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76 Bell Circle #A & B Chapel Hill, NC 27516

4 Beds 2 Baths 1,990 sqft Built 1990 2 Units

$325,000

List Price

$1,900

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
2 Units MULTIFAMILY
YES TENANTED
FACTS
  • Multi Family Home
  • Built In 1990
  • Price/Sqft : $163.32
  • 9 Days on Market
  • MLS # : 2365511
  • Updated Date : 02/07/2021 at 00:05
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,990 sqft
  • Baths : 2 full
Listing Agent

Re/max United

Listing Agent's Description

GREAT investment opportunity well maintained duplex just minutes from UNC campus and medical center where student, resident and intern housing is high in demand! Private and serene natural setting close to dining, shopping and campus. New roof in 2018, new AC units in 2017, each unit has a nice deck and storage room. Interior consists of open and spacious living room, kitchen, two bedrooms and bath. The bedrooms are large with excellent closet space.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Woodbrige

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $73k388k

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

Neighborhood: Woodbrige

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q280090010001100120013001400150016001700180019002000Rent in $7402092

* 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
Perry W. Harrison Elementary School Primary Regular 615 35 5
Northwood High School High Regular 1,284 75 5
Northwood High School High Unknown NA

Perry W. Harrison Elementary School

  • Education Level: Primary
  • # of students: 615
  • # of teachers: 35
5
GreatSchools Rating

Northwood High School

  • Education Level: High
  • # of students: 1,284
  • # of teachers: 75
5
GreatSchools Rating

Northwood High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$292,500$357,500$325,000

PURCHASE PRICE

$1,710$2,090$1,900

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,900
EXPENSES Loan Payment -$1,129
Property Tax -$106
Property Insurance -$65
HOA -$120
Property Management Fees -$238
CASH FLOW
$241

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.

$325,000

PROJECTED PRICE

$1,900

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.42%
Appreciation Year (1-5) 3.0%
Maintenance Year (1-5) 8.00%
Vacancy 8.51%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$103,375

INVESTMENT

$103,375

Down Payment
$81,250
Rehab Estimate
$17,250
Closing Costs
$4,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,129

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $81,250
Loan Amount $243,750
See What Happens When You Reinvest Cash Flow

9

YEARS SAVED

$39,750

INTEREST SAVED

CASH FLOW REINVESTMENT

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

Solutions Manager

YOUR SOLUTIONS MANAGER

Please Contact Your Solutions Manager

To review the detailed price and rent comps for this property and answer any questions you may have.

PROPERTY LISTING DETAILS
Alexandra Sokol
1.919.616.2719
Re/max United
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2365511
Last Updated: 02/07/2021
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