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PROPERTY INFO
FACTS
- Single Family
- Built In 1996
- Price/Sqft : $145.10
- 3 Days on Market
- MLS # : 2367827
- Updated Date : 02/20/2021 at 17:23
CONSTRUCTION
- Beds : 4
- Floor Size : 1,430 sqft
- Baths : 2 full
Listing Agent
Mark Spain Real Estate
Listing Agent's Description
Wonderful four bedroom two bath home in Durham's Stratton Park! First floor master bedroom, one car garage, and fenced in backyard.
SEE MORE
- 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
- #7 Best Big City for Jobs 2018 (Forbes, 2018)
- Major employers in Raleigh area: IBM, Cisco systems, Fidelity Investments, GlaxoSmithKline, RTI International
PRICE & RENT TRENDS
Zip Code: 27704
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 27704
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,430 |
| EXPENSES | Loan Payment | -$721 |
| Property Tax | -$180 | |
| Property Insurance | -$55 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$356
|
||
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.
$207,500
PROJECTED PRICE
$1,430
PROJECTED RENT
0.69%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.28% |
| Appreciation Year (1-5) | 6.7% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 8.55% |
| 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
$60,738
LOAN DETAILS
$721
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $51,875 |
| Loan Amount | $155,625 |
13.67
YEARS SAVED
$45,768
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,430
LIST RENT -
$1
LIST RENT PER SQFT
-
$1,387
COMP ESTIMATED VALUE -
$0.97
COMP AVG. RENT PER SQFT
Comps Range
-
513 Grammercy Place Durham, NC 4
- 4 beds 2 baths ∙ 1,430 Sqft ∙ Built 1996 4 beds 2 baths ∙ 1,430 Sqft ∙ Built 1996
![property image]()
- Rent
- Rent Per SQFT
- $1,430
- $1.00
-
22 Rhyn Court Durham, NC 1
- 3 beds 2 baths ∙ 1,218 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,218 Sqft ∙ Built 1991
![property image]()
LEASED 04/15/20- Rent
- Rent Per SQFT
- $1,100
- $0.90
-
2503 Mahala Drive Durham, NC 2
- 3 beds 2 baths ∙ 1,352 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,352 Sqft ∙ Built 1992
![property image]()
LEASED 12/02/19- Rent
- Rent Per SQFT
- $1,250
- $0.92
-
4022 Sudbury Road Durham, NC 3
- 3 beds 2 baths ∙ 1,175 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,175 Sqft ∙ Built 1997
![property image]()
LEASED 11/22/19- Rent
- Rent Per SQFT
- $1,275
- $1.09
-
511 Felicia Street Durham, NC 5
- 3 beds 3 baths ∙ 1,540 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,540 Sqft ∙ Built 2007
![property image]()
LEASED 08/17/20- Rent
- Rent Per SQFT
- $1,495
- $0.97
PROPERTY LISTING DETAILS
1.770.886.9000
Mark Spain Real Estate
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
MLS #: 2367827
Last Updated: 02/20/2021
