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6516 Brookhollow Drive Raleigh, NC 27615

4 Beds 3 Baths 1,901 sqft Built 1968

$300,000

List Price

$1,790

$1.6K - $2K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1968
  • Price/Sqft : $157.81
  • 3 Days on Market
  • MLS # : 2356525
  • Updated Date : 12/05/2020 at 11:50
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,901 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty United

Listing Agent's Description

Be 2nd owners of this charming tudor splitlevel on large lot in popular North Haven. Smart layout provides access to living room, kitchen, upstairs, or downstairs all from entrance hall. Spread out in 3 upstairs bedrooms and 1 downstairs next to large den with fireplace. Enjoy lovely screen backed porch with ceiling fan. One outbuilding boasts 2 offices; another provides ample room for storage. Move in right away or expand kitchen into dining room first! BETTER/MORE PICS SOON!

SEE MORE

MARKET HIGHLIGHTS

  • Major employers in Raleigh area: IBM, Cisco systems, Fidelity Investments, GlaxoSmithKline, RTI International
  • One of Top 10 cities for Small Business Friendliness (Thumbtack, 2018)
  • #7 Best Big City for Jobs 2018 (Forbes, 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: North Haven

NeighborhoodNIR Market*CityMarket2010Year20002019160k180k200k220k240k260k280k300k320k340kPrice in $153k359k

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

Neighborhood: North Haven

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q211001200130014001500160017001800Rent in $10181873

* 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
North Ridge Elementary School Primary Regular 765 50 6
West Millbrook Middle School Middle Regular 961 55 4
Sanderson High School High Regular 2,002 111 4

North Ridge Elementary School

  • Education Level: Primary
  • # of students: 765
  • # of teachers: 50
6
GreatSchools Rating

West Millbrook Middle School

  • Education Level: Middle
  • # of students: 961
  • # of teachers: 55
4
GreatSchools Rating

Sanderson High School

  • Education Level: High
  • # of students: 2,002
  • # of teachers: 111
4
GreatSchools Rating
 

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

PURCHASE PRICE

$1,611$1,969$1,790

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,790
EXPENSES Loan Payment -$1,107
Property Tax -$222
Property Insurance -$66
Property Management Fees -$119
CASH FLOW
$276

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.

$300,000

PROJECTED PRICE

$1,790

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.33%
Appreciation Year (1-5) 9.5%
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$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

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 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $75,000
Loan Amount $225,000
See What Happens When You Reinvest Cash Flow

11.08

YEARS SAVED

$57,552

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,790

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,759

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,5503$1,7904$2,0955$2,193
$2,193
RENT COMPS ANALYSIS
  • 6516 Brookhollow Drive Raleigh, NC 3
    • 4 beds 3 baths ∙ 1,976 Sqft ∙ Built 1968 4 beds 3 baths ∙ 1,976 Sqft ∙ Built 1968
    • Rent
    • Rent Per SQFT
    •  
    • $1,790
    • $0.91
    •  
  • 1415 Ivy Lane Raleigh, NC 1
    • 3 beds 2 baths ∙ 1,900 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,900 Sqft ∙ Built 1962
    LEASED 06/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.82
    •  
  • 1316 Greenside Drive Raleigh, NC 2
    • 3 beds 3 baths ∙ 1,758 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,758 Sqft ∙ Built 1986
    LEASED 06/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.88
    •  
  • 7508 Fiesta Way Raleigh, NC 4
    • 4 beds 3 baths ∙ 2,300 Sqft ∙ Built 1972 4 beds 3 baths ∙ 2,300 Sqft ∙ Built 1972
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.91
    •  
  • 7313 Fiesta Way Raleigh, NC 5
    • 4 beds 3 baths ∙ 2,300 Sqft ∙ Built 1972 4 beds 3 baths ∙ 2,300 Sqft ∙ Built 1972
    LEASED 07/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,193
    • $0.95
    •  
PROPERTY LISTING DETAILS
Matt Levy
1.214.207.7356
Keller Williams Realty United
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2356525
Last Updated: 12/05/2020
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