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6113 Jordan Woods Drive Raleigh, NC 27603

4 Beds 3 Baths 2,305 sqft Built 1992

$299,900

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

February 10, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1992
  • Price/Sqft : $130.11
  • 6 Days on Market
  • MLS # : 2365949
  • Updated Date : 02/10/2021 at 18:36
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,305 sqft
  • Baths : 3 full
Listing Agent

Better Homes & Gardens Real Estate Paracle

Listing Agent's Description

Space, Space & MORE Space! Gorgeous 4 bd, 3 bth home with 1st floor master & potential 2nd floor master w/ office/ bonus room & loft all on 0.69 acres. Vaulting ceilings & picture windows let in the beautiful morning sun in your open kitchen. Enjoy that morning cup of coffee watching the wildlife in your wooded backyard from the screened porch. PLUS, lots of attic storage & separate garage storage room too! A little over a mile to NEW 540 interchange to access all of the triangle offers!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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: Jordan Woods

NeighborhoodNIR Market*CityMarket2010Year20002019160k180k200k220k240k260k280k300k320k340kPrice in $140k359k

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

Neighborhood: Jordan Woods

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2800900100011001200130014001500160017001800Rent in $7241873

* 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
Bryan Road Elementary Primary Regular NA
North Garner Middle School Middle Regular 948 59 3
South Garner High School High Unknown NA

Bryan Road Elementary

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

North Garner Middle School

  • Education Level: Middle
  • # of students: 948
  • # of teachers: 59
3
GreatSchools Rating

South Garner High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$269,910$329,890$299,900

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 -$1,042
Property Tax -$241
Property Insurance -$72
Property Management Fees -$119
CASH FLOW
$177

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 16% of earned rent to cover both maintenance and periods of vacancy.

$299,900

PROJECTED PRICE

$1,650

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.33%
Appreciation Year (1-5) 5.7%
Maintenance Year (1-5) 8.00%
Vacancy 7.51%
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$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$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,224

INVESTMENT

$85,224

Down Payment
$74,975
Rehab Estimate
$5,750
Closing Costs
$4,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% 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 $74,975
Loan Amount $224,925
See What Happens When You Reinvest Cash Flow

9.33

YEARS SAVED

$38,411

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
  • $0.72

    LIST RENT PER SQFT
  • $1,740

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6503$1,7004$1,800
$1,800
RENT COMPS ANALYSIS
  • 6113 Jordan Woods Drive Raleigh, NC 2
    • 4 beds 3 baths ∙ 2,279 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,279 Sqft ∙ Built 1992
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.72
    •  
  • 5508 Simmons Drive Garner, NC 1
    • 3 beds 2 baths ∙ 2,286 Sqft ∙ Built 1999 3 beds 2 baths ∙ 2,286 Sqft ∙ Built 1999
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.72
    •  
  • 67 Hobby Court Raleigh, NC 3
    • 3 beds 2 baths ∙ 2,316 Sqft ∙ Built 2000 3 beds 2 baths ∙ 2,316 Sqft ∙ Built 2000
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.73
    •  
  • 30 Natalie Drive Raleigh, NC 4
    • 3 beds 3 baths ∙ 2,144 Sqft ∙ Built 2000 3 beds 3 baths ∙ 2,144 Sqft ∙ Built 2000
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.84
    •  
PROPERTY LISTING DETAILS
Kathryn Mackinnon
1.919.770.8749
Better Homes & Gardens Real Estate Paracle
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2365949
Last Updated: 02/10/2021
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