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715 Glade Aster Drive Durham, NC 27704

4 Beds 3 Baths 1,958 sqft Built 2008

$260,000

List Price

$1,500

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2008
  • Price/Sqft : $132.79
  • 2 Days on Market
  • MLS # : 2356595
  • Updated Date : 12/06/2020 at 04:10
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,958 sqft
  • Baths : 3 full
Listing Agent

Real Estate By Design

Listing Agent's Description

Hard to find 3 bedroom ranch with bedroom or bonus up. 3 full bath. Amazing screened in porch and deck. Private yard. Quiet cul-de-sac street. Open and airy floor plan with vaulted ceilings. Master suite offers luxurious bath with dual vanity, garden tub and separate shower. Generous size secondary bedrooms. Fresh paint and new flooring. All appliances convey. 1 year home warranty included. HVAC only 3 years old. Ready to move into.

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: Northeast Durham

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260kPrice in $61k274k

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

Neighborhood: Northeast Durham

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2800900100011001200130014001500Rent in $7261518

* 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
Glenn Elementary School Primary Regular 644 46 1
Lucas Middle School Middle Regular 658 43 2
Northern High School High Regular 1,448 83 3

Glenn Elementary School

  • Education Level: Primary
  • # of students: 644
  • # of teachers: 46
1
GreatSchools Rating

Lucas Middle School

  • Education Level: Middle
  • # of students: 658
  • # of teachers: 43
2
GreatSchools Rating

Northern High School

  • Education Level: High
  • # of students: 1,448
  • # of teachers: 83
3
GreatSchools Rating
 

$234,000$286,000$260,000

PURCHASE PRICE

$1,350$1,650$1,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,500
EXPENSES Loan Payment -$959
Property Tax -$225
Property Insurance -$65
HOA -$23
Property Management Fees -$119
CASH FLOW
$109

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$260,000

PROJECTED PRICE

$1,500

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.28%
Appreciation Year (1-5) 6.0%
Maintenance Year (1-5) 8.00%
Vacancy 8.55%
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$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,650

INVESTMENT

$74,650

Down Payment
$65,000
Rehab Estimate
$5,750
Closing Costs
$3,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$959

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $65,000
Loan Amount $195,000
See What Happens When You Reinvest Cash Flow

7.92

YEARS SAVED

$31,350

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,500

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $1,630

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,5003$1,5254$1,5955$1,850
$1,850
RENT COMPS ANALYSIS
  • 715 Glade Aster Drive Durham, NC 2
    • 4 beds 3 baths ∙ 1,958 Sqft ∙ Built 2008 4 beds 3 baths ∙ 1,958 Sqft ∙ Built 2008
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.77
    •  
  • 1405 Glenbrittle Drive Durham, NC 1
    • 4 beds 3 baths ∙ 1,709 Sqft ∙ Built 2017 4 beds 3 baths ∙ 1,709 Sqft ∙ Built 2017
    property image
    LEASED 07/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.85
    •  
  • 1027 Sweet Gale Drive Durham, NC 3
    • 3 beds 3 baths ∙ 1,981 Sqft ∙ Built 2011 3 beds 3 baths ∙ 1,981 Sqft ∙ Built 2011
    property image
    LEASED 08/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.77
    •  
  • 4320 Chimney Stone Road Durham, NC 4
    • 3 beds 3 baths ∙ 1,800 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,800 Sqft ∙ Built 2004
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.89
    •  
  • 1119 Old Evergreen Drive Durham, NC 5
    • 5 beds 3 baths ∙ 2,250 Sqft ∙ Built 2019 5 beds 3 baths ∙ 2,250 Sqft ∙ Built 2019
    property image
    LEASED 11/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.82
    •  
PROPERTY LISTING DETAILS
Ganna Fisher
1.919.824.7816
Real Estate By Design
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2356595
Last Updated: 12/06/2020
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