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PROPERTY INFO
FACTS
- Single Family
- Built In 1970
- Price/Sqft : $161.54
- 3 Days on Market
- MLS # : 2359701
- Updated Date : 01/01/2021 at 20:23
CONSTRUCTION
- Beds : 3
- Floor Size : 1,300 sqft
- Baths : 2 full
Listing Agent
Cogu Realty Investments & Consulting Llc
Listing Agent's Description
Near to everything ranch-style home, perfectly situated in a peaceful community in Garner! This spacious home not only has 3 bedrooms and 2 bathrooms, it is conveniently located near shops, restaurants, and great schools. This home has hardwood floors throughout! Along with the bedrooms, there is a great extra space that can be used as a sunroom, office, or even an at-home gym! The property sits on .36 acre land with a fenced in backyard perfect for some outdoor fun.(house will be professionally measured)
SEE MORE
- #7 Best Big City for Jobs 2018 (Forbes, 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
- 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: Woodridge
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Woodridge
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,170 |
| EXPENSES | Loan Payment | -$775 |
| Property Tax | -$168 | |
| Property Insurance | -$53 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$56
|
||
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.
$210,000
PROJECTED PRICE
$1,170
PROJECTED RENT
0.56%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.76% |
| Appreciation Year (1-5) | 4.9% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 7.47% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$61,400
LOAN DETAILS
$775
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $52,500 |
| Loan Amount | $157,500 |
7.25
YEARS SAVED
$21,585
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,170
LIST RENT -
$0.9
LIST RENT PER SQFT
-
$1,225
COMP ESTIMATED VALUE -
$0.94
COMP AVG. RENT PER SQFT
Comps Range
-
506 Forest Ridge Road Garner, NC 1
- 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 1970
![property image]()
- Rent
- Rent Per SQFT
- $1,170
- $0.90
-
4814 Greenbrier Road Raleigh, NC 2
- 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 1963
![property image]()
LEASED 09/04/20- Rent
- Rent Per SQFT
- $1,295
- $0.96
-
4905 Greenbrier Road Raleigh, NC 3
- 3 beds 2 baths ∙ 1,527 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,527 Sqft ∙ Built 1971
![property image]()
LEASED 12/28/20- Rent
- Rent Per SQFT
- $1,400
- $0.92
-
1306 Timber Drive Garner, NC 4
- 3 beds 2 baths ∙ 1,550 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,550 Sqft ∙ Built 1977
![property image]()
LEASED 02/01/20- Rent
- Rent Per SQFT
- $1,425
- $0.92
-
1403 Buckhorn Road Garner, NC 5
- 3 beds 2 baths ∙ 1,490 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,490 Sqft ∙ Built 1990
![property image]()
LEASED 04/01/20- Rent
- Rent Per SQFT
- $1,450
- $0.97
PROPERTY LISTING DETAILS
1.919.724.3870
Cogu Realty Investments & Consulting Llc
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
MLS #: 2359701
Last Updated: 01/01/2021
