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4805 Forest Highland Drive Raleigh, NC 27604

3 Beds 3 Baths 1,780 sqft Built 1994

$285,000

List Price

$1,500

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $160.11
  • 1 Days on Market
  • MLS # : 2395438
  • Updated Date : 07/13/2021 at 19:28
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,780 sqft
  • Baths : 1 full , 2 half
Listing Agent

Keller Williams Legacy

Listing Agent's Description

Great home in Hedingham! This 3 bed, 2.5 bath home features a grand entry way (perfect for decorating!), an easy floor plan, & comfortable living space. Eat in the separate dining room or in the breakfast nook, & enjoy the landscaped lot with plenty of shade. Home has been freshly painted, new carpet installed, & gutters are cleaned so you don't have to! Spend hot days at the community pool, & shorten your commute with close access to 440 & 540. Minutes to groceries & more!

SEE MORE

MARKET HIGHLIGHTS

  • #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)
  • 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: Hedingham

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $114k277k

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

Neighborhood: Hedingham

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q29001000110012001300140015001600Rent in $8401630

* 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
Beaverdam Elementary School Primary Regular NA
River Bend Middle School Middle Regular NA
Knightdale High School High Regular 1,672 99 2

Beaverdam Elementary School

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

River Bend Middle School

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

Knightdale High School

  • Education Level: High
  • # of students: 1,672
  • # of teachers: 99
2
GreatSchools Rating
 

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

PURCHASE PRICE

$1,350$1,650$1,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,500
EXPENSES Loan Payment -$990
Property Tax -$219
Property Insurance -$62
HOA -$55
Property Management Fees -$119
CASH FLOW
$55

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.

$285,000

PROJECTED PRICE

$1,500

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 5.8%
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$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$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$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 45% down payment or higher enables the proceeds from the asset to cover all costs.

$990

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $71,250
Loan Amount $213,750
See What Happens When You Reinvest Cash Flow

6.5

YEARS SAVED

$21,770

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,500

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,517

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,4003$1,4954$1,5005$1,595
$1,595
RENT COMPS ANALYSIS
  • 4805 Forest Highland Drive Raleigh, NC 4
    • 3 beds 3 baths ∙ 1,780 Sqft ∙ Built 1994 3 beds 3 baths ∙ 1,780 Sqft ∙ Built 1994
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.84
    •  
  • 4952 Harbour Towne Drive Raleigh, NC 1
    • 3 beds 3 baths ∙ 1,620 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,620 Sqft ∙ Built 1990
    property image
    LEASED 11/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.83
    •  
  • 5017 Royal Dornoch Drive Raleigh, NC 2
    • 3 beds 3 baths ∙ 1,655 Sqft ∙ Built 1993 3 beds 3 baths ∙ 1,655 Sqft ∙ Built 1993
    property image
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.85
    •  
  • 4737 Forest Highland Drive Raleigh, NC 3
    • 3 beds 3 baths ∙ 1,880 Sqft ∙ Built 1994 3 beds 3 baths ∙ 1,880 Sqft ∙ Built 1994
    property image
    LEASED 11/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.80
    •  
  • 4908 Heatherfield Way Raleigh, NC 5
    • 3 beds 3 baths ∙ 1,720 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,720 Sqft ∙ Built 1999
    property image
    LEASED 05/14/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.93
    •  
PROPERTY LISTING DETAILS
Chad Jemison
1.919.619.0049
Keller Williams Legacy
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2395438
Last Updated: 07/13/2021
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