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8120 Rolling Glenn Drive Raleigh, NC 27616

4 Beds 3 Baths 2,263 sqft Built 2004

$284,900

List Price

$1,550

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 04, 2020 RECENTLY ADDED
FACTS
  • Built In 2004
  • Price/Sqft : $125.89
  • 5 Days on Market
  • MLS # : 2352089
  • Updated Date : 11/04/2020 at 20:26
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,263 sqft
  • Baths : 2 full , 1 half
Listing Agent

Fonville Morisey/stonehenge Sales Office

Listing Agent's Description

Welcome home! This low maintenance exterior Cottage has stone & vinyl siding, rocking chair front porch. Fabulous open floor plan, freshly painted inside, new roof (Oct '20), sliding doors in brkfst rm lead to deck/patio overlooking fenced backyard. Large bedrooms with large closets (walk in in master plus 2 beds), convenient 2nd flr laundry rm, master bath with w/i shower & garden tub. Kitchen overlooks family rm & brkfst rm, gas fireplc (propane tank needed) in fam rm. Great NE Raleigh location.

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: Braefield

NeighborhoodNIR Market*CityMarket2010Year20002019140k150k160k170k180k190k200k210k220k230k240k250k260k270kPrice in $132k277k

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

Neighborhood: Braefield

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q29501000105011001150120012501300135014001450150015501600Rent in $9371630

* 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
 

$256,410$313,390$284,900

PURCHASE PRICE

$1,395$1,705$1,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,550
EXPENSES Loan Payment -$1,051
Property Tax -$226
Property Insurance -$71
HOA -$29
Property Management Fees -$140
CASH FLOW
$33

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.

$284,900

PROJECTED PRICE

$1,550

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 6.0%
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$200k$400k$600k$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$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$81,249

INVESTMENT

$81,249

Down Payment
$71,225
Rehab Estimate
$5,750
Closing Costs
$4,274

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,051

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $71,225
Loan Amount $213,675
See What Happens When You Reinvest Cash Flow

5.33

YEARS SAVED

$19,103

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,550

    LIST RENT
  • $0.68

    LIST RENT PER SQFT
  • $1,578

    COMP ESTIMATED VALUE
  • $0.7

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5503$1,6004$1,6505$1,800
$1,800
RENT COMPS ANALYSIS
  • 8120 Rolling Glenn Drive Raleigh, NC 2
    • 4 beds 3 baths ∙ 2,263 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,263 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.68
    •  
  • 8133 Marshall Brae Drive Raleigh, NC 1
    • 4 beds 3 baths ∙ 2,242 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,242 Sqft ∙ Built 2005
    LEASED 01/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.67
    •  
  • 8155 Willowglen Drive Raleigh, NC 3
    • 4 beds 3 baths ∙ 2,377 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,377 Sqft ∙ Built 2005
    LEASED 01/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.67
    •  
  • 4372 Lyman Avenue Raleigh, NC 4
    • 3 beds 3 baths ∙ 2,350 Sqft ∙ Built 2014 3 beds 3 baths ∙ 2,350 Sqft ∙ Built 2014
    LEASED 05/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.70
    •  
  • 3517 Pritchard Court Raleigh, NC 5
    • 5 beds 4 baths ∙ 2,400 Sqft ∙ Built 2005 5 beds 4 baths ∙ 2,400 Sqft ∙ Built 2005
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.75
    •  
PROPERTY LISTING DETAILS
Stacey Horowitz
1.919.247.8759
Fonville Morisey/stonehenge Sales Office
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2352089
Last Updated: 11/04/2020
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