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PROPERTY INFO
FACTS
- Single Family
- Built In 1985
- Price/Sqft : $135.87
- 2 Days on Market
- MLS # : 2353685
- Updated Date : 11/14/2020 at 15:18
CONSTRUCTION
- Beds : 3
- Floor Size : 1,472 sqft
- Baths : 2 full , 1 half
Listing Agent
Dash Carolina
Listing Agent's Description
Quaint 3 bedroom, 2.5 bathroom Raleigh home on a cul-de-sac! Enter from the covered front porch and awe over the spacious living areas, including a bright sunroom, formal dining room, and large living room with gorgeous fireplace. Crown molding and chair railing create a sense of sophistication in the home. Prepare meals in your spacious eat-in kitchen Large fenced-in backyard. Great neighborhood with pool and tennis court. Prime location steps from I-540, US-1/Capital Blvd, and WRAL Soccer Park!
SEE MORE
- 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
- One of Top 10 cities for Small Business Friendliness (Thumbtack, 2018)
PRICE & RENT TRENDS
Neighborhood: Smoketree
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Smoketree
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,350 |
| EXPENSES | Loan Payment | -$738 |
| Property Tax | -$174 | |
| Property Insurance | -$56 | |
| HOA | -$60 | |
| Property Management Fees | -$122 | |
|
CASH FLOW
$201
|
||
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.
$200,000
PROJECTED PRICE
$1,350
PROJECTED RENT
0.68%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.76% |
| Appreciation Year (1-5) | 6.5% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 7.47% |
| 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
$58,750
LOAN DETAILS
$738
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $50,000 |
| Loan Amount | $150,000 |
9.5
YEARS SAVED
$31,492
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,350
LIST RENT -
$0.92
LIST RENT PER SQFT
-
$1,340
COMP ESTIMATED VALUE -
$0.91
COMP AVG. RENT PER SQFT
Comps Range
-
7408 N Thorncliff Place Raleigh, NC 3
- 3 beds 3 baths ∙ 1,472 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,472 Sqft ∙ Built 1985
- Rent
- Rent Per SQFT
- $1,350
- $0.92
-
7026 Jeffreys Creek Lane Raleigh, NC 1
- 3 beds 3 baths ∙ 1,405 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,405 Sqft ∙ Built 1999
LEASED 08/09/19- Rent
- Rent Per SQFT
- $1,295
- $0.92
-
7049 Jeffreys Creek Lane Raleigh, NC 2
- 3 beds 3 baths ∙ 1,488 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,488 Sqft ∙ Built 2001
LEASED 10/10/19- Rent
- Rent Per SQFT
- $1,325
- $0.89
-
5409 Neuse Planters Court Raleigh, NC 4
- 3 beds 3 baths ∙ 1,642 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,642 Sqft ∙ Built 2002
LEASED 06/14/19- Rent
- Rent Per SQFT
- $1,475
- $0.90
-
4900 Jacqueline Lane Raleigh, NC 5
- 3 beds 3 baths ∙ 1,583 Sqft ∙ Built 1995 3 beds 3 baths ∙ 1,583 Sqft ∙ Built 1995
LEASED 12/01/19- Rent
- Rent Per SQFT
- $1,480
- $0.93
PROPERTY LISTING DETAILS
1.919.295.0466
Dash Carolina
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
MLS #: 2353685
Last Updated: 11/14/2020
