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8108 Duck Creek Drive Raleigh, NC 27616

4 Beds 3 Baths 2,100 sqft Built 2002

$275,000

List Price

$1,530

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 2002
  • Price/Sqft : $130.95
  • 4 Days on Market
  • MLS # : 2352217
  • Updated Date : 11/05/2020 at 21:35
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,100 sqft
  • Baths : 2 full , 1 half
Listing Agent

Exp Realty

Listing Agent's Description

Great opportunity in Riverside! Nestled on a buffered lot, this Main Floor Owner's Suite plan does not disappoint! Fresh flooring, carpet & paint helps you move right in! Well-designed open floor plan - two dining areas (or use one for home office), cathedral-ceiling family room and second floor balcony hallway. Separate shower & tub in Owner Suite with walk-in closet and custom storage system. Ample bedrooms upstairs allow for guests, office or gameroom use. Private back yard - don't miss this home!

SEE MORE

MARKET HIGHLIGHTS

  • #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)
  • 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: Riverside

NeighborhoodNIR Market*CityMarket2010Year20002019140k150k160k170k180k190k200k210k220k230k240k250k260k270kPrice in $132k277k

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

Neighborhood: Riverside

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q210001100120013001400150016001700Rent in $9461743

* 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
Wildwood Forest Elementary School Primary Regular 831 56 4
Wake Forest Middle School Middle Regular 1,021 60 4
Wakefield High School High Regular 2,387 132 5

Wildwood Forest Elementary School

  • Education Level: Primary
  • # of students: 831
  • # of teachers: 56
4
GreatSchools Rating

Wake Forest Middle School

  • Education Level: Middle
  • # of students: 1,021
  • # of teachers: 60
4
GreatSchools Rating

Wakefield High School

  • Education Level: High
  • # of students: 2,387
  • # of teachers: 132
5
GreatSchools Rating
 

$247,500$302,500$275,000

PURCHASE PRICE

$1,377$1,683$1,530

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,530
EXPENSES Loan Payment -$1,015
Property Tax -$202
Property Insurance -$68
HOA -$38
Property Management Fees -$138
CASH FLOW
$69

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.

$275,000

PROJECTED PRICE

$1,530

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 3.8%
Maintenance Year (1-5) 8.00%
Vacancy 7.49%
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$800k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$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$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,625

INVESTMENT

$78,625

Down Payment
$68,750
Rehab Estimate
$5,750
Closing Costs
$4,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,015

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $68,750
Loan Amount $206,250
See What Happens When You Reinvest Cash Flow

5.92

YEARS SAVED

$22,209

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,530

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $1,612

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5303$1,6804$1,6955$1,795
$1,795
RENT COMPS ANALYSIS
  • 8108 Duck Creek Drive Raleigh, NC 2
    • 4 beds 3 baths ∙ 2,100 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,100 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,530
    • $0.73
    •  
  • 6004 Brambleberry Way Raleigh, NC 1
    • 3 beds 3 baths ∙ 2,054 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,054 Sqft ∙ Built 2005
    LEASED 12/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.73
    •  
  • 7501 Solumbra Court Raleigh, NC 3
    • 5 beds 3 baths ∙ 2,078 Sqft ∙ Built 1995 5 beds 3 baths ∙ 2,078 Sqft ∙ Built 1995
    LEASED 12/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $0.81
    •  
  • 8905 Elizabeth Bennet Place Raleigh, NC 4
    • 3 beds 3 baths ∙ 2,279 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,279 Sqft ∙ Built 2005
    LEASED 07/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.74
    •  
  • 5508 Cahaba Way Raleigh, NC 5
    • 4 beds 3 baths ∙ 2,270 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,270 Sqft ∙ Built 2000
    LEASED 02/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.79
    •  
PROPERTY LISTING DETAILS
Keith Bliss
1.919.467.0707
Exp Realty
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2352217
Last Updated: 11/05/2020
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