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8001 Boxer Place Wake Forest, NC 27587

3 Beds 2 Baths 1,050 sqft Built 1985

$217,000

List Price

$1,210

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

December 22, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $206.67
  • 8 Days on Market
  • MLS # : 2358835
  • Updated Date : 12/22/2020 at 01:53
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,050 sqft
  • Baths : 2 full
Listing Agent

Fonville Morisey/triangle Five County Specialists

Listing Agent's Description

Great Location for this 3 bedroom 2 bathroom ranch on a corner lot with a fenced yard. Nice sized attic great for storage, wood burning fireplace. Photos will be coming after the new year.

SEE MORE

MARKET HIGHLIGHTS

  • Major employers in Raleigh area: IBM, Cisco systems, Fidelity Investments, GlaxoSmithKline, RTI International
  • One of Top 10 cities for Small Business Friendliness (Thumbtack, 2018)
  • #7 Best Big City for Jobs 2018 (Forbes, 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: High Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $97k359k

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

Neighborhood: High Meadows

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q28009001000110012001300140015001600170018001900Rent in $7071937

* 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
Harris Creek Elementary School Primary Regular 1,025 67 4
Rolesville Middle School Middle Unknown 1,263 75 NA
Rolesville High School High Regular 1,200 69 NA

Harris Creek Elementary School

  • Education Level: Primary
  • # of students: 1,025
  • # of teachers: 67
4
GreatSchools Rating

Rolesville Middle School

  • Education Level: Middle
  • # of students: 1,263
  • # of teachers: 75
NA
GreatSchools Rating

Rolesville High School

  • Education Level: High
  • # of students: 1,200
  • # of teachers: 69
NA
GreatSchools Rating
 

$195,300$238,700$217,000

PURCHASE PRICE

$1,089$1,331$1,210

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,210
EXPENSES Loan Payment -$801
Property Tax -$171
Property Insurance -$48
HOA -$42
Property Management Fees -$119
CASH FLOW
$30

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 16% of earned rent to cover both maintenance and periods of vacancy.

$217,000

PROJECTED PRICE

$1,210

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.33%
Appreciation Year (1-5) 4.1%
Maintenance Year (1-5) 8.00%
Vacancy 7.51%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$63,255

INVESTMENT

$63,255

Down Payment
$54,250
Rehab Estimate
$5,750
Closing Costs
$3,255

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$801

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $54,250
Loan Amount $162,750
See What Happens When You Reinvest Cash Flow

7.17

YEARS SAVED

$21,673

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,210

    LIST RENT
  • $1.15

    LIST RENT PER SQFT
  • $977

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,210
1$1,2102$1,2503$1,2954$1,300
$1,300
RENT COMPS ANALYSIS
  • 8001 Boxer Place Wake Forest, NC 1
    • 3 beds 2 baths ∙ 1,050 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,050 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $1,210
    • $1.15
    •  
  • 7309 Perry Creek Road Raleigh, NC 2
    • 3 beds 2 baths ∙ 1,352 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,352 Sqft ∙ Built 1980
    LEASED 10/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.92
    •  
  • 7368 Berkshire Downs Drive Raleigh, NC 3
    • 3 beds 2 baths ∙ 1,384 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,384 Sqft ∙ Built 1984
    LEASED 07/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.94
    •  
  • 7500 Brighton Hill Lane Raleigh, NC 4
    • 3 beds 3 baths ∙ 1,399 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,399 Sqft ∙ Built 2001
    LEASED 04/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.93
    •  
PROPERTY LISTING DETAILS
Paddy Diamond
1.919.608.2585
Fonville Morisey/triangle Five County Specialists
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2358835
Last Updated: 12/22/2020
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