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PROPERTY INFO
FACTS
- Single Family
- Built In 2001
- Price/Sqft : $179.17
- 3 Days on Market
- MLS # : 2365336
- Updated Date : 02/05/2021 at 21:30
CONSTRUCTION
- Beds : 3
- Floor Size : 1,200 sqft
- Baths : 2 full , 1 half
Listing Agent
Mark Spain Real Estate
Listing Agent's Description
Great three bedroom home ONLY 1 MILE FROM THE BELTLINE in an awesome location. Hardwood floors in the living room with fireplace and entertainment above. EAT IN KITCHEN, LARGE UTILITY ROOM W/ PANTRY,CEILING FAN IN LIVING ROOM,GARDEN TUB &WALK-IN CLOSET, PULL DOWN STAIRCASE TO ATTIC.
SEE MORE
- 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: Williford Place
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Williford Place
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,150 |
| EXPENSES | Loan Payment | -$747 |
| Property Tax | -$158 | |
| Property Insurance | -$51 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$75
|
||
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.
$215,000
PROJECTED PRICE
$1,150
PROJECTED RENT
0.53%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.76% |
| Appreciation Year (1-5) | 7.0% |
| 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
$62,725
LOAN DETAILS
$747
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $53,750 |
| Loan Amount | $161,250 |
7.5
YEARS SAVED
$20,316
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,150
LIST RENT -
$0.96
LIST RENT PER SQFT
-
$1,144
COMP ESTIMATED VALUE -
$0.95
COMP AVG. RENT PER SQFT
Comps Range
-
5205 Pine Swell Way Raleigh, NC 2
- 3 beds 3 baths ∙ 1,200 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,200 Sqft ∙ Built 2001
- Rent
- Rent Per SQFT
- $1,150
- $0.96
-
2020 Ranch Mill Circle Raleigh, NC 1
- 3 beds 2 baths ∙ 1,222 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,222 Sqft ∙ Built 1990
LEASED 06/19/20- Rent
- Rent Per SQFT
- $1,145
- $0.94
-
4405 Viewmont Drive Raleigh, NC 3
- 3 beds 3 baths ∙ 1,368 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,368 Sqft ∙ Built 1998
LEASED 07/01/20- Rent
- Rent Per SQFT
- $1,295
- $0.95
-
3025 Bracey Place Raleigh, NC 4
- 3 beds 3 baths ∙ 1,386 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,386 Sqft ∙ Built 2001
LEASED 11/15/19- Rent
- Rent Per SQFT
- $1,350
- $0.97
PROPERTY LISTING DETAILS
1.770.886.9000
Mark Spain Real Estate
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
MLS #: 2365336
Last Updated: 02/05/2021
