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5321 Trestlewood Lane Raleigh, NC 27610

3 Beds 2 Baths 1,316 sqft Built 1986

$234,900

List Price

$1,150

$1K - $1.3K

Rent Est.

PROPERTY INFO

January 29, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $178.50
  • 3 Days on Market
  • MLS # : 2364004
  • Updated Date : 01/29/2021 at 18:36
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,316 sqft
  • Baths : 2 full
Listing Agent

Lifstyl Real Estate Raleigh

Listing Agent's Description

VERY NICE 3BEDROOM 2 FULL BATHROOM RANCH IN A VERY NICE SUBDIVISION,NICE PRIVATE FENCED BACK YARD AND STAINED DECK, FRONT COVERD PORCH, VERY NICE UPDATES INCLUDING GRANITE COUNTERTOP AND STAINLESS STEEL APPLIANCES,NEW LAMINATE ENTIRE FLOOES, NEW PAINT INTERIOR AND EXTERIOR, NEW TILED BATHS,NICE STAINED GARAGE, LOT MORE. MUST SEE.

SEE MORE

MARKET HIGHLIGHTS

  • #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
  • 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: Meadows at Eaglechase

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $107k277k

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

Neighborhood: Meadows at Eaglechase

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q29001000110012001300140015001600Rent in $8231630

* 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
Barwell Road Elementary School Primary Regular 798 57 3
F.j. Carnage Gt/aig Magnet Middle School Middle Magnet 1,156 69 5
South Garner High School High Unknown NA

Barwell Road Elementary School

  • Education Level: Primary
  • # of students: 798
  • # of teachers: 57
3
GreatSchools Rating

F.j. Carnage Gt/aig Magnet Middle School

  • Education Level: Middle
  • # of students: 1,156
  • # of teachers: 69
5
GreatSchools Rating

South Garner High School

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

$211,410$258,390$234,900

PURCHASE PRICE

$1,035$1,265$1,150

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,150
EXPENSES Loan Payment -$816
Property Tax -$173
Property Insurance -$53
HOA -$12
Property Management Fees -$119
CASH FLOW
-$22

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.

$234,900

PROJECTED PRICE

$1,150

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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
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$67,999

INVESTMENT

$67,999

Down Payment
$58,725
Rehab Estimate
$5,750
Closing Costs
$3,524

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$816

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $58,725
Loan Amount $176,175
See What Happens When You Reinvest Cash Flow

5.25

YEARS SAVED

$12,816

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
  • $0.87

    LIST RENT PER SQFT
  • $1,260

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,145
1$1,1452$1,1503$1,2954$1,3505$1,350
$1,350
RENT COMPS ANALYSIS
  • 5321 Trestlewood Lane Raleigh, NC 2
    • 3 beds 2 baths ∙ 1,316 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,316 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $0.87
    •  
  • 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
    •  
  • 3131 Marcony Way Raleigh, NC 5
    • 3 beds 3 baths ∙ 1,391 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,391 Sqft ∙ Built 2001
    LEASED 12/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.97
    •  
PROPERTY LISTING DETAILS
Alan Khorram
1.919.625.8989
Lifstyl Real Estate Raleigh
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2364004
Last Updated: 01/29/2021
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