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5419 Revere Road Durham, NC 27713

3 Beds 2 Baths 1,419 sqft Built 1972

$299,000

List Price

$1,390

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1972
  • Price/Sqft : $210.71
  • 3 Days on Market
  • MLS # : 2370438
  • Updated Date : 03/06/2021 at 22:38
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,419 sqft
  • Baths : 2 full
Listing Agent

Fathom Realty Nc, Llc

Listing Agent's Description

Seriously folks? Get over to this renovated Parkwood gem, like now! This one's got it ALL! Brand spankin' new luxe flooring throughout, a fully renovated to die for kitchen complete with a gas stovetop and stunning granite countertops, and head to toe new bathrooms with a swoon-worthy master bath so you can check off that "spa vibes" checklist. Open concept main floor living with a wood burning fireplace, a three season room that your neighbors are already coveting, and a great back yard to top it off!

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
  • #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)

PRICE & RENT TRENDS

Neighborhood: Parkwood

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $98k274k

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

Neighborhood: Parkwood

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q280085090095010001050110011501200125013001350140014501500Rent in $7971518

* 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
Parkwood Elementary School Primary Regular 585 38 5
Lowe's Grove Magnet Middle School Middle Regular 708 47 3
Hillside High School High Regular 1,318 91 4

Parkwood Elementary School

  • Education Level: Primary
  • # of students: 585
  • # of teachers: 38
5
GreatSchools Rating

Lowe's Grove Magnet Middle School

  • Education Level: Middle
  • # of students: 708
  • # of teachers: 47
3
GreatSchools Rating

Hillside High School

  • Education Level: High
  • # of students: 1,318
  • # of teachers: 91
4
GreatSchools Rating
 

$269,100$328,900$299,000

PURCHASE PRICE

$1,251$1,529$1,390

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,390
EXPENSES Loan Payment -$1,039
Property Tax -$259
Property Insurance -$55
HOA -$19
Property Management Fees -$119
CASH FLOW
-$100

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.

$299,000

PROJECTED PRICE

$1,390

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.11%
Appreciation Year (1-5) 7.3%
Maintenance Year (1-5) 8.00%
Vacancy 8.54%
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-$4.0k-$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$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$84,985

INVESTMENT

$84,985

Down Payment
$74,750
Rehab Estimate
$5,750
Closing Costs
$4,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,039

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $74,750
Loan Amount $224,250
See What Happens When You Reinvest Cash Flow

4

YEARS SAVED

$10,352

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,390

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,311

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,295
1$1,2952$1,3903$1,4004$1,4955$1,595
$1,595
RENT COMPS ANALYSIS
  • 5419 Revere Road Durham, NC 2
    • 3 beds 2 baths ∙ 1,445 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,445 Sqft ∙ Built 1972
    • Rent
    • Rent Per SQFT
    •  
    • $1,390
    • $0.96
    •  
  • 122 Lattimore Lane Durham, NC 1
    • 4 beds 2 baths ∙ 1,452 Sqft ∙ Built 1961 4 beds 2 baths ∙ 1,452 Sqft ∙ Built 1961
    LEASED 12/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.89
    •  
  • 104 Emerald Circle Durham, NC 3
    • 3 beds 3 baths ∙ 1,649 Sqft ∙ Built 1963 3 beds 3 baths ∙ 1,649 Sqft ∙ Built 1963
    LEASED 09/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.85
    •  
  • 5115 Timmons Drive Durham, NC 4
    • 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 1975
    LEASED 10/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.93
    •  
  • 5902 Newhall Road Durham, NC 5
    • 3 beds 2 baths ∙ 1,656 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,656 Sqft ∙ Built 1972
    LEASED 11/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.96
    •  
PROPERTY LISTING DETAILS
Dylan Childrey
1.919.434.1247
Fathom Realty Nc, Llc
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2370438
Last Updated: 03/06/2021
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