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930 Logan Circle Cary, NC 27511

4 Beds 3 Baths 1,800 sqft Built 1971

$300,000

List Price

$1,730

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1971
  • Price/Sqft : $166.67
  • 4 Days on Market
  • MLS # : 2365168
  • Updated Date : 02/06/2021 at 16:44
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,800 sqft
  • Baths : 2 full , 1 half
Listing Agent

Weichert Realtors-triangle

Listing Agent's Description

This brick front cedar home in desired Scottish Hills subdivisions features a custom kitchen with huge windows that allow natural light to bath the new laminate flooring. Concrete counters, pull out pantry, window seating, tons of cabinet storage, and cathedral ceilings round out this update! Screened in porch and huge patio by the heated pool for outdoor fun as we head into Spring. One car garage has extra storage, workbench, and door to the pool area. No HOA fees! Cul-de-sac features extra parking.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • #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

PRICE & RENT TRENDS

Neighborhood: Scottish Hills

NeighborhoodNIR Market*CityMarket2010Year20002019160k180k200k220k240k260k280k300k320k340k360k380kPrice in $150k385k

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

Neighborhood: Scottish Hills

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q21000110012001300140015001600170018001900Rent in $9381978

* 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
Briarcliff Elementary School Primary Regular 626 44 7
Reedy Creek Middle School Middle Regular 829 52 3
Cary High School High Regular 2,396 135 7

Briarcliff Elementary School

  • Education Level: Primary
  • # of students: 626
  • # of teachers: 44
7
GreatSchools Rating

Reedy Creek Middle School

  • Education Level: Middle
  • # of students: 829
  • # of teachers: 52
3
GreatSchools Rating

Cary High School

  • Education Level: High
  • # of students: 2,396
  • # of teachers: 135
7
GreatSchools Rating
 

$270,000$330,000$300,000

PURCHASE PRICE

$1,557$1,903$1,730

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,730
EXPENSES Loan Payment -$1,042
Property Tax -$243
Property Insurance -$62
Property Management Fees -$119
CASH FLOW
$264

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 16% of earned rent to cover both maintenance and periods of vacancy.

$300,000

PROJECTED PRICE

$1,730

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.33%
Appreciation Year (1-5) 6.5%
Maintenance Year (1-5) 8.00%
Vacancy 7.51%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,042

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $75,000
Loan Amount $225,000
See What Happens When You Reinvest Cash Flow

10.67

YEARS SAVED

$47,342

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,730

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,670

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,5003$1,5954$1,7305$1,750
$1,750
RENT COMPS ANALYSIS
  • 930 Logan Circle Cary, NC 4
    • 4 beds 3 baths ∙ 1,800 Sqft ∙ Built 1971 4 beds 3 baths ∙ 1,800 Sqft ∙ Built 1971
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,730
    • $0.96
    •  
  • 1401 Tarbert Drive Cary, NC 1
    • 3 beds 3 baths ∙ 1,600 Sqft ∙ Built 1978 3 beds 3 baths ∙ 1,600 Sqft ∙ Built 1978
    property image
    LEASED 04/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.93
    •  
  • 106 Cape Cod Drive Cary, NC 2
    • 3 beds 3 baths ∙ 1,700 Sqft ∙ Built 1987 3 beds 3 baths ∙ 1,700 Sqft ∙ Built 1987
    property image
    LEASED 11/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.88
    •  
  • 105 Keithwood Lane Cary, NC 3
    • 3 beds 3 baths ∙ 1,800 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,800 Sqft ∙ Built 1988
    property image
    LEASED 07/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.89
    •  
  • 110 Topsail Court Cary, NC 5
    • 3 beds 3 baths ∙ 1,739 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,739 Sqft ∙ Built 1986
    property image
    LEASED 12/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.01
    •  
PROPERTY LISTING DETAILS
Jay Wellons
1.919.398.2767
Weichert Realtors-triangle
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2365168
Last Updated: 02/06/2021
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