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704 November Lane Willow Spring(s), NC 27592

3 Beds 3 Baths 1,850 sqft Built 1995

$262,000

List Price

$1,490

$1.3K - $1.6K

Rent Est.

$75,180

Investment Est.

AVAILABLE

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AVAILABLE

1 Year
(+5.6%)
1 YR. PROJ. APPRECIATION


Cap Rate	4.1%
Cash Flow	$1,920
Value Increase	$15,074

10 YEAR

Cash On Cash	0.7%
Total Return	11.9%

PROPERTY INFO

YES TENANTED

November 18, 2020 RECENTLY ADDED

FACTS

Single Family
Built In 1995
Price/Sqft : $141.62
6 Days on Market
MLS # : 2354107
Updated Date : 11/19/2020 at 17:49

CONSTRUCTION

Beds : 3
Floor Size : 1,850 sqft
Baths : 2 full , 1 half

Listing Agent

Coldwell Banker Advantage

Listing Agent's Description

COMING SOON! This gorgeous and unique property on over an acre wooded lot in Autumn Woods features options galore. Rocking chair front porch, granite countertops, exposed brick in kitchen, crystal chandelier in dining room, spacious bedrooms, huge master bath w/ double sink vanity. Detached 2 car garage has a full apartment above with separate private entrance, renovated in Jan. 2020. Apartment tenant in place with M2M lease. Garage workshop features built in shelves/cabinets, sink & toilet.

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)

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)

Neighborhood: Autumn Woods

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

Neighborhood: Autumn Woods

* 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
Dixon Road Elementary School	Primary	Regular	551	34	7
Mcgee's Crossroads Middle School	Middle	Regular	895	49	4
West Johnston High School	High	Regular	1,359	83	5

Dixon Road Elementary School

Education Level: Primary
# of students: 551
# of teachers: 34

GreatSchools Rating

Mcgee's Crossroads Middle School

Education Level: Middle
# of students: 895
# of teachers: 49

GreatSchools Rating

West Johnston High School

Education Level: High
# of students: 1,359
# of teachers: 83

GreatSchools Rating

FINANCIALS

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$235,800$288,20000$262,000

PURCHASE PRICE

$1,341$1,63900$1,490

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	$1,490
EXPENSES	Loan Payment	-$967
	Property Tax	-$166
	Property Insurance	-$63
	Property Management Fees	-$134




CASH FLOW $160

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.

$262,000

PROJECTED PRICE

$1,490

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS
Expense Inflation	2.50%
Rental Growth Year (1-5)	3.78%
Appreciation Year (1-5)	5.6%
Maintenance Year (1-5)	8.00%
Vacancy	7.49%
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

$75,180

Down Payment	$65,500
Rehab Estimate	$5,750
Closing Costs	$3,930

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$967

MONTHLY LOAN PAYMENT

30 yr

4.25%

25.00%

Down Payment

Term	30 Years
Interest	4.25%
Down Payment	$65,500
Loan Amount	$196,500

See What Happens When You Reinvest Cash Flow

8.08

YEARS SAVED

$32,854

INTEREST SAVED

CASH FLOW REINVESTMENT

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

$1,490
LIST RENT
$0.81
LIST RENT PER SQFT

$1,508
COMP ESTIMATED VALUE
$0.82
COMP AVG. RENT PER SQFT

Comps Range

$1,490

1$1,4902$1,6503$1,800

$1,800

RENT COMPS ANALYSIS

1,850
PROPERTY SQFT
$0.82
AVG RENT PER SQFT
$1,508
ESTIMATED VALUE
$1,490
LIST RENT

704 November Lane Willow Spring(s), NC 4

3 beds 3 baths ∙ 1,850 Sqft ∙ Built 1995 3 beds 3 baths ∙ 1,850 Sqft ∙ Built 1995
Price

Price Per SQFT

$262,000

$141.62
88 Chickadee Court Willow Spring(s), NC 1

3 beds 2 baths ∙ 1,915 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,915 Sqft ∙ Built 2004
SOLD 07/31/20
Price

Price Per SQFT

$217,900

$113.79
109 Raspberry Court Willow Spring(s), NC 2

3 beds 3 baths ∙ 1,835 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,835 Sqft ∙ Built 2000
SOLD 07/06/20
Price

Price Per SQFT

$225,000

$122.62
1492 Mount Pleasant Road Willow Spring(s), NC 3

3 beds 2 baths ∙ 1,742 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,742 Sqft ∙ Built 1992
SOLD 10/14/20
Price

Price Per SQFT

$225,000

$129.16
102 Ina Joe Place Willow Spring(s), NC 5

3 beds 2 baths ∙ 1,875 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,875 Sqft ∙ Built 2006
SOLD 10/02/20
Price

Price Per SQFT

$265,000

$141.33

704 November Lane Willow Spring(s), NC 1

3 beds 3 baths ∙ 1,850 Sqft ∙ Built 1995 3 beds 3 baths ∙ 1,850 Sqft ∙ Built 1995
Rent

Rent Per SQFT

$1,490

$0.81
218 Susan Drive Garner, NC 2

4 beds 3 baths ∙ 2,079 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,079 Sqft ∙ Built 2000
LEASED 08/01/20
Rent

Rent Per SQFT

$1,650

$0.79
30 Natalie Drive Raleigh, NC 3

3 beds 3 baths ∙ 2,144 Sqft ∙ Built 2000 3 beds 3 baths ∙ 2,144 Sqft ∙ Built 2000
LEASED 06/19/20
Rent

Rent Per SQFT

$1,800

$0.84

PROPERTY LISTING DETAILS

Julie Toy
1.919.600.4751
Coldwell Banker Advantage

Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317

Triangle Multiple Listing Service ( TMLS)
MLS #: 2354107
Last Updated: 11/19/2020

704 November Lane Willow Spring(s), NC 27592

$262,000

$1,490

$75,180

REQUEST INFO

PROPERTY INFO

FACTS

CONSTRUCTION

Listing Agent

Listing Agent's Description

MARKET HIGHLIGHTS

PRICE & RENT TRENDS

SCHOOLS

Dixon Road Elementary School

Mcgee's Crossroads Middle School

West Johnston High School

FINANCIALS

$235,800$288,20000$262,000

$1,341$1,63900$1,490

Acquisition Concierge

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

$262,000

$1,490

0.57%

PROJECTED ACCUMULATED WEALTH

PROJECTED ANNUAL CASH FLOW

PROJECTED PROPERTY VALUE

TOTAL CASH OUT OF POCKET

INVESTMENT

LOAN DETAILS

25%

$967

8.08

$32,854

$262,000

$141.62

$234,441

$126.73

COMPS RANGE

PRICE COMPS ANALYSIS

$1,490

$0.81

$1,508

$0.82

Comps Range

RENT COMPS ANALYSIS

PROPERTY LISTING DETAILS