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8210 Willowglen Drive Raleigh, NC 27616

4 Beds 3 Baths 2,168 sqft Built 2004

$277,500

List Price

$1,620

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $128.00
  • 13 Days on Market
  • MLS # : 2351775
  • Updated Date : 11/13/2020 at 14:28
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,168 sqft
  • Baths : 3 full
Listing Agent

North Carolina Hot Properties, Llc

Listing Agent's Description

This one will not last! Small neighborhood. Walking distance to shopping and restaurants. Easy access to walking trails and 540. Open floor plan with 4 BR and 3 full baths. Sunny Den/Office/Sunroom with French doors. Plenty of windows for tons of natural light. Finished garage floor. Separate dining area. 2 WIC in MBR. New roof and HVAC unit. Washer and Dryer remain. $3000 flooring allowance with full price offer.

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 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
 

$249,750$305,250$277,500

PURCHASE PRICE

$1,458$1,782$1,620

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,620
EXPENSES Loan Payment -$1,024
Property Tax -$224
Property Insurance -$69
HOA -$29
Property Management Fees -$146
CASH FLOW
$127

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.

$277,500

PROJECTED PRICE

$1,620

PROJECTED RENT

0.58%

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$16k

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$79,288

INVESTMENT

$79,288

Down Payment
$69,375
Rehab Estimate
$5,750
Closing Costs
$4,163

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,024

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $69,375
Loan Amount $208,125
See What Happens When You Reinvest Cash Flow

7.08

YEARS SAVED

$28,481

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,620

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $1,588

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6203$1,6454$1,6505$1,750
$1,750
RENT COMPS ANALYSIS
  • 8210 Willowglen Drive Raleigh, NC 2
    • 4 beds 3 baths ∙ 2,168 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,168 Sqft ∙ Built 2004
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,620
    • $0.75
    •  
  • 3613 Pinkham Way Raleigh, NC 1
    • 3 beds 3 baths ∙ 2,076 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,076 Sqft ∙ Built 2004
    property image
    LEASED 07/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.77
    •  
  • 7256 Great Laurel Drive Raleigh, NC 3
    • 4 beds 3 baths ∙ 2,293 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,293 Sqft ∙ Built 2003
    property image
    LEASED 09/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,645
    • $0.72
    •  
  • 4372 Lyman Avenue Raleigh, NC 4
    • 3 beds 3 baths ∙ 2,350 Sqft ∙ Built 2014 3 beds 3 baths ∙ 2,350 Sqft ∙ Built 2014
    property image
    LEASED 05/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.70
    •  
  • 2441 Slate Rock Drive Wake Forest, NC 5
    • 4 beds 3 baths ∙ 2,350 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,350 Sqft ∙ Built 2018
    property image
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.74
    •  
PROPERTY LISTING DETAILS
Donna Dematteo
1.803.315.5014
North Carolina Hot Properties, Llc
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2351775
Last Updated: 11/13/2020
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