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5906 Loyal Avenue Durham, NC 27713

3 Beds 2 Baths 1,572 sqft Built 1962

$275,000

List Price

$1,380

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1962
  • Price/Sqft : $174.94
  • 4 Days on Market
  • MLS # : 2374401
  • Updated Date : 03/26/2021 at 20:23
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,572 sqft
  • Baths : 2 full
Listing Agent

Classic Carolina Realty Group,

Listing Agent's Description

Remarks to follow.

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: Carpenter-Fletcher

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $98k274k

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

Neighborhood: Carpenter-Fletcher

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q290095010001050110011501200125013001350140014501500Rent in $8591518

* 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
 

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

PURCHASE PRICE

$1,242$1,518$1,380

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,380
EXPENSES Loan Payment -$955
Property Tax -$238
Property Insurance -$57
Property Management Fees -$119
CASH FLOW
$10

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.

$275,000

PROJECTED PRICE

$1,380

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.11%
Appreciation Year (1-5) 4.6%
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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$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 50% 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

5.67

YEARS SAVED

$17,627

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,380

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,423

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,295
1$1,2952$1,3803$1,4954$1,5955$1,600
$1,600
RENT COMPS ANALYSIS
  • 5906 Loyal Avenue Durham, NC 2
    • 3 beds 2 baths ∙ 1,572 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,572 Sqft ∙ Built 1962
    • Rent
    • Rent Per SQFT
    •  
    • $1,380
    • $0.88
    •  
  • 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
    •  
  • 5115 Timmons Drive Durham, NC 3
    • 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
    •  
  • 5841 Sandstone Drive Durham, NC 4
    • 3 beds 3 baths ∙ 1,825 Sqft ∙ Built 1969 3 beds 3 baths ∙ 1,825 Sqft ∙ Built 1969
    LEASED 10/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.87
    •  
  • 5000 Timmons Drive Durham, NC 5
    • 3 beds 2 baths ∙ 1,728 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,728 Sqft ∙ Built 1975
    LEASED 11/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.93
    •  
PROPERTY LISTING DETAILS
Karen Roberts
1.919.475.8686
Classic Carolina Realty Group,
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2374401
Last Updated: 03/26/2021
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