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618 Edenberry Drive Durham, NC 27713

3 Beds 2 Baths 1,302 sqft Built 1999

$269,900

List Price

$1,360

$1.2K - $1.5K

Rent Est.

$77,274

Investment Est.

AVAILABLE

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AVAILABLE

1 Year
(+6.4%)
1 YR. PROJ. APPRECIATION


Cap Rate	3.3%
Cash Flow	-$108
Value Increase	$17,724

10 YEAR

Cash On Cash	-2.0%
Total Return	11.1%

PROPERTY INFO

January 22, 2021 RECENTLY ADDED

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!

619 Edenberry Dr

Durham, North Carolina

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MARKET HIGHLIGHTS

Raleigh Market Report

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)

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

NAME	EDUCATIONAL LEVEL	SCHOOL TYPE	# OF STUDENTS	# OF TEACHERS	GREATSCHOOLS RATING
Southwest Elementary School	Primary	Regular	666	44	4
Sherwood Githens Middle School	Middle	Regular	1,011	62	5
Charles E. Jordan High School	High	Regular	1,848	107	4

Southwest Elementary School

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

GreatSchools Rating

Sherwood Githens Middle School

Education Level: Middle
# of students: 1,011
# of teachers: 62

GreatSchools Rating

Charles E. Jordan High School

Education Level: High
# of students: 1,848
# of teachers: 107

GreatSchools Rating

FINANCIALS

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$242,910$296,89000$269,900

PURCHASE PRICE

$1,224$1,49600$1,360

RENT

DOWN PAYMENT

FINANCING

OFF ON

Acquisition Concierge

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PROPERTY

Expense Inflation	%
Vacancy	%
Length of Stay
Expense Inflation	%
Vacancy	%
Length of Stay

YEAR (1-5)

Appreciation	%
Rental Growth	%
Maintenance	%

YEAR (1-5)

Appreciation	%
Rental Growth	%
Maintenance	%

YEAR (6+)

Appreciation	%
Rental Growth	%
Maintenance	%

INVESTMENT

Rehab Costs
Reinvest Cash Flow	Yes No
Interest Rate	%

INVESTMENT

Rehab Costs
Reinvest Cash Flow	Yes No
Interest Rate	%

Learn how to read this

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

ASSUMPTIONS
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

Tenant Turnover

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

Appreciation
Principal
Loan Balance

TOTAL CASH OUT OF POCKET

INVESTMENT

$77,274

Down Payment	$67,475
Rehab Estimate	$5,750
Closing Costs	$4,049

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$937

MONTHLY LOAN PAYMENT

30 yr

3.75%

25.00%

Down Payment

Term	30 Years
Interest	3.75%
Down Payment	$67,475
Loan Amount	$202,425

See What Happens When You Reinvest Cash Flow

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

$1,360

1$1,3602$1,4503$1,4504$1,4505$1,500

$1,500

RENT COMPS ANALYSIS

1,302
PROPERTY SQFT
$0.99
AVG RENT PER SQFT
$1,289
ESTIMATED VALUE
$1,360
LIST RENT

618 Edenberry Drive Durham, NC 5

3 beds 2 baths ∙ 1,302 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,302 Sqft ∙ Built 1999
Price

Price Per SQFT

$269,900

$207.30
4 Deep Forest Drive Durham, NC 1

3 beds 2 baths ∙ 1,352 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,352 Sqft ∙ Built 1998
SOLD 01/31/20
Price

Price Per SQFT

$159,415

$117.91
4123 Tranquil Road Durham, NC 2

3 beds 2 baths ∙ 1,271 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,271 Sqft ∙ Built 1994
SOLD 12/01/20
Price

Price Per SQFT

$190,000

$149.49
3118 Cedarwood Drive Durham, NC 3

3 beds 2 baths ∙ 1,468 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,468 Sqft ∙ Built 1994
SOLD 04/30/20
Price

Price Per SQFT

$220,000

$149.86
20 Porters Glen Place Durham, NC 4

3 beds 3 baths ∙ 1,515 Sqft ∙ Built 1994 3 beds 3 baths ∙ 1,515 Sqft ∙ Built 1994
SOLD 01/23/20
Price

Price Per SQFT

$222,500

$146.86

618 Edenberry Drive Durham, NC 1

3 beds 2 baths ∙ 1,302 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,302 Sqft ∙ Built 1999
Rent

Rent Per SQFT

$1,360

$1.04
4407 Nightfall Court Durham, NC 2

4 beds 3 baths ∙ 1,500 Sqft ∙ Built 1999 4 beds 3 baths ∙ 1,500 Sqft ∙ Built 1999
LEASED 10/05/19
Rent

Rent Per SQFT

$1,450

$0.97
5 Leeward Court Durham, NC 3

3 beds 2 baths ∙ 1,425 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,425 Sqft ∙ Built 1987
LEASED 03/02/20
Rent

Rent Per SQFT

$1,450

$1.02
3632 Manford Drive Durham, NC 4

3 beds 3 baths ∙ 1,488 Sqft ∙ Built 1984 3 beds 3 baths ∙ 1,488 Sqft ∙ Built 1984
LEASED 07/25/20
Rent

Rent Per SQFT

$1,450

$0.97
4503 Nightfall Court Durham, NC 5

4 beds 2 baths ∙ 1,500 Sqft ∙ Built 1999 4 beds 2 baths ∙ 1,500 Sqft ∙ Built 1999
LEASED 12/15/20
Rent

Rent Per SQFT

$1,500

$1.00

PROPERTY LISTING DETAILS

Whitney Rich
1.919.544.5100
Success Realty, Inc.

Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317

Triangle Multiple Listing Service ( TMLS)
MLS #: 2363054
Last Updated: 01/24/2021

618 Edenberry Drive Durham, NC 27713

$269,900

$1,360

$77,274

REQUEST INFO

PROPERTY INFO

FACTS

CONSTRUCTION

Listing Agent

Listing Agent's Description

MARKET HIGHLIGHTS

PRICE & RENT TRENDS

SCHOOLS

Southwest Elementary School

Sherwood Githens Middle School

Charles E. Jordan High School

FINANCIALS

$242,910$296,89000$269,900

$1,224$1,49600$1,360

Acquisition Concierge

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

$269,900

$1,360

0.50%

PROJECTED ACCUMULATED WEALTH

PROJECTED ANNUAL CASH FLOW

PROJECTED PROPERTY VALUE

TOTAL CASH OUT OF POCKET

INVESTMENT

LOAN DETAILS

25%

$937

4.67

$12,657

$269,900

$207.3

$183,621

$141.03

COMPS RANGE

PRICE COMPS ANALYSIS

$1,360

$1.04

$1,289

$0.99

Comps Range

RENT COMPS ANALYSIS

PROPERTY LISTING DETAILS