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4908 Derbyshire Place Durham, NC 27713

3 Beds 2 Baths 1,362 sqft Built 1983

$265,000

List Price

$1,360

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $194.57
  • 2 Days on Market
  • MLS # : 2395288
  • Updated Date : 07/13/2021 at 01:20
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,362 sqft
  • Baths : 2 full
Listing Agent

Exp Realty Llc

Listing Agent's Description

Inside, this charming, 3br, 2ba, cul-de-sac home in Parkwood offers a kitchen pantry, smooth ceilings, newly updated main bath, an open floor plan with plank vinyl flooring, and a spacious owner’s suite. Outside, boasts a rocking chair front porch, a screened rear deck, storage shed, and a fenced yard with plenty of space for recreation and gardening. A/C and dual heat pump with accessory gas systems new in 2015, water heater in 2020, roof less than 10 yrs old!

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: Parkwood

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $98k274k

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

Neighborhood: Parkwood

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q280085090095010001050110011501200125013001350140014501500Rent in $7971518

* 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
Parkwood Elementary School Primary Regular 585 38 5
Lowe's Grove Magnet Middle School Middle Regular 708 47 3
Hillside High School High Regular 1,318 91 4

Parkwood Elementary School

  • Education Level: Primary
  • # of students: 585
  • # of teachers: 38
5
GreatSchools Rating

Lowe's Grove Magnet Middle School

  • Education Level: Middle
  • # of students: 708
  • # of teachers: 47
3
GreatSchools Rating

Hillside High School

  • Education Level: High
  • # of students: 1,318
  • # of teachers: 91
4
GreatSchools Rating
 

$238,500$291,500$265,000

PURCHASE PRICE

$1,224$1,496$1,360

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,360
EXPENSES Loan Payment -$920
Property Tax -$230
Property Insurance -$53
HOA -$21
Property Management Fees -$119
CASH FLOW
$17

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.

$265,000

PROJECTED PRICE

$1,360

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.11%
Appreciation Year (1-5) 7.3%
Maintenance Year (1-5) 8.00%
Vacancy 8.54%
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

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$75,975

INVESTMENT

$75,975

Down Payment
$66,250
Rehab Estimate
$5,750
Closing Costs
$3,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$920

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $66,250
Loan Amount $198,750
See What Happens When You Reinvest Cash Flow

5.83

YEARS SAVED

$17,402

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,360

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $1,359

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,360
1$1,3602$1,4953$1,5004$1,5955$1,650
$1,650
RENT COMPS ANALYSIS
  • 4908 Derbyshire Place Durham, NC 1
    • 3 beds 2 baths ∙ 1,362 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,362 Sqft ∙ Built 1983
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,360
    • $1.00
    •  
  • 5019 Timmons Drive Durham, NC 2
    • 3 beds 2 baths ∙ 1,440 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,440 Sqft ∙ Built 1975
    property image
    LEASED 05/11/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.04
    •  
  • 4900 Wineberry Drive Durham, NC 3
    • 3 beds 2 baths ∙ 1,521 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,521 Sqft ∙ Built 1983
    property image
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.99
    •  
  • 5902 Newhall Road Durham, NC 4
    • 3 beds 2 baths ∙ 1,656 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,656 Sqft ∙ Built 1972
    property image
    LEASED 11/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.96
    •  
  • 1104 Mallory Lane Durham, NC 5
    • 3 beds 3 baths ∙ 1,650 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,650 Sqft ∙ Built 2003
    property image
    LEASED 04/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.00
    •  
PROPERTY LISTING DETAILS
Amanda Driscoll
1.215.767.7745
Exp Realty Llc
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2395288
Last Updated: 07/13/2021
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