Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

5 Hayride Place Durham, NC 27703

3 Beds 3 Baths 2,102 sqft Built 2007

$265,000

List Price

$1,690

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

December 17, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $126.07
  • 4 Days on Market
  • MLS # : 2358224
  • Updated Date : 12/19/2020 at 17:29
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,102 sqft
  • Baths : 2 full , 1 half
Listing Agent

Nicole James Real Estate Group

Listing Agent's Description

Popular Ganyard Farms - Modern Updates and hardwoods throughout this beautiful eastern durham estate. Spacious master suite with walk in closet, dual vanities and floating shelves, garden tub with separate shower. Large living room with oversized loft. Guest suite on main with fenced in backyard with patio that's perfect for entertaining. Conveniently located near RTP and Brier Creek.

SEE MORE

MARKET HIGHLIGHTS

  • 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
  • #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)

PRICE & RENT TRENDS

Zip Code: 27703

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $97k274k

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

Zip Code: 27703

ZipNIR Market*CityMarket2010Year2000 Q22019 Q290095010001050110011501200125013001350140014501500Rent in $8591518

* 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
Oak Grove Elementary School Primary Regular 625 41 3
Neal Magnet Middle School Middle Regular 857 60 1
Southern School Of Energy And Sustainability High Regular 1,292 90 2

Oak Grove Elementary School

  • Education Level: Primary
  • # of students: 625
  • # of teachers: 41
3
GreatSchools Rating

Neal Magnet Middle School

  • Education Level: Middle
  • # of students: 857
  • # of teachers: 60
1
GreatSchools Rating

Southern School Of Energy And Sustainability

  • Education Level: High
  • # of students: 1,292
  • # of teachers: 90
2
GreatSchools Rating
 

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

PURCHASE PRICE

$1,521$1,859$1,690

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,690
EXPENSES Loan Payment -$978
Property Tax -$265
Property Insurance -$68
HOA -$18
Property Management Fees -$119
CASH FLOW
$243

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

$1,690

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.11%
Appreciation Year (1-5) 4.8%
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$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

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

$978

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $66,250
Loan Amount $198,750
See What Happens When You Reinvest Cash Flow

10.08

YEARS SAVED

$45,319

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,690

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $1,697

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,5753$1,6904$1,6955$1,695
$1,695
RENT COMPS ANALYSIS
  • 5 Hayride Place Durham, NC 3
    • 3 beds 3 baths ∙ 2,102 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,102 Sqft ∙ Built 2007
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $0.80
    •  
  • 714 Obsidian Way Durham, NC 1
    • 3 beds 3 baths ∙ 1,902 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,902 Sqft ∙ Built 2006
    property image
    LEASED 07/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.79
    •  
  • 1108 Homecoming Way Durham, NC 2
    • 3 beds 3 baths ∙ 1,896 Sqft ∙ Built 2019 3 beds 3 baths ∙ 1,896 Sqft ∙ Built 2019
    property image
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.83
    •  
  • 905 Reedy Way Durham, NC 4
    • 4 beds 3 baths ∙ 2,080 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,080 Sqft ∙ Built 2006
    property image
    LEASED 10/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.81
    •  
  • 117 Lodestone Drive Durham, NC 5
    • 3 beds 3 baths ∙ 2,120 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,120 Sqft ∙ Built 2007
    property image
    LEASED 11/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.80
    •  
PROPERTY LISTING DETAILS
Tiffany Howard
1.919.423.2573
Nicole James Real Estate Group
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2358224
Last Updated: 12/19/2020
BESbswy