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9 Ingram Court Durham, NC 27713

3 Beds 3 Baths 1,430 sqft Built 1998

$270,000

List Price

$1,390

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $188.81
  • 2 Days on Market
  • MLS # : 2354842
  • Updated Date : 11/21/2020 at 18:10
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,430 sqft
  • Baths : 2 full , 1 half
Listing Agent

Fathom Realty Nc, Llc

Listing Agent's Description

Don’t be a turkey, grab it while it’s hot! Give thanks that this single family home is less than 15 minutes to downtown Durham & Duke University, nestled comfortably on cul-de-sac lot in desirable Hope Valley Farms. A cornucopia of features - spacious living room complete w/ fireplace, formal dining room, breakfast area, screened porch and new appliances! Everything is gravy as you find your way upstairs to a large homeowner suite w/ lovely ensuite & walk-in closet, two additional bedrooms & a full bath!

SEE MORE

MARKET HIGHLIGHTS

  • 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
  • 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)

PRICE & RENT TRENDS

Neighborhood: Hope Valley Farms North

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $106k303k

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

Neighborhood: Hope Valley Farms North

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q290010001100120013001400150016001700Rent in $8591734

* 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
Southwest Elementary School Primary Regular 666 44 4
Sherwood Githens Middle School Middle Regular 1,011 62 5
Charles E. Jordan High School High Regular 1,848 107 4

Southwest Elementary School

  • Education Level: Primary
  • # of students: 666
  • # of teachers: 44
4
GreatSchools Rating

Sherwood Githens Middle School

  • Education Level: Middle
  • # of students: 1,011
  • # of teachers: 62
5
GreatSchools Rating

Charles E. Jordan High School

  • Education Level: High
  • # of students: 1,848
  • # of teachers: 107
4
GreatSchools Rating
 

$243,000$297,000$270,000

PURCHASE PRICE

$1,251$1,529$1,390

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,390
EXPENSES Loan Payment -$996
Property Tax -$234
Property Insurance -$55
HOA -$27
Property Management Fees -$125
CASH FLOW
-$47

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.

$270,000

PROJECTED PRICE

$1,390

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.42%
Appreciation Year (1-5) 6.4%
Maintenance Year (1-5) 8.00%
Vacancy 8.51%
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-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$77,300

INVESTMENT

$77,300

Down Payment
$67,500
Rehab Estimate
$5,750
Closing Costs
$4,050

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$996

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $67,500
Loan Amount $202,500
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$8,449

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,390

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,419

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,390
1$1,3902$1,4503$1,4954$1,5255$1,650
$1,650
RENT COMPS ANALYSIS
  • 9 Ingram Court Durham, NC 1
    • 3 beds 3 baths ∙ 1,430 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,430 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $1,390
    • $0.97
    •  
  • 5 Leeward Court Durham, NC 2
    • 3 beds 2 baths ∙ 1,425 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,425 Sqft ∙ Built 1987
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.02
    •  
  • 4518 Dolwick Drive Durham, NC 3
    • 4 beds 2 baths ∙ 1,492 Sqft ∙ Built 1999 4 beds 2 baths ∙ 1,492 Sqft ∙ Built 1999
    LEASED 09/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.00
    •  
  • 6009 Coronado Lane Durham, NC 4
    • 4 beds 3 baths ∙ 1,544 Sqft ∙ Built 2000 4 beds 3 baths ∙ 1,544 Sqft ∙ Built 2000
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.99
    •  
  • 10 Sugar Creek Drive Durham, NC 5
    • 4 beds 3 baths ∙ 1,720 Sqft ∙ Built 1994 4 beds 3 baths ∙ 1,720 Sqft ∙ Built 1994
    LEASED 08/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.96
    •  
PROPERTY LISTING DETAILS
Dave Wylie
1.252.412.4646
Fathom Realty Nc, Llc
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2354842
Last Updated: 11/21/2020
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