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9 Boxley Court Durham, NC 27704

3 Beds 3 Baths 1,431 sqft Built 2004

$229,900

List Price

$1,410

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

January 01, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $160.66
  • 4 Days on Market
  • MLS # : 2359577
  • Updated Date : 12/31/2020 at 23:36
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,431 sqft
  • Baths : 2 full , 1 half
Listing Agent

Grow Local Realty Llc

Listing Agent's Description

Beautiful remodeled home with tons of upgrades! Updated kitchen with granite counter tops, tile back splash, and stainless steel appliances. Updated bathrooms with granite counter tops. Luxury vinyl plank floors throughout main living area and new plush carpet upstairs and in bedrooms. Freshly painted with smooth ceilings. New hardware and fixtures throughout. Patio looks out at a nice private backyard.

SEE MORE

MARKET HIGHLIGHTS

  • #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
  • 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

Zip Code: 27704

ZipNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260kPrice in $61k274k

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

Zip Code: 27704

ZipNIR Market*CityMarket2010Year2000 Q22019 Q2800900100011001200130014001500Rent in $7261518

* 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
Merrick-moore Elementary School Primary Regular 704 46 3
Neal Magnet Middle School Middle Regular 857 60 1
Southern School Of Energy And Sustainability High Regular 1,292 90 2

Merrick-moore Elementary School

  • Education Level: Primary
  • # of students: 704
  • # of teachers: 46
3
GreatSchools Rating

Neal Magnet Middle School

  • Education Level: Middle
  • # of students: 857
  • # of teachers: 60
1
GreatSchools Rating

Southern School Of Energy And Sustainability

  • Education Level: High
  • # of students: 1,292
  • # of teachers: 90
2
GreatSchools Rating
 

$206,910$252,890$229,900

PURCHASE PRICE

$1,269$1,551$1,410

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,410
EXPENSES Loan Payment -$848
Property Tax -$199
Property Insurance -$55
HOA -$60
Property Management Fees -$119
CASH FLOW
$129

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$229,900

PROJECTED PRICE

$1,410

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.28%
Appreciation Year (1-5) 6.7%
Maintenance Year (1-5) 8.00%
Vacancy 8.55%
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$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$66,674

INVESTMENT

$66,674

Down Payment
$57,475
Rehab Estimate
$5,750
Closing Costs
$3,449

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$848

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $57,475
Loan Amount $172,425
See What Happens When You Reinvest Cash Flow

8.58

YEARS SAVED

$30,767

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,410

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $1,402

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,375
1$1,3752$1,4103$1,5004$1,5755$1,650
$1,650
RENT COMPS ANALYSIS
  • 9 Boxley Court Durham, NC 2
    • 3 beds 3 baths ∙ 1,431 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,431 Sqft ∙ Built 2004
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,410
    • $0.99
    •  
  • 2521 Dovetail Drive Durham, NC 1
    • 3 beds 3 baths ∙ 1,392 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,392 Sqft ∙ Built 2002
    property image
    LEASED 06/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.99
    •  
  • 20 Crescent Hill Court Durham, NC 3
    • 3 beds 3 baths ∙ 1,535 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,535 Sqft ∙ Built 2004
    property image
    LEASED 04/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.98
    •  
  • 5 Crescent Hill Court Durham, NC 4
    • 3 beds 3 baths ∙ 1,561 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,561 Sqft ∙ Built 2004
    property image
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $1.01
    •  
  • 806 Pebblestone Drive Durham, NC 5
    • 3 beds 3 baths ∙ 1,748 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,748 Sqft ∙ Built 2003
    property image
    LEASED 05/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.94
    •  
PROPERTY LISTING DETAILS
Nicholas Yarrington
1.910.639.4890
Grow Local Realty Llc
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2359577
Last Updated: 12/31/2020
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