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6586 Guard Hill Drive Raleigh, NC 27610

3 Beds 3 Baths 1,657 sqft Built 2007

$214,789

List Price

$1,270

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $129.63
  • 4 Days on Market
  • MLS # : 2367586
  • Updated Date : 02/20/2021 at 19:09
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,657 sqft
  • Baths : 2 full , 1 half
Listing Agent

Millennial Real Estate Group

Listing Agent's Description

Lovingly maintained 3bd 2.5 bath home in convenient Battle Ridge North. Move in Ready, don't miss this one!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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
  • #7 Best Big City for Jobs 2018 (Forbes, 2018)
  • Major employers in Raleigh area: IBM, Cisco systems, Fidelity Investments, GlaxoSmithKline, RTI International

PRICE & RENT TRENDS

Neighborhood: Battleridge North at Chastain

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260kPrice in $129k277k

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

Neighborhood: Battleridge North at Chastain

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 Unknown 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
 

$193,310$236,268$214,789

PURCHASE PRICE

$1,143$1,397$1,270

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,270
EXPENSES Loan Payment -$746
Property Tax -$178
Property Insurance -$60
HOA -$13
Property Management Fees -$119
CASH FLOW
$155

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$214,789

PROJECTED PRICE

$1,270

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 4.7%
Maintenance Year (1-5) 8.00%
Vacancy 7.49%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$62,669

INVESTMENT

$62,669

Down Payment
$53,697
Rehab Estimate
$5,750
Closing Costs
$3,222

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$746

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $53,697
Loan Amount $161,092
See What Happens When You Reinvest Cash Flow

9.33

YEARS SAVED

$27,449

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,270

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $1,421

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,270
1$1,2702$1,3903$1,4004$1,4255$1,495
$1,495
RENT COMPS ANALYSIS
  • 6586 Guard Hill Drive Raleigh, NC 1
    • 3 beds 3 baths ∙ 1,657 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,657 Sqft ∙ Built 2007
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,270
    • $0.77
    •  
  • 7128 Missionary Ridge Drive Raleigh, NC 2
    • 3 beds 3 baths ∙ 1,555 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,555 Sqft ∙ Built 1999
    property image
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,390
    • $0.89
    •  
  • 6049 Ladish Lane Raleigh, NC 3
    • 3 beds 3 baths ∙ 1,709 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,709 Sqft ∙ Built 2005
    property image
    LEASED 03/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.82
    •  
  • 3619 Cannold Court Raleigh, NC 4
    • 4 beds 3 baths ∙ 1,702 Sqft ∙ Built 2004 4 beds 3 baths ∙ 1,702 Sqft ∙ Built 2004
    property image
    LEASED 12/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $0.84
    •  
  • 3453 Kernstown Drive Raleigh, NC 5
    • 4 beds 3 baths ∙ 1,700 Sqft ∙ Built 2016 4 beds 3 baths ∙ 1,700 Sqft ∙ Built 2016
    property image
    LEASED 06/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.88
    •  
PROPERTY LISTING DETAILS
Erika Hudson
1.919.414.1996
Millennial Real Estate Group
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2367586
Last Updated: 02/20/2021
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