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8214 Willowglen Drive Raleigh, NC 27616

3 Beds 3 Baths 2,309 sqft Built 2004

$280,000

List Price

$1,490

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 03, 2020 RECENTLY ADDED
FACTS
  • Built In 2004
  • Price/Sqft : $121.26
  • 2 Days on Market
  • MLS # : 2351676
  • Updated Date : 11/03/2020 at 05:11
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,309 sqft
  • Baths : 2 full , 1 half
Listing Agent

North Carolina Hot Properties, Llc

Listing Agent's Description

2 story beauty offers room and privacy. Home has one neighbor and a wood-buffer on 2 sides! Beautifully landcaped yard that requires minimal maintanace! 3 large bedrooms upstair. One bedroom has Nursery/Office nook/Playroom. Kitchen is open concept with a breakfast bar, dining area and a keeping/gathering room. Hardwood floors throughout lower level. Carpet on 2nd level. Bright home w/plenty of light. Small quiet neighborhood. New roof! March 2020.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • #7 Best Big City for Jobs 2018 (Forbes, 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
 

$252,000$308,000$280,000

PURCHASE PRICE

$1,341$1,639$1,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,490
EXPENSES Loan Payment -$1,033
Property Tax -$232
Property Insurance -$72
HOA -$29
Property Management Fees -$134
CASH FLOW
-$10

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.

$280,000

PROJECTED PRICE

$1,490

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$900k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$79,950

INVESTMENT

$79,950

Down Payment
$70,000
Rehab Estimate
$5,750
Closing Costs
$4,200

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,033

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $70,000
Loan Amount $210,000
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$14,684

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,490

    LIST RENT
  • $0.65

    LIST RENT PER SQFT
  • $1,605

    COMP ESTIMATED VALUE
  • $0.7

    COMP AVG. RENT PER SQFT
Comps Range
$1,490
1$1,4902$1,5003$1,6004$1,6505$1,750
$1,750
RENT COMPS ANALYSIS
  • 8214 Willowglen Drive Raleigh, NC 1
    • 3 beds 3 baths ∙ 2,309 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,309 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,490
    • $0.65
    •  
  • 8133 Marshall Brae Drive Raleigh, NC 2
    • 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
    •  
  • 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
    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 #: 2351676
Last Updated: 11/03/2020
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