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4815 Singing Woods Place Durham, NC 27712

3 Beds 1 Baths 1,681 sqft Built 1973

$200,000

List Price

$1,310

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 1973
  • Price/Sqft : $118.98
  • 2 Days on Market
  • MLS # : 2352732
  • Updated Date : 11/07/2020 at 21:47
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,681 sqft
  • Baths : 1 full
Listing Agent

Listwithfreedom.com

Listing Agent's Description

Gorgeous in Durham! Features a beautiful kitchen with amazing counter tops, NEW Stainless Steel appliances. Beautiful, Exotic hardwoods throughout 1st flr. AWESOME master with sitting room, dual vanity, HUGE shower. New interior paint & carpet.. . Convenient to Durham, 501. Move in and enjoy!

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

Zip Code: 27712

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $106k303k

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

Zip Code: 27712

ZipNIR Market*CityMarket2010Year2000 Q22019 Q290010001100120013001400150016001700Rent in $8591734

* 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
Carrington Middle School Middle Regular 1,094 72 4
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

Carrington Middle School

  • Education Level: Middle
  • # of students: 1,094
  • # of teachers: 72
4
GreatSchools Rating

Northern High School

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

$180,000$220,000$200,000

PURCHASE PRICE

$1,179$1,441$1,310

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,310
EXPENSES Loan Payment -$738
Property Tax -$173
Property Insurance -$59
Property Management Fees -$118
CASH FLOW
$222

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.

$200,000

PROJECTED PRICE

$1,310

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.42%
Appreciation Year (1-5) 5.3%
Maintenance Year (1-5) 8.00%
Vacancy 8.51%
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$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$58,750

INVESTMENT

$58,750

Down Payment
$50,000
Rehab Estimate
$5,750
Closing Costs
$3,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$738

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $50,000
Loan Amount $150,000
See What Happens When You Reinvest Cash Flow

9.5

YEARS SAVED

$32,127

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,310

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $1,458

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,310
1$1,3102$1,3503$1,3504$1,4005$1,700
$1,700
RENT COMPS ANALYSIS
  • 4815 Singing Woods Place Durham, NC 1
    • 3 beds 1 baths ∙ 1,681 Sqft ∙ Built 1973 3 beds 1 baths ∙ 1,681 Sqft ∙ Built 1973
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,310
    • $0.78
    •  
  • 5210 Partridge Street Durham, NC 2
    • 4 beds 3 baths ∙ 1,872 Sqft ∙ Built 1968 4 beds 3 baths ∙ 1,872 Sqft ∙ Built 1968
    property image
    LEASED 12/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.72
    •  
  • 301 Cheryl Avenue Durham, NC 3
    • 3 beds 2 baths ∙ 1,534 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,534 Sqft ∙ Built 1964
    property image
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.88
    •  
  • 3521 Duke Homestead Road Durham, NC 4
    • 3 beds 1 baths ∙ 1,500 Sqft ∙ Built 1954 3 beds 1 baths ∙ 1,500 Sqft ∙ Built 1954
    property image
    LEASED 10/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.93
    •  
  • 5011 Autumn Drive Durham, NC 5
    • 3 beds 2 baths ∙ 1,805 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,805 Sqft ∙ Built 1964
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.94
    •  
PROPERTY LISTING DETAILS
Ralph Harvey
1.855.456.4945
Listwithfreedom.com
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2352732
Last Updated: 11/07/2020
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