • Education Level: Primary
  • # of students: 831
  • # of teachers: 56
4
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
 

$233,100$284,900$259,000

PURCHASE PRICE

$1,368$1,672$1,520

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,520
EXPENSES Loan Payment -$956
Property Tax -$227
Property Insurance -$68
HOA -$38
Property Management Fees -$119
CASH FLOW
$113

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.

$259,000

PROJECTED PRICE

$1,520

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 2.5%
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$74,385

INVESTMENT

$74,385

Down Payment
$64,750
Rehab Estimate
$5,750
Closing Costs
$3,885

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$956

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $64,750
Loan Amount $194,250
See What Happens When You Reinvest Cash Flow

7.67

YEARS SAVED

$30,377

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,520

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $1,590

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5203$1,5504$1,6005$1,650
$1,650
RENT COMPS ANALYSIS
  • 4707 Drewbridge Way Raleigh, NC 2
    • 3 beds 3 baths ∙ 2,092 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,092 Sqft ∙ Built 2002
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,520
    • $0.73
    •  
  • 3012 Bethwicke Court Raleigh, NC 1
    • 4 beds 3 baths ∙ 2,000 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,000 Sqft ∙ Built 2000
    property image
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.75
    •  
  • 2508 Westham Place Raleigh, NC 3
    • 4 beds 3 baths ∙ 2,208 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,208 Sqft ∙ Built 1990
    property image
    LEASED 05/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.70
    •  
  • 4400 Easthampton Drive Raleigh, NC 4
    • 4 beds 3 baths ∙ 2,067 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,067 Sqft ∙ Built 1992
    property image
    LEASED 02/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.77
    •  
  • 4913 Liverpool Lane Raleigh, NC 5
    • 3 beds 3 baths ∙ 2,000 Sqft ∙ Built 1988 3 beds 3 baths ∙ 2,000 Sqft ∙ Built 1988
    property image
    LEASED 06/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.83
    •  
PROPERTY LISTING DETAILS
Kaye Odum
1.919.426.6942
Fonville Morisey/wake Forest Sales Office
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2356409
Last Updated: 12/05/2020
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