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844 Stackhurst Way Wake Forest, NC 27587

4 Beds 3 Baths 1,984 sqft Built 2006

$259,900

List Price

$1,510

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $131.00
  • 3 Days on Market
  • MLS # : 2357445
  • Updated Date : 12/11/2020 at 16:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,984 sqft
  • Baths : 2 full , 1 half
Listing Agent

United Brokers Ltd

Listing Agent's Description

Well maintained home conveniently located within minutes of shopping and entertainment in beautiful Wake Forest! Neutral gray paint throughout. Laminate floors downstairs and plush carpet with upgraded memory foam padding upstairs. Very spacious master bedroom featuring a large, custom walk-in closet. Master bathroom features separate shower and garden tub. Open fourth bedroom doubles as a loft. Downstairs features a separate dining room and an open living room and kitchen area. New black stainless steel

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Wake Forest

ZipNIR Market*CityMarket2010Year20002019160k180k200k220k240k260k280k300k320k340kPrice in $153k359k

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

Neighborhood: Wake Forest

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q21100120013001400150016001700180019002000Rent in $10272062

* 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
Youngsville Elementary School Primary Regular 449 30 5
Cedar Creek Middle School Middle Regular 610 37 7
Franklinton High School High Regular 1,008 56 6

Youngsville Elementary School

  • Education Level: Primary
  • # of students: 449
  • # of teachers: 30
5
GreatSchools Rating

Cedar Creek Middle School

  • Education Level: Middle
  • # of students: 610
  • # of teachers: 37
7
GreatSchools Rating

Franklinton High School

  • Education Level: High
  • # of students: 1,008
  • # of teachers: 56
6
GreatSchools Rating
 

$233,910$285,890$259,900

PURCHASE PRICE

$1,359$1,661$1,510

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,510
EXPENSES Loan Payment -$959
Property Tax -$261
Property Insurance -$66
HOA -$44
Property Management Fees -$119
CASH FLOW
$61

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 16% of earned rent to cover both maintenance and periods of vacancy.

$259,900

PROJECTED PRICE

$1,510

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.33%
Appreciation Year (1-5) 4.5%
Maintenance Year (1-5) 8.00%
Vacancy 7.51%
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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,624

INVESTMENT

$74,624

Down Payment
$64,975
Rehab Estimate
$5,750
Closing Costs
$3,899

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$959

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $64,975
Loan Amount $194,925
See What Happens When You Reinvest Cash Flow

7.42

YEARS SAVED

$27,718

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,510

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $1,495

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$1,475
1$1,4752$1,5103$1,5754$1,800
$1,800
RENT COMPS ANALYSIS
  • 844 Stackhurst Way Wake Forest, NC 2
    • 4 beds 3 baths ∙ 1,984 Sqft ∙ Built 2006 4 beds 3 baths ∙ 1,984 Sqft ∙ Built 2006
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,510
    • $0.76
    •  
  • 821 Stackhurst Way Wake Forest, NC 1
    • 3 beds 3 baths ∙ 2,027 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,027 Sqft ∙ Built 2003
    property image
    LEASED 03/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.73
    •  
  • 716 Stackhurst Way Wake Forest, NC 3
    • 4 beds 3 baths ∙ 2,100 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,100 Sqft ∙ Built 2008
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.75
    •  
  • 300 Colin Court Wake Forest, NC 4
    • 4 beds 3 baths ∙ 2,308 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,308 Sqft ∙ Built 2019
    property image
    LEASED 02/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.78
    •  
PROPERTY LISTING DETAILS
Steve Toop
1.910.791.2829
United Brokers Ltd
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2357445
Last Updated: 12/11/2020
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