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4908 Cupine Court Raleigh, NC 27604

3 Beds 2 Baths 1,931 sqft Built 2003

INVESTimate

$259,900

List Price

$1,480

$1,332 - $1,628

Rent Est.

$273,909  ( +5.39%)   1 YR EST. FORECAST

PROPERTY INFO

August 24, 2020 RECENTLY ADDED
FACTS
  • Built In 2003
  • Price/Sqft : $134.59
  • 3 Days on Market
  • MLS # : 2338881
  • Updated Date : 08/24/2020 at 18:55
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,931 sqft
  • Baths : 2 full
Listing Agent

Fonville Morisey/midtown Sales Office

Listing Agent's Description

Well maintained split 3 bedroom; 2 bath Vaulted Ranch home w/finished bonus room; granite counter tops in kitchen along w/42" cherry cabinets; hardwood floors; sitting area in master w/ door to porch; plantation shutters; built in desk in living area along w/ gas fireplace; separate shower in master along w/ garden tub; double sink; outdoor living w/a covered screen porch n deck w/ garden area landscaped; fenced back yard; Ceiling fans thru out the home. Come take a look and make it your own!

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: Amberfield

NeighborhoodNIR Market*CityMarket2010Year20002019140k150k160k170k180k190k200k210k220k230k240k250k260k270kPrice in $132k277k

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

Neighborhood: Amberfield

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q29501000105011001150120012501300135014001450150015501600Rent in $9461630

* 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
Rolesville High School High Regular 1,200 69 NA

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

Rolesville High School

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

$233,910$285,890$259,900

PURCHASE PRICE

$1,332$1,628$1,480

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$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$600k$700k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,480
EXPENSES Loan Payment -$959
Property Tax -$212
Property Insurance -$65
HOA -$10
Property Management Fees -$133
CASH FLOW
$101

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.

$259,900

PROJECTED PRICE

$1,480

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 5.39%
Maintenance Year (1-5) 8.00%
Vacancy 7.49%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,624

INVESTMENT

$74,624

Down Payment
$64,975
Rehab Estimate
$5,750
Closing Costs
$3,899

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$959

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $64,975
Loan Amount $194,925
See What Happens When You Reinvest Cash Flow

6.67

YEARS SAVED

$24,893

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,480

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $1,516

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,480
1$1,4802$1,4953$1,5004$1,6005$1,650
$1,650
RENT COMPS ANALYSIS
  • 4908 Cupine Court Raleigh, 1
    • 3 beds 2 baths ∙ 1,931 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,931 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,480
    • $0.77
    •  
  • 4015 Oatgrass Lane Raleigh, 2
    • 3 beds 3 baths ∙ 1,868 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,868 Sqft ∙ Built 2004
    LEASED 01/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.80
    •  
  • 3012 Bethwicke Court Raleigh, 3
    • 4 beds 3 baths ∙ 2,000 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,000 Sqft ∙ Built 2000
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.75
    •  
  • 4400 Easthampton Drive Raleigh, 4
    • 4 beds 3 baths ∙ 2,067 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,067 Sqft ∙ Built 1992
    LEASED 02/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.77
    •  
  • 4913 Liverpool Lane Raleigh, 5
    • 3 beds 3 baths ∙ 2,000 Sqft ∙ Built 1988 3 beds 3 baths ∙ 2,000 Sqft ∙ Built 1988
    LEASED 06/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.83
    •  
PROPERTY LISTING DETAILS
Dawn Gupton
1.919.426.6117
Fonville Morisey/midtown Sales Office
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2338881
Last Updated: 08/24/2020
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