Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

5224 Carrier Way Raleigh, NC 27603

3 Beds 2 Baths 1,200 sqft Built 1988

$230,000

List Price

$1,190

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

November 23, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $191.67
  • 7 Days on Market
  • MLS # : 2354964
  • Updated Date : 11/26/2020 at 04:44
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,200 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Advantage

Listing Agent's Description

Great Ranch home with 3 bed 2 bath on level .88 acres. No HOA. Spacious kitchen, breakfast bar. Large Living Rm with vaulted ceiling & fireplace. French doors lead to huge deck overlooking private fenced backyard. Relax on your front porch. Huge shed & storage room. New roof, HVAC & ducts in 2018 Newer laminate floors & Newer Vinyl windows, long concrete drive. Quick access to future I540 with Stage Rd interchange less than 2 miles away. Convenient to shopping & Lake Wheeler Park. RV hookup in back yard.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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: Stagecoach

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $111k359k

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

Neighborhood: Stagecoach

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2700800900100011001200130014001500160017001800Rent in $6391873

* 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
Vance Elementary School Primary Regular 461 33 5
North Garner Middle School Middle Regular 948 59 3
Garner High School High Magnet 2,650 145 3

Vance Elementary School

  • Education Level: Primary
  • # of students: 461
  • # of teachers: 33
5
GreatSchools Rating

North Garner Middle School

  • Education Level: Middle
  • # of students: 948
  • # of teachers: 59
3
GreatSchools Rating

Garner High School

  • Education Level: High
  • # of students: 2,650
  • # of teachers: 145
3
GreatSchools Rating
 

$207,000$253,000$230,000

PURCHASE PRICE

$1,071$1,309$1,190

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,190
EXPENSES Loan Payment -$849
Property Tax -$169
Property Insurance -$51
Property Management Fees -$107
CASH FLOW
$15

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 16% of earned rent to cover both maintenance and periods of vacancy.

$230,000

PROJECTED PRICE

$1,190

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.33%
Appreciation Year (1-5) 8.3%
Maintenance Year (1-5) 8.00%
Vacancy 7.51%
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$800k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$66,700

INVESTMENT

$66,700

Down Payment
$57,500
Rehab Estimate
$5,750
Closing Costs
$3,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$849

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $57,500
Loan Amount $172,500
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$17,036

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,190

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $1,184

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,190
1$1,1902$1,1953$1,2954$1,495
$1,495
RENT COMPS ANALYSIS
  • 5224 Carrier Way Raleigh, NC 1
    • 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $1,190
    • $0.99
    •  
  • 1309 Mooreland Court Raleigh, NC 2
    • 3 beds 2 baths ∙ 1,150 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,150 Sqft ∙ Built 2000
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $1.04
    •  
  • 5520 Moorhaven Drive Raleigh, NC 3
    • 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 1997
    LEASED 06/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.89
    •  
  • 5528 Moorhaven Drive Raleigh, NC 4
    • 3 beds 2 baths ∙ 1,446 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,446 Sqft ∙ Built 1999
    LEASED 04/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.03
    •  
PROPERTY LISTING DETAILS
Jim Dicks
1.919.880.6633
Coldwell Banker Advantage
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2354964
Last Updated: 11/26/2020
BESbswy