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6508 Bunker Hill Drive Raleigh, NC 27610

3 Beds 3 Baths 1,605 sqft Built 2021

$298,018

List Price

$1,350

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
February 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $185.68
  • 4 Days on Market
  • MLS # : 2366213
  • Updated Date : 02/11/2021 at 15:35
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,605 sqft
  • Baths : 2 full , 1 half
Listing Agent

Coldwell Banker Advantage

Listing Agent's Description

McKee Homes presents The Joyner 3 bed, 2.5 bath floor plan designed for open living. As you enter the home from the covered front porch, you experience the open living space with large family and dining rooms ready for family fun and entertaining. The thoughtfully laid-out kitchen has everything you need with plenty of cabinet space, bar top with seating and an ample panty with wrap-around shelves.

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: Johns Pointe

NeighborhoodNIR Market*CityMarket2010Year20002019140k150k160k170k180k190k200k210k220k230k240k250k260k270kPrice in $132k277k

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

Neighborhood: Johns Pointe

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
Barwell Road Elementary School Primary Regular 798 57 3
East Garner Middle School Middle Magnet 1,361 83 4
South Garner High School High Regular NA

Barwell Road Elementary School

  • Education Level: Primary
  • # of students: 798
  • # of teachers: 57
3
GreatSchools Rating

East Garner Middle School

  • Education Level: Middle
  • # of students: 1,361
  • # of teachers: 83
4
GreatSchools Rating

South Garner High School

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

$268,216$327,820$298,018

PURCHASE PRICE

$1,215$1,485$1,350

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,350
EXPENSES Loan Payment -$1,035
Property Tax -$220
Property Insurance -$59
HOA -$25
Property Management Fees -$119
CASH FLOW
-$108

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$298,018

PROJECTED PRICE

$1,350

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.0%
Maintenance Year (1-5) 3.00%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$80,975

INVESTMENT

$80,975

Down Payment
$74,505
Rehab Estimate
$2,000
Closing Costs
$4,470

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,035

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $74,505
Loan Amount $223,514
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$10,190

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,350

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,368

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,4003$1,4254$1,4955$1,555
$1,555
RENT COMPS ANALYSIS
  • 6508 Bunker Hill Drive Raleigh, NC 1
    • 3 beds 3 baths ∙ 1,605 Sqft ∙ Built 2021 3 beds 3 baths ∙ 1,605 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.84
    •  
  • 6049 Ladish Lane Raleigh, NC 2
    • 3 beds 3 baths ∙ 1,709 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,709 Sqft ∙ Built 2005
    LEASED 03/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.82
    •  
  • 3619 Cannold Court Raleigh, NC 3
    • 4 beds 3 baths ∙ 1,702 Sqft ∙ Built 2004 4 beds 3 baths ∙ 1,702 Sqft ∙ Built 2004
    LEASED 12/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $0.84
    •  
  • 3453 Kernstown Drive Raleigh, NC 4
    • 4 beds 3 baths ∙ 1,700 Sqft ∙ Built 2016 4 beds 3 baths ∙ 1,700 Sqft ∙ Built 2016
    LEASED 06/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.88
    •  
  • 3836 Pine Barren Lane Raleigh, NC 5
    • 3 beds 3 baths ∙ 1,787 Sqft ∙ Built 2010 3 beds 3 baths ∙ 1,787 Sqft ∙ Built 2010
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,555
    • $0.87
    •  
PROPERTY LISTING DETAILS
Patrick Mckee
1.919.344.0906
Coldwell Banker Advantage
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2366213
Last Updated: 02/11/2021
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