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5434 Lake Vista Drive Durham, NC 27712

3 Beds 2 Baths 1,800 sqft Built 1971

$300,000

List Price

$1,520

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 08, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1971
  • Price/Sqft : $166.67
  • 6 Days on Market
  • MLS # : 2356919
  • Updated Date : 12/11/2020 at 16:12
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,800 sqft
  • Baths : 2 full
Listing Agent

Fonville Morisey/durham Sales Office

Listing Agent's Description

Beautifully renovated Willowhaven painted brick ranch home with detached garage & workshop! Formal living and dining rooms, family room w/ brick fireplace, kitchen w/ new cabinets, granite countertops, appliances, both full baths w/ tile floors/surround/new cabinets. New luxury vinyl plank flooring & carpeting, new interior/exterior paint/plumbing & lighting fixtures/mirrors/handles/etc. New architectural shingles, gutters, facia/soffit, landscaping! Great location, large .46 acre lot! A Must to See!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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: Willowhaven

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $106k314k

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

Neighborhood: Willowhaven

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q290010001100120013001400150016001700Rent in $8591752

* 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
Easley Year-round Magnet Elementary School Primary Regular 572 36 5
Carrington Middle School Middle Regular 1,094 72 4
Northern High School High Regular 1,448 83 3

Easley Year-round Magnet Elementary School

  • Education Level: Primary
  • # of students: 572
  • # of teachers: 36
5
GreatSchools Rating

Carrington Middle School

  • Education Level: Middle
  • # of students: 1,094
  • # of teachers: 72
4
GreatSchools Rating

Northern High School

  • Education Level: High
  • # of students: 1,448
  • # of teachers: 83
3
GreatSchools Rating
 

$270,000$330,000$300,000

PURCHASE PRICE

$1,368$1,672$1,520

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,520
EXPENSES Loan Payment -$1,107
Property Tax -$209
Property Insurance -$62
Property Management Fees -$119
CASH FLOW
$24

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.

$300,000

PROJECTED PRICE

$1,520

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.42%
Appreciation Year (1-5) 4.1%
Maintenance Year (1-5) 8.00%
Vacancy 8.51%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

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

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$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $75,000
Loan Amount $225,000
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$21,516

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,520

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,503

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5203$1,700
$1,700
RENT COMPS ANALYSIS
  • 5434 Lake Vista Drive Durham, NC 2
    • 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 1971
    • Rent
    • Rent Per SQFT
    •  
    • $1,520
    • $0.84
    •  
  • 5110 Raintree Road Durham, NC 1
    • 3 beds 2 baths ∙ 2,045 Sqft ∙ Built 1978 3 beds 2 baths ∙ 2,045 Sqft ∙ Built 1978
    LEASED 12/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.73
    •  
  • 5011 Autumn Drive Durham, NC 3
    • 3 beds 2 baths ∙ 1,805 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,805 Sqft ∙ Built 1964
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.94
    •  
PROPERTY LISTING DETAILS
Dusty Butler
1.919.493.4434
Fonville Morisey/durham Sales Office
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2356919
Last Updated: 12/11/2020
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