Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

8500 Old Ponderosa Circle Raleigh, NC 27529

3 Beds 3 Baths 2,058 sqft Built 2002

$275,000

List Price

$1,610

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $133.62
  • 2 Days on Market
  • MLS # : 2366741
  • Updated Date : 02/13/2021 at 18:04
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,058 sqft
  • Baths : 2 full , 1 half
Listing Agent

8th Day Realty Group Llc

Listing Agent's Description

Relax on your rocking chair front porch in this well-maintained traditional home which has a large bonus room perfect for homeschooling or telecommuting. It features a private fenced back yard on a large lot with a shed that conveys. Roof and upstairs heat pump new in 2019. New water heater Dec/20. Gutters & Vapor Barrier Jan/21. Only 24 minutes to downtown Raleigh and Fuquay-Varina, only 12 minutes to White Oak Shopping Ctr. No City Taxes! Homes in this location and condition go fast with multiple offers

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
  • Major employers in Raleigh area: IBM, Cisco systems, Fidelity Investments, GlaxoSmithKline, RTI International
  • #7 Best Big City for Jobs 2018 (Forbes, 2018)
  • 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: Highland Trails

NeighborhoodNIR Market*CityMarket2010Year20002019160k180k200k220k240k260k280k300k320k340kPrice in $153k359k

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

Neighborhood: Highland Trails

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2900100011001200130014001500160017001800Rent in $8621873

* 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
Rand Road Elementary School Primary Regular 558 36 5
North Garner Middle School Middle Regular 948 59 3
South Garner High School High Regular NA

Rand Road Elementary School

  • Education Level: Primary
  • # of students: 558
  • # of teachers: 36
5
GreatSchools Rating

North Garner Middle School

  • Education Level: Middle
  • # of students: 948
  • # of teachers: 59
3
GreatSchools Rating

South Garner High School

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

$247,500$302,500$275,000

PURCHASE PRICE

$1,449$1,771$1,610

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,610
EXPENSES Loan Payment -$955
Property Tax -$243
Property Insurance -$67
HOA -$7
Property Management Fees -$119
CASH FLOW
$218

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.

$275,000

PROJECTED PRICE

$1,610

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.33%
Appreciation Year (1-5) 4.9%
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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

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$78,625

INVESTMENT

$78,625

Down Payment
$68,750
Rehab Estimate
$5,750
Closing Costs
$4,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$955

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $68,750
Loan Amount $206,250
See What Happens When You Reinvest Cash Flow

10.17

YEARS SAVED

$40,192

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,610

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $1,660

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,6103$1,8754$1,900
$1,900
RENT COMPS ANALYSIS
  • 8500 Old Ponderosa Circle Raleigh, NC 2
    • 3 beds 3 baths ∙ 2,058 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,058 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,610
    • $0.78
    •  
  • 701 Arbor Greene Drive Garner, NC 1
    • 3 beds 3 baths ∙ 1,900 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,900 Sqft ∙ Built 2000
    LEASED 08/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.79
    •  
  • 4909 Swordfish Drive Raleigh, NC 3
    • 3 beds 3 baths ∙ 2,227 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,227 Sqft ∙ Built 2004
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.84
    •  
  • 193 Ryder Cup Circle Raleigh, NC 4
    • 3 beds 3 baths ∙ 2,400 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,400 Sqft ∙ Built 2006
    LEASED 10/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.79
    •  
PROPERTY LISTING DETAILS
Ricardo Cobos
1.919.670.3298
8th Day Realty Group Llc
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2366741
Last Updated: 02/13/2021
BESbswy