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PROPERTY INFO
FACTS
- Single Family
- Built In 1999
- Price/Sqft : $207.30
- 3 Days on Market
- MLS # : 2363054
- Updated Date : 01/24/2021 at 00:26
CONSTRUCTION
- Beds : 3
- Floor Size : 1,302 sqft
- Baths : 2 full
Listing Agent
Success Realty, Inc.
Listing Agent's Description
LOCATION, LOCATION, LOCATION!!! This Hope Valley Farms gem offers a two-story great room with a wood burning fireplace, laminate flooring, ceramic tile in the kitchen and a first floor master bedroom and a private, partially fence backyard! The home is just minutes from shopping, schools and highways. Schedule this one ASAP!
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)
- #7 Best Big City for Jobs 2018 (Forbes, 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
- One of Top 10 cities for Small Business Friendliness (Thumbtack, 2018)
PRICE & RENT TRENDS
Neighborhood: Hope Valley Farms North
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Hope Valley Farms North
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
INCOME | Rent | $1,360 |
EXPENSES | Loan Payment | -$937 |
Property Tax | -$234 | |
Property Insurance | -$52 | |
HOA | -$27 | |
Property Management Fees | -$119 | |
CASH FLOW
-$9
|
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.
$269,900
PROJECTED PRICE
$1,360
PROJECTED RENT
0.50%
PROJECTED RENT / PRICE RATIO
Expense Inflation | 2.50% |
Rental Growth Year (1-5) | 3.42% |
Appreciation Year (1-5) | 6.4% |
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
$77,274
LOAN DETAILS
$937
MONTHLY LOAN PAYMENT
Term | 30 Years |
Interest | 3.75% |
Down Payment | $67,475 |
Loan Amount | $202,425 |
4.67
YEARS SAVED
$12,657
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,360
LIST RENT -
$1.04
LIST RENT PER SQFT
-
$1,289
COMP ESTIMATED VALUE -
$0.99
COMP AVG. RENT PER SQFT
Comps Range
PROPERTY LISTING DETAILS
1.919.544.5100
Success Realty, Inc.
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
MLS #: 2363054
Last Updated: 01/24/2021