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4732 Silverdene Street Raleigh, NC 27616

3 Beds 2 Baths 1,239 sqft Built 2000

$192,000

List Price

$1,090

$981 - $1.2K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 2000
  • Price/Sqft : $154.96
  • 9 Days on Market
  • MLS # : 2350484
  • Updated Date : 10/30/2020 at 13:35
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,239 sqft
  • Baths : 2 full
Listing Agent

Flex Realty

Listing Agent's Description

This adorable home is tucked away in a desirable neighborhood is Northeast Raleigh. It is freshly painted, has many upgrades, and offers an incredibly private and peaceful fenced-in backyard. This open-concept ranch home has everything you need and more, perfectly situation inside the 540 beltline, close to grocery stores and shopping! Once you step inside, it will finally feel like "home!" Don't miss the brand new patio in the back!

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)
  • 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)
  • #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

PRICE & RENT TRENDS

Neighborhood: Ansleigh

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $112k277k

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

Neighborhood: Ansleigh

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q28009001000110012001300140015001600Rent in $7511630

* 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
Sanford Creek Elementary School Primary Regular 697 45 4
River Bend Middle School Middle Regular NA
Rolesville High School High Regular 1,200 69 NA

Sanford Creek Elementary School

  • Education Level: Primary
  • # of students: 697
  • # of teachers: 45
4
GreatSchools Rating

River Bend Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Rolesville High School

  • Education Level: High
  • # of students: 1,200
  • # of teachers: 69
NA
GreatSchools Rating
 

$172,800$211,200$192,000

PURCHASE PRICE

$981$1,199$1,090

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,090
EXPENSES Loan Payment -$708
Property Tax -$157
Property Insurance -$52
HOA -$11
Property Management Fees -$98
CASH FLOW
$64

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.

$192,000

PROJECTED PRICE

$1,090

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.3%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k

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$56,630

INVESTMENT

$56,630

Down Payment
$48,000
Rehab Estimate
$5,750
Closing Costs
$2,880

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$708

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $48,000
Loan Amount $144,000
See What Happens When You Reinvest Cash Flow

6.33

YEARS SAVED

$16,733

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,090

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,106

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,090
1$1,0902$1,2003$1,3004$1,4005$1,445
$1,445
RENT COMPS ANALYSIS
  • 4732 Silverdene Street Raleigh, NC 1
    • 3 beds 2 baths ∙ 1,250 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,250 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $1,090
    • $0.87
    •  
  • 4513 Jelynn Street Raleigh, NC 2
    • 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 2002
    LEASED 10/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.86
    •  
  • 4509 Fox Road Raleigh, NC 3
    • 3 beds 2 baths ∙ 1,444 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,444 Sqft ∙ Built 1986
    LEASED 10/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.90
    •  
  • 4356 Cardinal Grove Boulevard Raleigh, NC 4
    • 3 beds 3 baths ∙ 1,600 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,600 Sqft ∙ Built 2003
    LEASED 06/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.88
    •  
  • 5117 Silverdene Street Raleigh, NC 5
    • 3 beds 3 baths ∙ 1,600 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,600 Sqft ∙ Built 1998
    LEASED 03/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,445
    • $0.90
    •  
PROPERTY LISTING DETAILS
Kayla Garcia
1.252.883.1294
Flex Realty
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2350484
Last Updated: 10/30/2020
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