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PROPERTY INFO
FACTS
- Single Family
- Built In 1981
- Price/Sqft : $177.82
- 3 Days on Market
- MLS # : 2354768
- Updated Date : 11/21/2020 at 16:58
CONSTRUCTION
- Beds : 3
- Floor Size : 1,434 sqft
- Baths : 2 full
Listing Agent
Inhabit Real Estate
Listing Agent's Description
YOU could be the new kids on the block with this 80's ranch that has all the right stuff. The outdoors is yours to enjoy, either swinging on the covered front porch, grilling on the back deck, gardening in the raised beds, playing fetch in the fenced yard, tinkering/projecting in the 3 car grg/wired wrkshp. This 3/2 has gas logs, '16 AC, '19 H2O heater, vinyl windows, laund+mud rm, open lving/dning/ktchn area. All that you could ever need in quiet North Durham, just waiting for you to put your mark on it!
SEE MORE
- 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
- 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)
PRICE & RENT TRENDS
Zip Code: 27712
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 27712
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,350 |
| EXPENSES | Loan Payment | -$941 |
| Property Tax | -$178 | |
| Property Insurance | -$55 | |
| Property Management Fees | -$122 | |
|
CASH FLOW
$55
|
||
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.
$255,000
PROJECTED PRICE
$1,350
PROJECTED RENT
0.53%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.42% |
| Appreciation Year (1-5) | 5.3% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 8.51% |
| 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
$73,325
LOAN DETAILS
$941
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $63,750 |
| Loan Amount | $191,250 |
5.33
YEARS SAVED
$17,364
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,350
LIST RENT -
$0.94
LIST RENT PER SQFT
-
$1,467
COMP ESTIMATED VALUE -
$1.02
COMP AVG. RENT PER SQFT
Comps Range
-
5804 Prioress Drive Durham, NC 2
- 3 beds 2 baths ∙ 1,434 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,434 Sqft ∙ Built 1981
- Rent
- Rent Per SQFT
- $1,350
- $0.94
-
6921 Russell Road Durham, NC 1
- 3 beds 2 baths ∙ 1,344 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,344 Sqft ∙ Built 1986
LEASED 08/25/20- Rent
- Rent Per SQFT
- $1,350
- $1.00
-
5610 Paces Ferry Drive Durham, NC 3
- 3 beds 3 baths ∙ 1,591 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,591 Sqft ∙ Built 2001
LEASED 02/01/20- Rent
- Rent Per SQFT
- $1,550
- $0.97
-
625 Wendy Way Durham, NC 4
- 3 beds 2 baths ∙ 1,456 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,456 Sqft ∙ Built 1981
LEASED 08/14/20- Rent
- Rent Per SQFT
- $1,595
- $1.10
PROPERTY LISTING DETAILS
1.919.949.5209
Inhabit Real Estate
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
MLS #: 2354768
Last Updated: 11/21/2020
