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PROPERTY INFO
FACTS
- Single Family
- Built In 1989
- Price/Sqft : $148.59
- 5 Days on Market
- MLS # : 2360267
- Updated Date : 01/08/2021 at 15:59
CONSTRUCTION
- Beds : 3
- Floor Size : 1,945 sqft
- Baths : 2 full , 1 half
Listing Agent
Keller Williams Preferred Realty
Listing Agent's Description
Beautifully updated home in premier North Ridge area. Large rooms and high ceilings create very spacious feeling you will love. Large kitchen w SS appliances and granite countertops is a chef's delight. Huge family room with enchanting wood burning fireplace. Dining room perfect for more formal occasions or create your own office/flex space. Owners suite with cathedral ceiling, large closet, and beautiful tile shower. Great deck for outdoor living! New exterior paint, new carpet, tasteful interior design.
SEE MORE
- Major employers in Raleigh area: IBM, Cisco systems, Fidelity Investments, GlaxoSmithKline, RTI International
- 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)
- #7 Best Big City for Jobs 2018 (Forbes, 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: Woods of North Ridge
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Woods of North Ridge
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,670 |
| EXPENSES | Loan Payment | -$1,004 |
| Property Tax | -$220 | |
| Property Insurance | -$65 | |
| HOA | -$18 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$244
|
||
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.
$289,000
PROJECTED PRICE
$1,670
PROJECTED RENT
0.58%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.78% |
| Appreciation Year (1-5) | 4.2% |
| 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
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$82,335
LOAN DETAILS
$1,004
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $72,250 |
| Loan Amount | $216,750 |
9.92
YEARS SAVED
$41,376
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,670
LIST RENT -
$0.86
LIST RENT PER SQFT
-
$1,716
COMP ESTIMATED VALUE -
$0.88
COMP AVG. RENT PER SQFT
Comps Range
-
7320 Massachuetts Court Raleigh, NC 2
- 3 beds 3 baths ∙ 1,945 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,945 Sqft ∙ Built 1989
![property image]()
- Rent
- Rent Per SQFT
- $1,670
- $0.86
-
7713 Harps Mill Woods Run Raleigh, NC 1
- 4 beds 3 baths ∙ 2,000 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,000 Sqft ∙ Built 1997
![property image]()
LEASED 12/22/19- Rent
- Rent Per SQFT
- $1,600
- $0.80
-
8722 Harps Mill Road Raleigh, NC 3
- 4 beds 2 baths ∙ 2,280 Sqft ∙ Built 1995 4 beds 2 baths ∙ 2,280 Sqft ∙ Built 1995
![property image]()
LEASED 04/22/20- Rent
- Rent Per SQFT
- $1,900
- $0.83
-
7400 Dorrington Trail Raleigh, NC 4
- 3 beds 3 baths ∙ 1,920 Sqft ∙ Built 1996 3 beds 3 baths ∙ 1,920 Sqft ∙ Built 1996
![property image]()
LEASED 09/01/20- Rent
- Rent Per SQFT
- $1,900
- $0.99
-
7700 Harps Mill Road Raleigh, NC 5
- 3 beds 3 baths ∙ 2,187 Sqft ∙ Built 1970 3 beds 3 baths ∙ 2,187 Sqft ∙ Built 1970
![property image]()
LEASED 12/15/20- Rent
- Rent Per SQFT
- $1,995
- $0.91
PROPERTY LISTING DETAILS
1.919.348.1558
Keller Williams Preferred Realty
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
MLS #: 2360267
Last Updated: 01/08/2021
