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5201 Tant Circle Knightdale, NC 27545

3 Beds 3 Baths 1,952 sqft Built 2005

$250,000

List Price

$1,520

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 2005
  • Price/Sqft : $128.07
  • 9 Days on Market
  • MLS # : 2350544
  • Updated Date : 10/27/2020 at 14:45
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,952 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Preferred Realty

Listing Agent's Description

Coming Soon!!

MARKET HIGHLIGHTS

  • 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)
  • #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

PRICE & RENT TRENDS

Neighborhood: Rutledge Landing

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $99k265k

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

Neighborhood: Rutledge Landing

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2800900100011001200130014001500Rent in $7621595

* 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
Lake Myra Elementary School Primary Regular 631 46 2
Wendell Middle School Middle Regular 973 59 2
East Wake High School High Regular NA

Lake Myra Elementary School

  • Education Level: Primary
  • # of students: 631
  • # of teachers: 46
2
GreatSchools Rating

Wendell Middle School

  • Education Level: Middle
  • # of students: 973
  • # of teachers: 59
2
GreatSchools Rating

East Wake High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$225,000$275,000$250,000

PURCHASE PRICE

$1,368$1,672$1,520

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,520
EXPENSES Loan Payment -$922
Property Tax -$129
Property Insurance -$65
HOA -$12
Property Management Fees -$137
CASH FLOW
$255

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.

$250,000

PROJECTED PRICE

$1,520

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 6.1%
Maintenance Year (1-5) 8.00%
Vacancy 7.47%
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$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

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$72,000

INVESTMENT

$72,000

Down Payment
$62,500
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$922

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,500
Loan Amount $187,500
See What Happens When You Reinvest Cash Flow

10.17

YEARS SAVED

$43,713

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,520

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $1,444

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$1,200
1$1,2002$1,2503$1,520
$1,520
RENT COMPS ANALYSIS
  • 5201 Tant Circle Knightdale, NC 3
    • 3 beds 3 baths ∙ 1,952 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,952 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,520
    • $0.78
    •  
  • 1024 Tellis Drive Knightdale, NC 1
    • 3 beds 3 baths ∙ 1,628 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,628 Sqft ∙ Built 2006
    property image
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.74
    •  
  • 1233 Rutledge Landing Drive Knightdale, NC 2
    • 3 beds 3 baths ∙ 1,695 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,695 Sqft ∙ Built 2005
    property image
    LEASED 10/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.74
    •  
PROPERTY LISTING DETAILS
Pierre Lapierre
1.919.270.2717
Keller Williams Preferred Realty
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2350544
Last Updated: 10/27/2020
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