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5210 Suda Drive Durham, NC 27703

3 Beds 3 Baths 1,355 sqft Built 2007

$260,000

List Price

$1,300

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

December 17, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $191.88
  • 4 Days on Market
  • MLS # : 2358252
  • Updated Date : 12/17/2020 at 22:15
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,355 sqft
  • Baths : 2 full , 1 half
Listing Agent

Opendoor Brokerage Llc

Listing Agent's Description

This Durham two-story home offers a patio. This home is vacant and cleaned regularly.

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

PRICE & RENT TRENDS

Neighborhood: Stirrup Creek

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $106k303k

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

Neighborhood: Stirrup Creek

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q290010001100120013001400150016001700Rent in $8591734

* 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
Bethesda Elementary School Primary Regular 671 43 3
Lowe's Grove Magnet Middle School Middle Regular 708 47 3
Hillside High School High Regular 1,318 91 4

Bethesda Elementary School

  • Education Level: Primary
  • # of students: 671
  • # of teachers: 43
3
GreatSchools Rating

Lowe's Grove Magnet Middle School

  • Education Level: Middle
  • # of students: 708
  • # of teachers: 47
3
GreatSchools Rating

Hillside High School

  • Education Level: High
  • # of students: 1,318
  • # of teachers: 91
4
GreatSchools Rating
 

$234,000$286,000$260,000

PURCHASE PRICE

$1,170$1,430$1,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,300
EXPENSES Loan Payment -$959
Property Tax -$225
Property Insurance -$53
HOA -$25
Property Management Fees -$119
CASH FLOW
-$82

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.

$260,000

PROJECTED PRICE

$1,300

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.42%
Appreciation Year (1-5) 5.0%
Maintenance Year (1-5) 8.00%
Vacancy 8.51%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

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$74,650

INVESTMENT

$74,650

Down Payment
$65,000
Rehab Estimate
$5,750
Closing Costs
$3,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$959

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $65,000
Loan Amount $195,000
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$9,365

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,300

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,296

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,4003$1,4954$1,550
$1,550
RENT COMPS ANALYSIS
  • 5210 Suda Drive Durham, NC 1
    • 3 beds 3 baths ∙ 1,355 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,355 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.96
    •  
  • 105 Kingsley Woods Drive Durham, NC 2
    • 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 1992
    LEASED 11/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.04
    •  
  • 1704 Shiva Court Durham, NC 3
    • 3 beds 3 baths ∙ 1,632 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,632 Sqft ∙ Built 2002
    LEASED 09/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.92
    •  
  • 1907 Raj Drive Durham, NC 4
    • 3 beds 3 baths ∙ 1,702 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,702 Sqft ∙ Built 2004
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.91
    •  
PROPERTY LISTING DETAILS
Verria Hairston
1.919.679.9883
Opendoor Brokerage Llc
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2358252
Last Updated: 12/17/2020
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