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8025 Mourning Dove Road Raleigh, NC 27615

3 Beds 2 Baths 1,509 sqft Built 1987

$265,000

List Price

$1,460

$1.3K - $1.6K

Rent Est.

$75,975

Investment Est.

AVAILABLE

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AVAILABLE

1 Year
(+4.6%)
1 YR. PROJ. APPRECIATION


Cap Rate	4.0%
Cash Flow	$1,344
Value Increase	$12,563

10 YEAR

Cash On Cash	0.8%
Total Return	11.0%

PROPERTY INFO

December 12, 2020 RECENTLY ADDED

FACTS

Single Family
Built In 1987
Price/Sqft : $175.61
3 Days on Market
MLS # : 2357576
Updated Date : 12/12/2020 at 01:14

CONSTRUCTION

Beds : 3
Floor Size : 1,509 sqft
Baths : 2 full

Listing Agent

Century 21 Triangle Group

Listing Agent's Description

This is it! Finally, everything wrapped into one perfect listing just in time for the Holidays. This Cape Cod layout features 3 bedrooms, and an adorable loft with custom built-ins that will double as the perfect home office. This sweet home sits on a 1/3 of an acre lot so plenty of room to play outside and lots of local spots to walk to, including Greenway access. 2010 Roof - Sellers have done exterior paint, replaced appliances, and maintained this property with much pride. Stop shopping - you found it!

8023 Mourning Dove Rd

Raleigh, North Carolina

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MARKET HIGHLIGHTS

Raleigh Market Report

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)

Neighborhood: Crown Oaks

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

Neighborhood: Crown Oaks

* 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
North Ridge Elementary School	Primary	Regular	765	50	6
West Millbrook Middle School	Middle	Regular	961	55	4
Sanderson High School	High	Regular	2,002	111	4

North Ridge Elementary School

Education Level: Primary
# of students: 765
# of teachers: 50

GreatSchools Rating

West Millbrook Middle School

Education Level: Middle
# of students: 961
# of teachers: 55

GreatSchools Rating

Sanderson High School

Education Level: High
# of students: 2,002
# of teachers: 111

GreatSchools Rating

FINANCIALS

Learn how to read this

$238,500$291,50000$265,000

PURCHASE PRICE

$1,314$1,60600$1,460

RENT

DOWN PAYMENT

FINANCING

OFF ON

Acquisition Concierge

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PROPERTY

Expense Inflation	%
Vacancy	%
Length of Stay
Expense Inflation	%
Vacancy	%
Length of Stay

YEAR (1-5)

Appreciation	%
Rental Growth	%
Maintenance	%

YEAR (1-5)

Appreciation	%
Rental Growth	%
Maintenance	%

YEAR (6+)

Appreciation	%
Rental Growth	%
Maintenance	%

INVESTMENT

Rehab Costs
Reinvest Cash Flow	Yes No
Interest Rate	%

INVESTMENT

Rehab Costs
Reinvest Cash Flow	Yes No
Interest Rate	%

Learn how to read this

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME	Rent	$1,460
EXPENSES	Loan Payment	-$978
	Property Tax	-$195
	Property Insurance	-$57
	Property Management Fees	-$119




CASH FLOW $112

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.

$265,000

PROJECTED PRICE

$1,460

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS
Expense Inflation	2.50%
Rental Growth Year (1-5)	4.33%
Appreciation Year (1-5)	4.6%
Maintenance Year (1-5)	8.00%
Vacancy	7.51%
Length of Stay Years	2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

Cash Flow
Appreciation
Principal

PROJECTED ANNUAL CASH FLOW

Tenant Turnover

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

Appreciation
Principal
Loan Balance

TOTAL CASH OUT OF POCKET

INVESTMENT

$75,975

Down Payment	$66,250
Rehab Estimate	$5,750
Closing Costs	$3,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$978

MONTHLY LOAN PAYMENT

30 yr

4.25%

25.00%

Down Payment

Term	30 Years
Interest	4.25%
Down Payment	$66,250
Loan Amount	$198,750

See What Happens When You Reinvest Cash Flow

8.58

YEARS SAVED

$35,591

INTEREST SAVED

CASH FLOW REINVESTMENT

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

$1,460
LIST RENT
$0.97
LIST RENT PER SQFT

$1,483
COMP ESTIMATED VALUE
$0.98
COMP AVG. RENT PER SQFT

Comps Range

$1,195

1$1,1952$1,4603$1,5504$1,5955$1,600

$1,600

RENT COMPS ANALYSIS

1,509
PROPERTY SQFT
$0.98
AVG RENT PER SQFT
$1,483
ESTIMATED VALUE
$1,460
LIST RENT

8025 Mourning Dove Road Raleigh, NC 2

3 beds 2 baths ∙ 1,509 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,509 Sqft ∙ Built 1987
Price

Price Per SQFT

$265,000

$175.61
7808 Prospector Place Raleigh, NC 1

3 beds 3 baths ∙ 1,601 Sqft ∙ Built 1981 3 beds 3 baths ∙ 1,601 Sqft ∙ Built 1981
SOLD 07/13/20
Price

Price Per SQFT

$248,500

$155.22
7837 Foxwood Drive Raleigh, NC 3

3 beds 3 baths ∙ 1,540 Sqft ∙ Built 1984 3 beds 3 baths ∙ 1,540 Sqft ∙ Built 1984
SOLD 11/20/20
Price

Price Per SQFT

$290,000

$188.31
717 Sawmill Road Raleigh, NC 4

3 beds 2 baths ∙ 1,650 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,650 Sqft ∙ Built 1982
SOLD 11/04/20
Price

Price Per SQFT

$305,500

$185.15
7013 Brecken Ridge Avenue Raleigh, NC 5

3 beds 2 baths ∙ 1,605 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,605 Sqft ∙ Built 1973
SOLD 07/20/20
Price

Price Per SQFT

$308,000

$191.90

8025 Mourning Dove Road Raleigh, NC 2

3 beds 2 baths ∙ 1,509 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,509 Sqft ∙ Built 1987
Rent

Rent Per SQFT

$1,460

$0.97
7809 Kitty Lane Raleigh, NC 1

3 beds 2 baths ∙ 1,188 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,188 Sqft ∙ Built 1983
LEASED 07/31/20
Rent

Rent Per SQFT

$1,195

$1.01
7913 Brandyapple Drive Raleigh, NC 3

3 beds 2 baths ∙ 1,618 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,618 Sqft ∙ Built 1979
LEASED 05/15/20
Rent

Rent Per SQFT

$1,550

$0.96
7801 Fairmont Court Raleigh, NC 4

4 beds 2 baths ∙ 1,665 Sqft ∙ Built 1982 4 beds 2 baths ∙ 1,665 Sqft ∙ Built 1982
LEASED 11/13/20
Rent

Rent Per SQFT

$1,595

$0.96
7404 Mine Valley Road Raleigh, NC 5

3 beds 3 baths ∙ 1,598 Sqft ∙ Built 1978 3 beds 3 baths ∙ 1,598 Sqft ∙ Built 1978
LEASED 05/10/20
Rent

Rent Per SQFT

$1,600

$1.00

PROPERTY LISTING DETAILS

Anna Powell
1.910.985.0441
Century 21 Triangle Group

Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317

Triangle Multiple Listing Service ( TMLS)
MLS #: 2357576
Last Updated: 12/12/2020

8025 Mourning Dove Road Raleigh, NC 27615

$265,000

$1,460

$75,975

REQUEST INFO

PROPERTY INFO

FACTS

CONSTRUCTION

Listing Agent

Listing Agent's Description

MARKET HIGHLIGHTS

PRICE & RENT TRENDS

SCHOOLS

North Ridge Elementary School

West Millbrook Middle School

Sanderson High School

FINANCIALS

$238,500$291,50000$265,000

$1,314$1,60600$1,460

Acquisition Concierge

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

$265,000

$1,460

0.55%

PROJECTED ACCUMULATED WEALTH

PROJECTED ANNUAL CASH FLOW

PROJECTED PROPERTY VALUE

TOTAL CASH OUT OF POCKET

INVESTMENT

LOAN DETAILS

25%

$978

8.58

$35,591

$265,000

$175.61

$271,839

$180.14

COMPS RANGE

PRICE COMPS ANALYSIS

$1,460

$0.97

$1,483

$0.98

Comps Range

RENT COMPS ANALYSIS

PROPERTY LISTING DETAILS