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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.

$81,275

Investment Est.

AVAILABLE

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AVAILABLE

1 Year
(+5.8%)
1 YR. PROJ. APPRECIATION


Cap Rate	3.6%
Cash Flow	$660
Value Increase	$16,805

10 YEAR

Cash On Cash	-0.6%
Total Return	11.4%

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!

4804 Forest Highland Dr

Raleigh, North Carolina

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MARKET HIGHLIGHTS

Raleigh Market Report

#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

Neighborhood: Hedingham

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

Neighborhood: Hedingham

* 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:

GreatSchools Rating

River Bend Middle School

Education Level: Middle
# of students:
# of teachers:

GreatSchools Rating

Knightdale High School

Education Level: High
# of students: 1,672
# of teachers: 99

GreatSchools Rating

FINANCIALS

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$256,500$313,50000$285,000

PURCHASE PRICE

$1,350$1,65000$1,500

RENT

DOWN PAYMENT

FINANCING

OFF ON

Acquisition Concierge

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PROPERTY

Expense Inflation	%
Vacancy	%
Length of Stay
Expense Inflation	%
Vacancy	%
Length of Stay

YEAR (1-5)

Appreciation	%
Rental Growth	%
Maintenance	%

YEAR (1-5)

Appreciation	%
Rental Growth	%
Maintenance	%

YEAR (6+)

Appreciation	%
Rental Growth	%
Maintenance	%

INVESTMENT

Rehab Costs
Reinvest Cash Flow	Yes No
Interest Rate	%

INVESTMENT

Rehab Costs
Reinvest Cash Flow	Yes No
Interest Rate	%

Learn how to read this

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

PROJECTED ANNUAL CASH FLOW

Tenant Turnover

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

Appreciation
Principal
Loan Balance

TOTAL CASH OUT OF POCKET

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

3.75%

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

1,780
PROPERTY SQFT
$0.85
AVG RENT PER SQFT
$1,517
ESTIMATED VALUE
$1,500
LIST RENT

4805 Forest Highland Drive Raleigh, NC 3

3 beds 3 baths ∙ 1,780 Sqft ∙ Built 1994 3 beds 3 baths ∙ 1,780 Sqft ∙ Built 1994
Price

Price Per SQFT

$285,000

$160.11
4705 Worchester Place Raleigh, NC 1

3 beds 3 baths ∙ 1,672 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,672 Sqft ∙ Built 1989
SOLD 01/25/21
Price

Price Per SQFT

$246,500

$147.43
1920 Spanish Bay Court Raleigh, NC 2

3 beds 3 baths ∙ 1,752 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,752 Sqft ∙ Built 1998
SOLD 03/25/21
Price

Price Per SQFT

$275,000

$156.96
4969 Royal Adelaide Way Raleigh, NC 4

3 beds 2 baths ∙ 1,787 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,787 Sqft ∙ Built 1990
SOLD 05/17/21
Price

Price Per SQFT

$310,000

$173.48
5029 Knightsbridge Way Raleigh, NC 5

3 beds 3 baths ∙ 1,828 Sqft ∙ Built 1993 3 beds 3 baths ∙ 1,828 Sqft ∙ Built 1993
SOLD 03/26/21
Price

Price Per SQFT

$315,000

$172.32

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
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
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
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
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
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

4805 Forest Highland Drive Raleigh, NC 27604

$285,000

$1,500

$81,275

REQUEST INFO

PROPERTY INFO

FACTS

CONSTRUCTION

Listing Agent

Listing Agent's Description

MARKET HIGHLIGHTS

PRICE & RENT TRENDS

SCHOOLS

Beaverdam Elementary School

River Bend Middle School

Knightdale High School

FINANCIALS

$256,500$313,50000$285,000

$1,350$1,65000$1,500

Acquisition Concierge

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

$285,000

$1,500

0.53%

PROJECTED ACCUMULATED WEALTH

PROJECTED ANNUAL CASH FLOW

PROJECTED PROPERTY VALUE

TOTAL CASH OUT OF POCKET

INVESTMENT

LOAN DETAILS

25%

$990

6.5

$21,770

$285,000

$160.11

$289,335

$162.55

COMPS RANGE

PRICE COMPS ANALYSIS

$1,500

$0.84

$1,517

$0.85

Comps Range

RENT COMPS ANALYSIS

PROPERTY LISTING DETAILS