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8829 Juaquin Lane Raleigh, NC 27603

3 Beds 2 Baths 1,260 sqft Built 1993

INVESTimate

$215,000

List Price

$1,240

$1,116 - $1,364

Rent Est.

$227,234  ( +5.69%)   1 YR EST. FORECAST

PROPERTY INFO

August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 1993
  • Price/Sqft : $170.63
  • 3 Days on Market
  • MLS # : 2338984
  • Updated Date : 08/25/2020 at 05:26
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,260 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Legacy

Listing Agent's Description

What an opportunity to own a ranch home in a great location! Lots of updates and move in ready. Spacious living room with gas fireplace and vaulted ceiling.Main living area hardwood,laminate in BR. Roof 2019, and HVAC &Hot water 2018. Kit. has SS appl.,chefs stove & tile back-splash. Bathrooms w/updated lighting, fixtures, and granite counter top. Large master suite has vaulted ceiling, double vanity and walk-in closet. Huge deck that backs to a private, wooded backyard. Large walk-in crawl space workshop

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: Woods of Ashbury

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260kPrice in $125k277k

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

Neighborhood: Woods of Ashbury

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q27008009001000110012001300140015001600Rent in $6891630

* 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
Banks Road Elementary School Primary Regular 699 48 6
Holly Grove Middle School Middle Regular 1,439 81 8
Middle Creek High School High Regular 2,249 120 7

Banks Road Elementary School

  • Education Level: Primary
  • # of students: 699
  • # of teachers: 48
6
GreatSchools Rating

Holly Grove Middle School

  • Education Level: Middle
  • # of students: 1,439
  • # of teachers: 81
8
GreatSchools Rating

Middle Creek High School

  • Education Level: High
  • # of students: 2,249
  • # of teachers: 120
7
GreatSchools Rating
 

$193,500$236,500$215,000

PURCHASE PRICE

$1,116$1,364$1,240

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,240
EXPENSES Loan Payment -$793
Property Tax -$158
Property Insurance -$52
HOA -$13
Property Management Fees -$112
CASH FLOW
$112

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.

$215,000

PROJECTED PRICE

$1,240

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 5.69%
Maintenance Year (1-5) 8.00%
Vacancy 7.49%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$62,725

INVESTMENT

$62,725

Down Payment
$53,750
Rehab Estimate
$5,750
Closing Costs
$3,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$793

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $53,750
Loan Amount $161,250
See What Happens When You Reinvest Cash Flow

7.42

YEARS SAVED

$23,636

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,240

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $1,235

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,240
1$1,2402$1,2953$1,2954$1,2985$1,350
$1,350
RENT COMPS ANALYSIS
  • 8829 Juaquin Lane Raleigh, 1
    • 3 beds 2 baths ∙ 1,260 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,260 Sqft ∙ Built 1993
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,240
    • $0.98
    •  
  • 8736 Manns Loop Road Apex, 2
    • 3 beds 2 baths ∙ 1,257 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,257 Sqft ∙ Built 1992
    property image
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $1.03
    •  
  • 8908 Juaquin Lane Raleigh, 3
    • 3 beds 3 baths ∙ 1,432 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,432 Sqft ∙ Built 1997
    property image
    LEASED 07/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.90
    •  
  • 2737 Brantley Drive Apex, 4
    • 3 beds 2 baths ∙ 1,421 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,421 Sqft ∙ Built 1981
    property image
    LEASED 06/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,298
    • $0.91
    •  
  • 4820 Morecambe Way Apex, 5
    • 3 beds 2 baths ∙ 1,246 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,246 Sqft ∙ Built 1998
    property image
    LEASED 05/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.08
    •  
PROPERTY LISTING DETAILS
Azita Wilson
1.919.656.1439
Keller Williams Legacy
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2338984
Last Updated: 08/25/2020
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