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5225 Meryton Park Way Raleigh, NC 27616

3 Beds 3 Baths 2,217 sqft Built 2005

$279,999

List Price

$1,620

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $126.30
  • 3 Days on Market
  • MLS # : 2361782
  • Updated Date : 01/16/2021 at 17:56
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,217 sqft
  • Baths : 2 full , 1 half
Listing Agent

Amg Realty Llc

Listing Agent's Description

Gorgeous & Decked Out w/ UPGRADES w/ FULLY FENCED Yard, Massive BONUS Loft in Excellent Location! Loaded w/ NEW Carpet, FRESH Paint, Fireplace, Iron Railing, 2 Main Lvl Spacious Living Areas, Classic Hardwood Flooring, and More! OPEN Floor Plan w/ Great Ntl Light and Huge Kitchen w/ SS Appliances, Subway Tile Backsplash, and Island w/ Bar Seating! Large MBR Ste w/ WIC w/ Customized Shelving, Upgraded BA and Tray Ceiling! Lrg Secondary BR's & Spacious Backyard w/ Covered Porch! Mins from 540! Won't Last!

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

PRICE & RENT TRENDS

Neighborhood: Meryton

NeighborhoodNIR Market*CityMarket2010Year20002019140k150k160k170k180k190k200k210k220k230k240k250k260k270kPrice in $132k277k

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

Neighborhood: Meryton

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q29501000105011001150120012501300135014001450150015501600Rent in $9461630

* 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
Wildwood Forest Elementary School Primary Regular 831 56 4
East Millbrook Middle School Middle Magnet 985 67 2
Wakefield High School High Regular 2,387 132 5

Wildwood Forest Elementary School

  • Education Level: Primary
  • # of students: 831
  • # of teachers: 56
4
GreatSchools Rating

East Millbrook Middle School

  • Education Level: Middle
  • # of students: 985
  • # of teachers: 67
2
GreatSchools Rating

Wakefield High School

  • Education Level: High
  • # of students: 2,387
  • # of teachers: 132
5
GreatSchools Rating
 

$251,999$307,999$279,999

PURCHASE PRICE

$1,458$1,782$1,620

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,620
EXPENSES Loan Payment -$973
Property Tax -$217
Property Insurance -$70
HOA -$25
Property Management Fees -$119
CASH FLOW
$216

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.

$279,999

PROJECTED PRICE

$1,620

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 5.7%
Maintenance Year (1-5) 8.00%
Vacancy 7.49%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,950

INVESTMENT

$79,950

Down Payment
$70,000
Rehab Estimate
$5,750
Closing Costs
$4,200

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$973

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $70,000
Loan Amount $209,999
See What Happens When You Reinvest Cash Flow

9.5

YEARS SAVED

$37,521

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,620

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $1,629

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,6203$1,6504$1,6955$1,795
$1,795
RENT COMPS ANALYSIS
  • 5225 Meryton Park Way Raleigh, NC 2
    • 3 beds 3 baths ∙ 2,217 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,217 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,620
    • $0.73
    •  
  • 6013 Brambleberry Way Raleigh, NC 1
    • 3 beds 3 baths ∙ 2,185 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,185 Sqft ∙ Built 2004
    property image
    LEASED 02/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.69
    •  
  • 9741 Rainsong Drive Wake Forest, NC 3
    • 3 beds 3 baths ∙ 2,300 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,300 Sqft ∙ Built 2004
    property image
    LEASED 10/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.72
    •  
  • 8905 Elizabeth Bennet Place Raleigh, NC 4
    • 3 beds 3 baths ∙ 2,279 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,279 Sqft ∙ Built 2005
    property image
    LEASED 07/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.74
    •  
  • 5508 Cahaba Way Raleigh, NC 5
    • 4 beds 3 baths ∙ 2,270 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,270 Sqft ∙ Built 2000
    property image
    LEASED 02/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.79
    •  
PROPERTY LISTING DETAILS
Adam Grossman
1.919.451.5717
Amg Realty Llc
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2361782
Last Updated: 01/16/2021
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