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9 Savi Court Durham, NC 27713

3 Beds 2 Baths 1,377 sqft Built 1996

$200,000

List Price

$1,340

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $145.24
  • 2 Days on Market
  • MLS # : 2367892
  • Updated Date : 02/21/2021 at 04:16
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,377 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Elite Realty

Listing Agent's Description

Wonderful Cape Cod style cul-de-sac home in SW Durham; walk to Hillside High School (International Baccalaureate Program), and city bus stop; 1st floor master and bath; large covered patio for outdoor dining, or a patio garden. Minutes to dining and entertainment venues in the Bull City. Easy drive to NCCU, downtown Durham, Duke University, UNC-CH, Research Triangle Park, and RDU International airport. Take the city bus to the Streets at Southpointe mall. Come see this property and make it your new home!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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

PRICE & RENT TRENDS

Zip Code: 27713

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $106k303k

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

Zip Code: 27713

ZipNIR 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
Lowe's Grove Magnet Middle School Middle Regular 708 47 3
Hillside High School High Regular 1,318 91 4

Southwest Elementary School

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

Lowe's Grove Magnet Middle School

  • Education Level: Middle
  • # of students: 708
  • # of teachers: 47
3
GreatSchools Rating

Hillside High School

  • Education Level: High
  • # of students: 1,318
  • # of teachers: 91
4
GreatSchools Rating
 

$180,000$220,000$200,000

PURCHASE PRICE

$1,206$1,474$1,340

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,340
EXPENSES Loan Payment -$695
Property Tax -$177
Property Insurance -$54
Property Management Fees -$119
CASH FLOW
$296

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.

$200,000

PROJECTED PRICE

$1,340

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.42%
Appreciation Year (1-5) 4.6%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$58,750

INVESTMENT

$58,750

Down Payment
$50,000
Rehab Estimate
$5,750
Closing Costs
$3,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 25% down payment or higher enables the proceeds from the asset to cover all costs.

$695

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $50,000
Loan Amount $150,000
See What Happens When You Reinvest Cash Flow

12.08

YEARS SAVED

$37,856

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,340

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,422

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,3403$1,4504$1,5505$1,600
$1,600
RENT COMPS ANALYSIS
  • 9 Savi Court Durham, NC 2
    • 3 beds 2 baths ∙ 1,377 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,377 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $1,340
    • $0.97
    •  
  • 34 Yorkfield Court Durham, NC 1
    • 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1998
    LEASED 10/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $1.08
    •  
  • 1014 Gaston Avenue Durham, NC 3
    • 3 beds 3 baths ∙ 1,519 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,519 Sqft ∙ Built 2001
    LEASED 09/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.95
    •  
  • 7 Grosbeak Lane Durham, NC 4
    • 3 beds 3 baths ∙ 1,422 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,422 Sqft ∙ Built 2002
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.09
    •  
  • 1213 Orchard Oriole Lane Durham, NC 5
    • 3 beds 3 baths ∙ 1,584 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,584 Sqft ∙ Built 2004
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.01
    •  
PROPERTY LISTING DETAILS
Cynthia Frierson
1.919.308.9916
Keller Williams Elite Realty
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2367892
Last Updated: 02/21/2021
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