Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

6 Hawaii Court Durham, NC 27713

4 Beds 3 Baths 1,652 sqft Built 1973

$265,000

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 16, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1973
  • Price/Sqft : $160.41
  • 8 Days on Market
  • MLS # : 2353821
  • Updated Date : 11/21/2020 at 21:23
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,652 sqft
  • Baths : 2 full , 1 half
Listing Agent

Exp Realty

Listing Agent's Description

Come fall in love with this gorgeous renovated 4 bedroom 2.5 bath ranch home located in a Cul de sac featuring new carpets, new vinyl flooring, recess lighting, stainless steel appliances in a new kitchen, remodeled bathroom with new vanities and flooring. House has a huge new deck and a covered porch for outdoor activities. Professional photos and virtual tour will be available on Saturday.

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
  • 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: 27713

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $106k303k

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

Zip Code: 27713

ZipNIR Market*CityMarket2010Year2000 Q22019 Q290010001100120013001400150016001700Rent in $8591734

* 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
Southwest Elementary School Primary Regular 666 44 4
Lowe's Grove Magnet Middle School Middle Regular 708 47 3
Hillside High School High Regular 1,318 91 4

Southwest Elementary School

  • Education Level: Primary
  • # of students: 666
  • # of teachers: 44
4
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
 

$238,500$291,500$265,000

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$978
Property Tax -$230
Property Insurance -$59
Property Management Fees -$149
CASH FLOW
$235

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.

$265,000

PROJECTED PRICE

$1,650

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.42%
Appreciation Year (1-5) 4.6%
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$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

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$75,975

INVESTMENT

$75,975

Down Payment
$66,250
Rehab Estimate
$5,750
Closing Costs
$3,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$978

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $66,250
Loan Amount $198,750
See What Happens When You Reinvest Cash Flow

8.58

YEARS SAVED

$36,034

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,650

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $1,594

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,4503$1,5004$1,6505$1,800
$1,800
RENT COMPS ANALYSIS
  • 6 Hawaii Court Durham, NC 4
    • 4 beds 3 baths ∙ 1,652 Sqft ∙ Built 1973 4 beds 3 baths ∙ 1,652 Sqft ∙ Built 1973
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.00
    •  
  • 1119 Saxony Drive Durham, NC 1
    • 3 beds 2 baths ∙ 1,448 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,448 Sqft ∙ Built 1975
    property image
    LEASED 10/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.97
    •  
  • 3632 Manford Drive Durham, NC 2
    • 3 beds 3 baths ∙ 1,488 Sqft ∙ Built 1984 3 beds 3 baths ∙ 1,488 Sqft ∙ Built 1984
    property image
    LEASED 07/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.97
    •  
  • 3517 Abercromby Drive Durham, NC 3
    • 3 beds 3 baths ∙ 1,500 Sqft ∙ Built 1992 3 beds 3 baths ∙ 1,500 Sqft ∙ Built 1992
    property image
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.00
    •  
  • 3102 Hornbuckle Place Durham, NC 5
    • 3 beds 3 baths ∙ 1,960 Sqft ∙ Built 1978 3 beds 3 baths ∙ 1,960 Sqft ∙ Built 1978
    property image
    LEASED 06/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.92
    •  
PROPERTY LISTING DETAILS
Olumide Olurinmade
1.919.928.5232
Exp Realty
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2353821
Last Updated: 11/21/2020
BESbswy