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4820 Marathon Lane Raleigh, NC 27616

4 Beds 3 Baths 2,307 sqft Built 2000

INVESTimate

$285,000

List Price

$1,600

$1,440 - $1,760

Rent Est.

$307,202  ( +7.79%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 2000
  • Price/Sqft : $123.54
  • 6 Days on Market
  • MLS # : 2338534
  • Updated Date : 08/21/2020 at 19:47
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,307 sqft
  • Baths : 2 full , 1 half
Listing Agent

Howard Perry & Walston Realtor

Listing Agent's Description

Excellent Location!! HVAC new in 2012! Hot water heater new 2016! Large fenced backyard!! Patio!! Covered Front porch! Kitchen opens to family room! Separate Dining Room and Living Room! Fireplace in Family Room! Downstairs office or exercise room!! Master with garden tub, His and Her closets!! 2 car garage! Minutes from 440!!! Location! Location! Location!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Valley Stream

NeighborhoodNIR Market*CityMarket2010Year20002019140k150k160k170k180k190k200k210k220k230k240k250k260k270kPrice in $132k277k

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

Neighborhood: Valley Stream

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q29501000105011001150120012501300135014001450150015501600Rent in $9431630

* 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
River Bend Elementary School Primary Regular 839 62 5
River Bend Middle School Middle Regular NA
Rolesville High School High Regular 1,200 69 NA

River Bend Elementary School

  • Education Level: Primary
  • # of students: 839
  • # of teachers: 62
5
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
 

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

PURCHASE PRICE

$1,440$1,760$1,600

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

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$200k$400k$600k$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,600
EXPENSES Loan Payment -$1,052
Property Tax -$231
Property Insurance -$72
HOA -$25
Property Management Fees -$144
CASH FLOW
$76

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

$1,600

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.79%
Maintenance Year (1-5) 8.00%
Vacancy 7.49%
Length of Stay Years 2

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.

$1,052

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $71,250
Loan Amount $213,750
See What Happens When You Reinvest Cash Flow

6

YEARS SAVED

$23,430

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,600

    LIST RENT
  • $0.69

    LIST RENT PER SQFT
  • $1,667

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$1,565
1$1,5652$1,6003$1,6504$1,6505$1,795
$1,795
RENT COMPS ANALYSIS
  • 4820 Marathon Lane Raleigh, 2
    • 4 beds 3 baths ∙ 2,307 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,307 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.69
    •  
  • 4833 Tommans Trail Raleigh, 1
    • 3 beds 3 baths ∙ 2,090 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,090 Sqft ∙ Built 2004
    LEASED 03/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,565
    • $0.75
    •  
  • 5100 Marathon Lane Raleigh, 3
    • 4 beds 3 baths ∙ 2,317 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,317 Sqft ∙ Built 2001
    LEASED 08/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.71
    •  
  • 4221 Snowcrest Lane Raleigh, 4
    • 3 beds 3 baths ∙ 2,348 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,348 Sqft ∙ Built 2003
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.70
    •  
  • 4821 Marathon Lane Raleigh, 5
    • 4 beds 4 baths ∙ 2,450 Sqft ∙ Built 2000 4 beds 4 baths ∙ 2,450 Sqft ∙ Built 2000
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.73
    •  
PROPERTY LISTING DETAILS
Robin Sullivan
1.919.422.9932
Howard Perry & Walston Realtor
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2338534
Last Updated: 08/21/2020
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