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5012 Long Leaf Drive Durham, NC 27712

4 Beds 3 Baths 1,865 sqft Built 1967

$285,000

List Price

$1,570

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1967
  • Price/Sqft : $152.82
  • 5 Days on Market
  • MLS # : 2354124
  • Updated Date : 11/19/2020 at 12:17
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,865 sqft
  • Baths : 3 full
Listing Agent

Kramer Real Estate

Listing Agent's Description

You finally found a 4 bedroom home with a large yard and no HOA; all within 15 minutes of downtown Durham! This updated split level sits on nearly an acre of land backing up to Crooked Creek. Yes, there is a private home office and 3 full bathrooms. Admire the new roof while relaxing on the large back deck or while hanging out in the tree house. The one car garage would make a great home gym. Plenty of storage with an attached workshop and backyard shed. Enjoy scenic views on the covered back patio.

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
  • Major employers in Raleigh area: IBM, Cisco systems, Fidelity Investments, GlaxoSmithKline, RTI International
  • #7 Best Big City for Jobs 2018 (Forbes, 2018)
  • One of Top 10 cities for Small Business Friendliness (Thumbtack, 2018)

PRICE & RENT TRENDS

Neighborhood: Latta Road

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $95k280k

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

Neighborhood: Latta Road

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q290095010001050110011501200125013001350140014501500Rent in $8591548

* 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
 

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

PURCHASE PRICE

$1,413$1,727$1,570

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,570
EXPENSES Loan Payment -$1,052
Property Tax -$247
Property Insurance -$63
Property Management Fees -$141
CASH FLOW
$67

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.

$285,000

PROJECTED PRICE

$1,570

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.11%
Appreciation Year (1-5) 7.9%
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$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

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 50% 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

5.83

YEARS SAVED

$22,792

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,570

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,585

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,5253$1,5704$1,700
$1,700
RENT COMPS ANALYSIS
  • 5012 Long Leaf Drive Durham, NC 3
    • 4 beds 3 baths ∙ 1,865 Sqft ∙ Built 1967 4 beds 3 baths ∙ 1,865 Sqft ∙ Built 1967
    • Rent
    • Rent Per SQFT
    •  
    • $1,570
    • $0.84
    •  
  • 301 Cheryl Avenue Durham, NC 1
    • 3 beds 2 baths ∙ 1,534 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,534 Sqft ∙ Built 1964
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.88
    •  
  • 304 Cheryl Avenue Durham, NC 2
    • 3 beds 3 baths ∙ 2,100 Sqft ∙ Built 1970 3 beds 3 baths ∙ 2,100 Sqft ∙ Built 1970
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.73
    •  
  • 5011 Autumn Drive Durham, NC 4
    • 3 beds 2 baths ∙ 1,805 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,805 Sqft ∙ Built 1964
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.94
    •  
PROPERTY LISTING DETAILS
Joe Kramer
1.919.864.0682
Kramer Real Estate
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2354124
Last Updated: 11/19/2020
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