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7401 Perry Creek Road Raleigh, NC 27616

3 Beds 2 Baths 1,312 sqft Built 1970

$199,900

List Price

$1,290

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

January 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1970
  • Price/Sqft : $152.36
  • 8 Days on Market
  • MLS # : 2360938
  • Updated Date : 01/17/2021 at 04:54
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,312 sqft
  • Baths : 2 full
Listing Agent

Best Investment Realty

Listing Agent's Description

Investor alert, great one for rehab, in great location, Rah house with 2 car garages, fenced in backyard, hardwood floors and the roof was replaced in 2013, the house being sold as is.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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: Bentley Woods

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $94k277k

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

Neighborhood: Bentley Woods

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q27008009001000110012001300140015001600Rent in $6991630

* 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
Fox Road Elementary School Primary Regular 706 53 4
Wake Forest Middle School Middle Regular 1,021 60 4
Wakefield High School High Regular 2,387 132 5

Fox Road Elementary School

  • Education Level: Primary
  • # of students: 706
  • # of teachers: 53
4
GreatSchools Rating

Wake Forest Middle School

  • Education Level: Middle
  • # of students: 1,021
  • # of teachers: 60
4
GreatSchools Rating

Wakefield High School

  • Education Level: High
  • # of students: 2,387
  • # of teachers: 132
5
GreatSchools Rating
 

$179,910$219,890$199,900

PURCHASE PRICE

$1,161$1,419$1,290

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,290
EXPENSES Loan Payment -$694
Property Tax -$163
Property Insurance -$53
Property Management Fees -$119
CASH FLOW
$261

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.

$199,900

PROJECTED PRICE

$1,290

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 5.7%
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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$58,724

INVESTMENT

$58,724

Down Payment
$49,975
Rehab Estimate
$5,750
Closing Costs
$2,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 25% down payment or higher enables the proceeds from the asset to cover all costs.

$694

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $49,975
Loan Amount $149,925
See What Happens When You Reinvest Cash Flow

12.08

YEARS SAVED

$37,526

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,290

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $1,214

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,2903$1,375
$1,375
RENT COMPS ANALYSIS
  • 7401 Perry Creek Road Raleigh, NC 2
    • 3 beds 2 baths ∙ 1,312 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,312 Sqft ∙ Built 1970
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,290
    • $0.98
    •  
  • 7309 Perry Creek Road Raleigh, NC 1
    • 3 beds 2 baths ∙ 1,352 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,352 Sqft ∙ Built 1980
    property image
    LEASED 10/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.92
    •  
  • 3516 Casine Court Wake Forest, NC 3
    • 3 beds 3 baths ∙ 1,485 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,485 Sqft ∙ Built 1985
    property image
    LEASED 04/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.93
    •  
PROPERTY LISTING DETAILS
Rod Al Haddad
1.919.931.7475
Best Investment Realty
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2360938
Last Updated: 01/17/2021
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