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6012 Bur Trail Raleigh, NC 27616

4 Beds 3 Baths 2,390 sqft Built 1988

$300,000

List Price

$1,500

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 21, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $125.52
  • 8 Days on Market
  • MLS # : 2368032
  • Updated Date : 02/27/2021 at 22:05
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,390 sqft
  • Baths : 3 full
Listing Agent

Costello Real Estate & Investments Triangle, Llc

Listing Agent's Description

Spring is here. Great living has sprung. Relax in this Ranch home, rock away on this covered front porch or enjoy your privacy with a large back deck. Overlooking wooded back yard on this 1/2 acre lot. Come inside. Fresh paint thru out the house. Orig hardwood floors, fresh carpet in all 4 bedrooms and 3 Full Baths. Lots of Sunlight. This home has a Walk out finished Basement. Enjoy the entertainment of your choosing in your multi media room. Hop on nearby 540/401, shop amenities and nearby restaurants

SEE MORE

MARKET HIGHLIGHTS

  • #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)
  • 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: Strawns Crossing

NeighborhoodNIR Market*CityMarket2010Year20002019140k150k160k170k180k190k200k210k220k230k240k250k260k270kPrice in $132k277k

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

Neighborhood: Strawns Crossing

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q29501000105011001150120012501300135014001450150015501600Rent in $9461630

* 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
Fox Road Elementary School Primary Regular 706 53 4
Wake Forest Middle School Middle Regular 1,021 60 4
Wakefield High School High Regular 2,387 132 5

Fox Road Elementary School

  • Education Level: Primary
  • # of students: 706
  • # of teachers: 53
4
GreatSchools Rating

Wake Forest Middle School

  • Education Level: Middle
  • # of students: 1,021
  • # of teachers: 60
4
GreatSchools Rating

Wakefield High School

  • Education Level: High
  • # of students: 2,387
  • # of teachers: 132
5
GreatSchools Rating
 

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

PURCHASE PRICE

$1,350$1,650$1,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,500
EXPENSES Loan Payment -$1,042
Property Tax -$226
Property Insurance -$67
Property Management Fees -$119
CASH FLOW
$46

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.

$300,000

PROJECTED PRICE

$1,500

PROJECTED RENT

0.50%

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$1.0M

PROJECTED ANNUAL CASH FLOW

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

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 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,042

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $75,000
Loan Amount $225,000
See What Happens When You Reinvest Cash Flow

6.42

YEARS SAVED

$22,633

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,500

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $1,643

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5503$1,5504$1,7005$1,700
$1,700
RENT COMPS ANALYSIS
  • 6012 Bur Trail Raleigh, NC 1
    • 4 beds 3 baths ∙ 2,047 Sqft ∙ Built 1988 4 beds 3 baths ∙ 2,047 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.73
    •  
  • 5529 Wedgegate Drive Raleigh, NC 2
    • 4 beds 3 baths ∙ 1,929 Sqft ∙ Built 1999 4 beds 3 baths ∙ 1,929 Sqft ∙ Built 1999
    LEASED 10/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.80
    •  
  • 5604 Cardinal Grove Boulevard Raleigh, NC 3
    • 4 beds 3 baths ∙ 1,960 Sqft ∙ Built 1997 4 beds 3 baths ∙ 1,960 Sqft ∙ Built 1997
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.79
    •  
  • 6421 Virgilia Court Raleigh, NC 4
    • 4 beds 3 baths ∙ 2,028 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,028 Sqft ∙ Built 1999
    LEASED 03/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.84
    •  
  • 6624 Professor Street Raleigh, NC 5
    • 3 beds 2 baths ∙ 2,175 Sqft ∙ Built 2000 3 beds 2 baths ∙ 2,175 Sqft ∙ Built 2000
    LEASED 02/09/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.78
    •  
PROPERTY LISTING DETAILS
Michael Mayes
1.919.673.5318
Costello Real Estate & Investments Triangle, Llc
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2368032
Last Updated: 02/27/2021
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