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3112 Twatchman Drive 
Raleigh, NC
27616
3 Beds 3 Baths 2,220 sqft
Built 1994
INVESTimate
$299,999
List Price
$85,250
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PROPERTY INFO
FACTS
- Built In 1994
- Price/Sqft : $135.13
- 2 Days on Market
- MLS # : 2339062
- Updated Date : 08/25/2020 at 17:49
CONSTRUCTION
- Beds : 3
- Floor Size : 2,220 sqft
- Baths : 2 full , 1 half
Listing Agent
Century 21 Triangle Group
Listing Agent's Description
There is a lot to love about this renovated home located just past the Neuse river minutes away from downtown Raleigh. Located on a quiet Cul-de-sac with plenty of mature tress providing shade and privacy you will feel like your in the mountains on vacation every time you return home. Practically everything is new now including the HVAC, appliances, roof, flooring. Gutters are being replaced this week. Priced at 300k so you'll need to hurry if affordability, privacy and quality are in your criteria
SEE MORE
- 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)
- 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)
PRICE & RENT TRENDS
Neighborhood: Heron Park
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Heron Park
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,570 |
| EXPENSES | Loan Payment | -$1,107 |
| Property Tax | -$233 | |
| Property Insurance | -$70 | |
| HOA | -$10 | |
| Property Management Fees | -$141 | |
|
CASH FLOW
$8
|
||
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.
$299,999
PROJECTED PRICE
$1,570
PROJECTED RENT
0.52%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.33% |
| Appreciation Year (1-5) | 5.69% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 7.51% |
| Length of Stay Years | 2 |
TOTAL CASH OUT OF POCKET
INVESTMENT
$85,250
LOAN DETAILS
$1,107
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $75,000 |
| Loan Amount | $224,999 |
5.42
YEARS SAVED
$21,048
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,570
LIST RENT -
$0.71
LIST RENT PER SQFT
-
$1,659
COMP ESTIMATED VALUE -
$0.75
COMP AVG. RENT PER SQFT
Comps Range
-
3112 Twatchman Drive Raleigh, 1
- 3 beds 3 baths ∙ 2,220 Sqft ∙ Built 1994 3 beds 3 baths ∙ 2,220 Sqft ∙ Built 1994
![property image]()
- Rent
- Rent Per SQFT
- $1,570
- $0.71
-
3613 Pinkham Way Raleigh, 2
- 3 beds 3 baths ∙ 2,076 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,076 Sqft ∙ Built 2004
![property image]()
LEASED 07/02/20- Rent
- Rent Per SQFT
- $1,595
- $0.77
-
3708 Fanpalm Court Raleigh, 3
- 3 beds 3 baths ∙ 2,120 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,120 Sqft ∙ Built 2004
![property image]()
LEASED 10/20/19- Rent
- Rent Per SQFT
- $1,595
- $0.75
-
3244 Forest Mill Circle Raleigh, 4
- 4 beds 3 baths ∙ 2,121 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,121 Sqft ∙ Built 2000
![property image]()
LEASED 03/09/20- Rent
- Rent Per SQFT
- $1,595
- $0.75
-
3242 Landing Falls Lane Raleigh, 5
- 3 beds 3 baths ∙ 2,290 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,290 Sqft ∙ Built 2006
![property image]()
LEASED 09/16/20- Rent
- Rent Per SQFT
- $1,650
- $0.72
PROPERTY LISTING DETAILS
1.919.889.9304
Century 21 Triangle Group
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
MLS #: 2339062
Last Updated: 08/25/2020
