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5404 Neuse Forest Road Raleigh, NC 27616

4 Beds 3 Baths 1,780 sqft Built 2003

$275,000

List Price

$1,570

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $154.49
  • 4 Days on Market
  • MLS # : 2374009
  • Updated Date : 03/26/2021 at 14:13
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,780 sqft
  • Baths : 2 full , 1 half
Listing Agent

Spencer Properties

Listing Agent's Description

COMING SOON!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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

Neighborhood: Park at Perry Creek

NeighborhoodNIR Market*CityMarket2010Year20002019140k150k160k170k180k190k200k210k220k230k240k250k260k270kPrice in $132k277k

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

Neighborhood: Park at Perry Creek

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q29501000105011001150120012501300135014001450150015501600Rent in $9441630

* 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
 

$247,500$302,500$275,000

PURCHASE PRICE

$1,413$1,727$1,570

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,570
EXPENSES Loan Payment -$955
Property Tax -$203
Property Insurance -$62
HOA -$33
Property Management Fees -$119
CASH FLOW
$199

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.

$275,000

PROJECTED PRICE

$1,570

PROJECTED RENT

0.57%

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$78,625

INVESTMENT

$78,625

Down Payment
$68,750
Rehab Estimate
$5,750
Closing Costs
$4,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$955

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $68,750
Loan Amount $206,250
See What Happens When You Reinvest Cash Flow

9.42

YEARS SAVED

$35,672

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,570

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,517

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,345
1$1,3452$1,4503$1,5704$1,5955$1,600
$1,600
RENT COMPS ANALYSIS
  • 5404 Neuse Forest Road Raleigh, NC 3
    • 4 beds 3 baths ∙ 1,780 Sqft ∙ Built 2003 4 beds 3 baths ∙ 1,780 Sqft ∙ Built 2003
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,570
    • $0.88
    •  
  • 8908 Elizabeth Bennett Place Raleigh, NC 1
    • 3 beds 3 baths ∙ 1,634 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,634 Sqft ∙ Built 2005
    property image
    LEASED 08/17/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,345
    • $0.82
    •  
  • 8908 Elizabeth Bennet Place Raleigh, NC 2
    • 3 beds 3 baths ∙ 1,634 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,634 Sqft ∙ Built 2005
    property image
    LEASED 09/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.89
    •  
  • 8508 Neuse Garden Drive Raleigh, NC 4
    • 3 beds 2 baths ∙ 1,850 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,850 Sqft ∙ Built 2002
    property image
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.86
    •  
  • 8882 Elizabeth Bennett Place Raleigh, NC 5
    • 3 beds 3 baths ∙ 1,910 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,910 Sqft ∙ Built 2005
    property image
    LEASED 06/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.84
    •  
PROPERTY LISTING DETAILS
Jennifer Spencer
1.919.809.8280
Spencer Properties
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2374009
Last Updated: 03/26/2021
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