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4710 Hoppers Drive Durham, NC 27704

5 Beds 3 Baths 2,875 sqft Built 2005

$270,000

List Price

$1,710

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $93.91
  • 2 Days on Market
  • MLS # : 2353681
  • Updated Date : 11/14/2020 at 07:40
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,875 sqft
  • Baths : 2 full , 1 half
Listing Agent

501 Nest Realty

Listing Agent's Description

Hello, Hoppers Drive! Here's the home that you've been hoping for! You'll love its light-filled, open living area and its expansive bedrooms that are plenty enough for your whole household. Pure 2020 gold! Hurray for the thoughtfully updated owners' bath with gorgeous tile, rain showerhead, and quartz tops. There's even room for two cooks in this spacious kitchen that boasts all new appliances. Enjoy your morning joe in the serene patio area, or get energized at the park, club, or pool. So hop on over!

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: Northeast Durham

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260kPrice in $61k274k

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

Neighborhood: Northeast Durham

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2800900100011001200130014001500Rent in $7261518

* 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
Eno Valley Elementary School Primary Regular 592 43 2
Lucas Middle School Middle Regular 658 43 2
Northern High School High Regular 1,448 83 3

Eno Valley Elementary School

  • Education Level: Primary
  • # of students: 592
  • # of teachers: 43
2
GreatSchools Rating

Lucas Middle School

  • Education Level: Middle
  • # of students: 658
  • # of teachers: 43
2
GreatSchools Rating

Northern High School

  • Education Level: High
  • # of students: 1,448
  • # of teachers: 83
3
GreatSchools Rating
 

$243,000$297,000$270,000

PURCHASE PRICE

$1,539$1,881$1,710

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,710
EXPENSES Loan Payment -$996
Property Tax -$234
Property Insurance -$82
HOA -$50
Property Management Fees -$154
CASH FLOW
$193

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$270,000

PROJECTED PRICE

$1,710

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.28%
Appreciation Year (1-5) 6.0%
Maintenance Year (1-5) 8.00%
Vacancy 8.55%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

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$77,300

INVESTMENT

$77,300

Down Payment
$67,500
Rehab Estimate
$5,750
Closing Costs
$4,050

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$996

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $67,500
Loan Amount $202,500
See What Happens When You Reinvest Cash Flow

8.42

YEARS SAVED

$35,462

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,710

    LIST RENT
  • $0.59

    LIST RENT PER SQFT
  • $1,696

    COMP ESTIMATED VALUE
  • $0.59

    COMP AVG. RENT PER SQFT
Comps Range
$1,710
1$1,7102$1,795
$1,795
RENT COMPS ANALYSIS
  • 4710 Hoppers Drive Durham, NC 1
    • 5 beds 3 baths ∙ 2,875 Sqft ∙ Built 2005 5 beds 3 baths ∙ 2,875 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,710
    • $0.59
    •  
  • 115 Geranium Street Durham, NC 2
    • 5 beds 3 baths ∙ 3,030 Sqft ∙ Built 2004 5 beds 3 baths ∙ 3,030 Sqft ∙ Built 2004
    property image
    LEASED 07/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.59
    •  
PROPERTY LISTING DETAILS
Courtney Dunstan
1.919.921.1104
501 Nest Realty
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2353681
Last Updated: 11/14/2020
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