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PROPERTY INFO
FACTS
- Single Family
- Built In 1991
- Price/Sqft : $157.62
- 4 Days on Market
- MLS # : 2359079
- Updated Date : 12/26/2020 at 22:23
CONSTRUCTION
- Beds : 3
- Floor Size : 1,364 sqft
- Baths : 2 full , 1 half
Listing Agent
Real Estate By Design
Listing Agent's Description
Attractive renovated home with stunning character and modern features. Freshly painted throughout, new hardwoods on the main level, new carpet and vinyl on the second floor, granite installed in kitchen and baths, new lighting and ceiling fans to name a few updates. Stainless package in the kitchen with backsplash to accent. Spacious inside as well as outside with a nice size yard offered in a cul de sac. This is a must see before it goes.
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)
- #7 Best Big City for Jobs 2018 (Forbes, 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)
- 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
Zip Code: 27703
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 27703
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,340 |
| EXPENSES | Loan Payment | -$793 |
| Property Tax | -$150 | |
| Property Insurance | -$53 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$225
|
||
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.
$215,000
PROJECTED PRICE
$1,340
PROJECTED RENT
0.62%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.11% |
| Appreciation Year (1-5) | 4.8% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 8.54% |
| 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
$793
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $53,750 |
| Loan Amount | $161,250 |
11.08
YEARS SAVED
$41,412
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,340
LIST RENT -
$0.98
LIST RENT PER SQFT
-
$1,350
COMP ESTIMATED VALUE -
$0.99
COMP AVG. RENT PER SQFT
Comps Range
-
54 S Engels Circle Durham, NC 2
- 3 beds 3 baths ∙ 1,364 Sqft ∙ Built 1991 3 beds 3 baths ∙ 1,364 Sqft ∙ Built 1991
- Rent
- Rent Per SQFT
- $1,340
- $0.98
-
313 Gladstone Drive Durham, NC 1
- 3 beds 3 baths ∙ 1,268 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,268 Sqft ∙ Built 2001
LEASED 07/29/20- Rent
- Rent Per SQFT
- $1,250
- $0.99
-
19 Windsor Glen Drive Durham, NC 3
- 3 beds 2 baths ∙ 1,538 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,538 Sqft ∙ Built 1998
LEASED 09/06/19- Rent
- Rent Per SQFT
- $1,495
- $0.97
-
3603 Thornwood Drive Durham, NC 4
- 4 beds 2 baths ∙ 1,517 Sqft ∙ Built 2001 4 beds 2 baths ∙ 1,517 Sqft ∙ Built 2001
LEASED 06/12/20- Rent
- Rent Per SQFT
- $1,495
- $0.99
-
509 Lodestone Drive Durham, NC 5
- 3 beds 3 baths ∙ 1,520 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,520 Sqft ∙ Built 2002
LEASED 12/28/19- Rent
- Rent Per SQFT
- $1,530
- $1.01
PROPERTY LISTING DETAILS
1.919.740.9894
Real Estate By Design
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
MLS #: 2359079
Last Updated: 12/26/2020
