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PROPERTY INFO
FACTS
- Single Family
- Built In 2001
- Price/Sqft : $127.91
- 2 Days on Market
- MLS # : 2358603
- Updated Date : 12/19/2020 at 16:00
CONSTRUCTION
- Beds : 4
- Floor Size : 2,150 sqft
- Baths : 2 full , 1 half
Listing Agent
Allen Tate/wake Forest
Listing Agent's Description
Great North East Raleigh home close to everything, I-540, Triangle Towne Mall, restaurants and more. $ bedrooms or 3 bedrooms and a bonus. Formal living and dining rooms. Hardwoods in all main floor. Granite counter tops, tile backsplash, stainless steel appliances. Large master bedroom features his and hers closet. Master bath has double vanities, soaking tub and separate shower.
SEE MORE
- 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: Park at Perry Creek
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Park at Perry Creek
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,570 |
| EXPENSES | Loan Payment | -$1,015 |
| Property Tax | -$218 | |
| Property Insurance | -$69 | |
| HOA | -$33 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$117
|
||
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
$1,570
PROJECTED RENT
0.57%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.78% |
| Appreciation Year (1-5) | 5.7% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 7.49% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$78,625
LOAN DETAILS
$1,015
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $68,750 |
| Loan Amount | $206,250 |
7.75
YEARS SAVED
$32,472
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,570
LIST RENT -
$0.73
LIST RENT PER SQFT
-
$1,661
COMP ESTIMATED VALUE -
$0.77
COMP AVG. RENT PER SQFT
Comps Range
-
8308 Neuse Lawn Road Raleigh, NC 1
- 4 beds 3 baths ∙ 2,150 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,150 Sqft ∙ Built 2001
- Rent
- Rent Per SQFT
- $1,570
- $0.73
-
3244 Forest Mill Circle Raleigh, NC 2
- 4 beds 3 baths ∙ 2,121 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,121 Sqft ∙ Built 2000
LEASED 03/09/20- Rent
- Rent Per SQFT
- $1,595
- $0.75
-
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
1.919.696.5904
Allen Tate/wake Forest
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
MLS #: 2358603
Last Updated: 12/19/2020
