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8207 Willowglen Drive Raleigh, NC 27616

3 Beds 3 Baths 1,404 sqft Built 2004

$245,000

List Price

$1,290

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $174.50
  • 3 Days on Market
  • MLS # : 2370525
  • Updated Date : 03/06/2021 at 01:53
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,404 sqft
  • Baths : 2 full , 1 half
Listing Agent

Exp Realty

Listing Agent's Description

CHARMING three bedroom home in Braefield on a corner lot!!!! Two car garage. First floor has wood laminate flooring. Freshly painted interior throughout. Neighborhood is conveniently located for shopping, dining, Neuse River trails and 540. Two story family room with vaulted ceilings and fireplace. Open floor plan. Large owner’s suite with vaulted ceiling. New heat pump in 2019. Low HOA! Hurry…..homes don’t last long in this neighborhood!!!!

SEE MORE

MARKET HIGHLIGHTS

  • 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
  • #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)

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 NA
Rolesville High School High Unknown 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:
  • # of teachers:
NA
GreatSchools Rating

Rolesville High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$220,500$269,500$245,000

PURCHASE PRICE

$1,161$1,419$1,290

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,290
EXPENSES Loan Payment -$851
Property Tax -$183
Property Insurance -$55
HOA -$29
Property Management Fees -$119
CASH FLOW
$53

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.

$245,000

PROJECTED PRICE

$1,290

PROJECTED RENT

0.53%

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$100k$200k$300k$400k$500k$600k$700k$800k

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$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$70,675

INVESTMENT

$70,675

Down Payment
$61,250
Rehab Estimate
$5,750
Closing Costs
$3,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$851

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $61,250
Loan Amount $183,750
See What Happens When You Reinvest Cash Flow

6.67

YEARS SAVED

$19,629

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,290

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,301

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,290
1$1,2902$1,3003$1,3004$1,375
$1,375
RENT COMPS ANALYSIS
  • 8207 Willowglen Drive Raleigh, NC 1
    • 3 beds 3 baths ∙ 1,404 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,404 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,290
    • $0.92
    •  
  • 3704 Turnbull Court Raleigh, NC 2
    • 3 beds 2 baths ∙ 1,420 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,420 Sqft ∙ Built 1994
    LEASED 02/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.92
    •  
  • 7500 Brighton Hill Lane Raleigh, NC 3
    • 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
    •  
  • 3516 Casine Court Wake Forest, NC 4
    • 3 beds 3 baths ∙ 1,485 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,485 Sqft ∙ Built 1985
    LEASED 04/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.93
    •  
PROPERTY LISTING DETAILS
Tina Caul
1.919.665.8210
Exp Realty
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2370525
Last Updated: 03/06/2021
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