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PROPERTY INFO
FACTS
- Single Family
- Built In 1996
- Price/Sqft : $142.78
- 2 Days on Market
- MLS # : 2367966
- Updated Date : 02/20/2021 at 21:19
CONSTRUCTION
- Beds : 3
- Floor Size : 1,926 sqft
- Baths : 2 full , 1 half
Listing Agent
Hunter Rowe Real Estate
Listing Agent's Description
This charming, well maintained home lives large, featuring a newly renovated kitchen with CONCRETE COUNTERTOPS and STAINLESS APPLIANCES, updated light fixtures, new paint, & LVP FLOORING on main! GREAT LOCATION IN WAKE FOREST! Enjoy being close to shopping, dining, & great schools. Professional Photography on 2/21, plan to go active 2/22.
SEE MORE
- 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
Neighborhood: Staffordshire
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Staffordshire
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,640 |
| EXPENSES | Loan Payment | -$955 |
| Property Tax | -$222 | |
| Property Insurance | -$65 | |
| HOA | -$34 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$245
|
||
This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.
$275,000
PROJECTED PRICE
$1,640
PROJECTED RENT
0.60%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.78% |
| Appreciation Year (1-5) | 4.8% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 7.49% |
| 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
$78,625
LOAN DETAILS
$955
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $68,750 |
| Loan Amount | $206,250 |
10.17
YEARS SAVED
$40,233
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,640
LIST RENT -
$0.85
LIST RENT PER SQFT
-
$1,652
COMP ESTIMATED VALUE -
$0.86
COMP AVG. RENT PER SQFT
Comps Range
-
995 W Durness Court Wake Forest, NC 1
- 3 beds 3 baths ∙ 1,926 Sqft ∙ Built 1996 3 beds 3 baths ∙ 1,926 Sqft ∙ Built 1996
- Rent
- Rent Per SQFT
- $1,640
- $0.85
-
882 Drogheda Place Wake Forest, NC 2
- 3 beds 3 baths ∙ 2,106 Sqft ∙ Built 1989 3 beds 3 baths ∙ 2,106 Sqft ∙ Built 1989
LEASED 09/27/20- Rent
- Rent Per SQFT
- $1,650
- $0.78
-
820 Siena Drive Wake Forest, NC 3
- 4 beds 3 baths ∙ 1,895 Sqft ∙ Built 1999 4 beds 3 baths ∙ 1,895 Sqft ∙ Built 1999
LEASED 06/01/20- Rent
- Rent Per SQFT
- $1,700
- $0.90
-
715 S Wingate Street Wake Forest, NC 4
- 3 beds 3 baths ∙ 2,145 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,145 Sqft ∙ Built 2003
LEASED 11/05/20- Rent
- Rent Per SQFT
- $1,895
- $0.88
-
950 E Durness Court Wake Forest, NC 5
- 3 beds 3 baths ∙ 2,188 Sqft ∙ Built 1996 3 beds 3 baths ∙ 2,188 Sqft ∙ Built 1996
LEASED 01/01/21- Rent
- Rent Per SQFT
- $1,900
- $0.87
PROPERTY LISTING DETAILS
1.919.443.9227
Hunter Rowe Real Estate
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
MLS #: 2367966
Last Updated: 02/20/2021
