Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more
REQUEST INFO
SCHEDULE APPOINTMENT
It's free, with no obligation
PROPERTY INFO
FACTS
- Single Family
- Built In 1996
- Price/Sqft : $197.63
- 4 Days on Market
- MLS # : 2357220
- Updated Date : 12/10/2020 at 19:32
CONSTRUCTION
- Beds : 3
- Floor Size : 1,391 sqft
- Baths : 2 full
Listing Agent
Grand Slam Realty
Listing Agent's Description
BEAUTIFUL. Open Floor plan. 2 car garage. 8 Addison Ct. is a must see!!! The home is located in Vantage Point which includes pool house amenities. This home has been painted inside and out, new flooring throughout, 2020 Roof with architectural shingles, new fixtures and new appliances. Very cozy fireplace is the centerpiece of the living room. Very quiet place at the end of the culdesac. You don't want to miss out on the newly remodeled home in Vantage Point. Minutes away from anything you would need!
SEE MORE
- 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)
- 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: Vantage Pointe
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Vantage Pointe
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,400 |
| EXPENSES | Loan Payment | -$1,014 |
| Property Tax | -$238 | |
| Property Insurance | -$54 | |
| HOA | -$30 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
-$55
|
||
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.
$274,900
PROJECTED PRICE
$1,400
PROJECTED RENT
0.51%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.11% |
| Appreciation Year (1-5) | 7.3% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 8.54% |
| 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
$78,599
LOAN DETAILS
$1,014
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $68,725 |
| Loan Amount | $206,175 |
4.67
YEARS SAVED
$15,208
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,400
LIST RENT -
$1.01
LIST RENT PER SQFT
-
$1,408
COMP ESTIMATED VALUE -
$1.01
COMP AVG. RENT PER SQFT
Comps Range
-
8 Addison Court Durham, NC 1
- 3 beds 2 baths ∙ 1,391 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,391 Sqft ∙ Built 1996
- Rent
- Rent Per SQFT
- $1,400
- $1.01
-
511 Felicia Street Durham, NC 2
- 3 beds 3 baths ∙ 1,540 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,540 Sqft ∙ Built 2007
LEASED 08/17/20- Rent
- Rent Per SQFT
- $1,495
- $0.97
-
5610 Paces Ferry Drive Durham, NC 3
- 3 beds 3 baths ∙ 1,591 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,591 Sqft ∙ Built 2001
LEASED 02/01/20- Rent
- Rent Per SQFT
- $1,550
- $0.97
-
20 Garden Hills Court Durham, NC 4
- 3 beds 3 baths ∙ 1,566 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,566 Sqft ∙ Built 2002
LEASED 08/12/19- Rent
- Rent Per SQFT
- $1,595
- $1.02
-
4112 Lazyriver Lane Durham, NC 5
- 3 beds 3 baths ∙ 1,464 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,464 Sqft ∙ Built 1988
LEASED 03/28/20- Rent
- Rent Per SQFT
- $1,600
- $1.09
PROPERTY LISTING DETAILS
1.919.695.1038
Grand Slam Realty
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
MLS #: 2357220
Last Updated: 12/10/2020
