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57 Angie Road Raleigh, NC 27603

3 Beds 2 Baths 1,544 sqft Built 1995

$250,000

List Price

$1,460

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

January 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1995
  • Price/Sqft : $161.92
  • 6 Days on Market
  • MLS # : 2363370
  • Updated Date : 01/27/2021 at 19:29
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,544 sqft
  • Baths : 2 full
Listing Agent

Raleigh Cary Realty Inc.

Listing Agent's Description

Lovely Waterfront ranch home with outstanding split BR floor-plan. Enjoy views of pond from the sunroom & eat in kitchen with lots of cabinet space! Spacious living room with stone fireplace & built-in bookshelves, cathedral ceiling. Owner's suite with his & her closets, large bathroom includes ceramic double shower. Detached garage & wired workshop, barn, gazebo & fenced area. Lot includes part of pond. Serene country feel yet close to shopping, 40/42. Minutes to downtown Raleigh! All Appliances convey!

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: South Lake

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $114k277k

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

Neighborhood: South Lake

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q28009001000110012001300140015001600Rent in $7801630

* 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
West View Elementary School Primary Regular 943 57 4
Cleveland Middle School Middle Regular 1,163 64 7
West Johnston High School High Regular 1,359 83 5

West View Elementary School

  • Education Level: Primary
  • # of students: 943
  • # of teachers: 57
4
GreatSchools Rating

Cleveland Middle School

  • Education Level: Middle
  • # of students: 1,163
  • # of teachers: 64
7
GreatSchools Rating

West Johnston High School

  • Education Level: High
  • # of students: 1,359
  • # of teachers: 83
5
GreatSchools Rating
 

$225,000$275,000$250,000

PURCHASE PRICE

$1,314$1,606$1,460

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,460
EXPENSES Loan Payment -$868
Property Tax -$158
Property Insurance -$57
Property Management Fees -$119
CASH FLOW
$257

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.

$250,000

PROJECTED PRICE

$1,460

PROJECTED RENT

0.58%

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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$72,000

INVESTMENT

$72,000

Down Payment
$62,500
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$868

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $62,500
Loan Amount $187,500
See What Happens When You Reinvest Cash Flow

11.17

YEARS SAVED

$41,425

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,460

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,529

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,4003$1,460
$1,460
RENT COMPS ANALYSIS
  • 57 Angie Road Raleigh, NC 3
    • 3 beds 2 baths ∙ 1,544 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,544 Sqft ∙ Built 1995
    • Rent
    • Rent Per SQFT
    •  
    • $1,460
    • $0.95
    •  
  • 1029 Forest Glen Drive Raleigh, NC 1
    • 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1996
    LEASED 05/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.13
    •  
  • 629 Trunecek Circle Raleigh, NC 2
    • 3 beds 2 baths ∙ 1,632 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,632 Sqft ∙ Built 1996
    LEASED 06/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.86
    •  
PROPERTY LISTING DETAILS
George Wilson
1.919.439.0965
Raleigh Cary Realty Inc.
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2363370
Last Updated: 01/27/2021
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