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PROPERTY INFO
FACTS
- Single Family
- Built In 1994
- Price/Sqft : $168.14
- 2 Days on Market
- MLS # : 2358665
- Updated Date : 12/20/2020 at 03:11
CONSTRUCTION
- Beds : 3
- Floor Size : 1,695 sqft
- Baths : 2 full
Listing Agent
Mallard Realty Group
Listing Agent's Description
Gorgeous Ranch home on a large wooded lot with breathtaking winding walking trails. This 3 bed 2 bath 1695 sq ft home offers a large living area w/fireplace, alley kitchen, dining room that leads out to the large deck overlooking a natural park setting to enjoy with family and friends. *Berini built quality construction* Large Main bedroom, walk in closet, split bedroom plan, hall bath skytube for light, updated crawlspace for energy efficiency. The garage offers a separate workshop. Great location NO HOA
SEE MORE
- 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
- One of Top 10 cities for Small Business Friendliness (Thumbtack, 2018)
PRICE & RENT TRENDS
Zip Code: 27712
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 27712
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,630 |
| EXPENSES | Loan Payment | -$1,052 |
| Property Tax | -$198 | |
| Property Insurance | -$60 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$201
|
||
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.
$285,000
PROJECTED PRICE
$1,630
PROJECTED RENT
0.57%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.42% |
| Appreciation Year (1-5) | 5.3% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 8.51% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$81,275
LOAN DETAILS
$1,052
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $71,250 |
| Loan Amount | $213,750 |
8.67
YEARS SAVED
$39,332
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,630
LIST RENT -
$0.96
LIST RENT PER SQFT
-
$1,865
COMP ESTIMATED VALUE -
$1.1
COMP AVG. RENT PER SQFT
Comps Range
-
916 Sunstone Drive Durham, NC 2
- 3 beds 2 baths ∙ 1,695 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,695 Sqft ∙ Built 1994
- Rent
- Rent Per SQFT
- $1,630
- $0.96
-
625 Wendy Way Durham, NC 1
- 3 beds 2 baths ∙ 1,456 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,456 Sqft ∙ Built 1981
LEASED 08/14/20- Rent
- Rent Per SQFT
- $1,595
- $1.10
PROPERTY LISTING DETAILS
1.919.308.7597
Mallard Realty Group
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
MLS #: 2358665
Last Updated: 12/20/2020
