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6604 Frogstool Lane Raleigh, NC 27610

3 Beds 3 Baths 1,404 sqft Built 2007

$213,000

List Price

$1,230

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 17, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $151.71
  • 6 Days on Market
  • MLS # : 2367189
  • Updated Date : 02/19/2021 at 18:03
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,404 sqft
  • Baths : 2 full , 1 half
Listing Agent

Peterson Real Estate Properties

Listing Agent's Description

Look no further! Your search for the perfect home ends at 6604 Frogstool! This well maintained 3 bedroom, 2.5 bath, two-story beauty located at the end of a cul-de-sac. Home is bright & roomy, home features a large living room, dining room and nice size bedrooms. Master bedroom features tray ceilings and separate tub/shower. Short distance to schools, shopping, & highways. Your new home awaits; schedule your private tour today!

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: Griffis Glen

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $117k277k

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

Neighborhood: Griffis Glen

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q29501000105011001150120012501300135014001450150015501600Rent in $9291630

* 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
 

$191,700$234,300$213,000

PURCHASE PRICE

$1,107$1,353$1,230

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,230
EXPENSES Loan Payment -$740
Property Tax -$157
Property Insurance -$55
HOA -$20
Property Management Fees -$119
CASH FLOW
$140

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.

$213,000

PROJECTED PRICE

$1,230

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 5.5%
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$62,195

INVESTMENT

$62,195

Down Payment
$53,250
Rehab Estimate
$5,750
Closing Costs
$3,195

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$740

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $53,250
Loan Amount $159,750
See What Happens When You Reinvest Cash Flow

9.08

YEARS SAVED

$26,189

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,230

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,267

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,230
1$1,2302$1,3903$1,4004$1,4955$1,500
$1,500
RENT COMPS ANALYSIS
  • 6604 Frogstool Lane Raleigh, NC 1
    • 3 beds 3 baths ∙ 1,404 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,404 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $1,230
    • $0.88
    •  
  • 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
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,390
    • $0.89
    •  
  • 4116 Mackinac Island Lane Raleigh, NC 3
    • 3 beds 3 baths ∙ 1,482 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,482 Sqft ∙ Built 1999
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.94
    •  
  • 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
    •  
  • 7130 Orchard Knob Drive Raleigh, NC 5
    • 3 beds 2 baths ∙ 1,675 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,675 Sqft ∙ Built 2005
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.90
    •  
PROPERTY LISTING DETAILS
Nikeica Peterson
1.919.539.6965
Peterson Real Estate Properties
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2367189
Last Updated: 02/19/2021
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