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3513 Cashew Drive 
Raleigh, NC
27616
3 Beds 3 Baths 2,454 sqft
Built 2015
INVESTimate
$295,000
List Price
$83,925
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PROPERTY INFO
FACTS
- Built In 2015
- Price/Sqft : $120.21
- 2 Days on Market
- MLS # : 2339039
- Updated Date : 08/25/2020 at 22:43
CONSTRUCTION
- Beds : 3
- Floor Size : 2,454 sqft
- Baths : 2 full , 1 half
Listing Agent
Core Realty Advisors
Listing Agent's Description
Gorgeous Massey Preserve home! Covered front porch w stone front greets you! Inside you'll find engineered hardwoods, 1st floor private Office and fantastic Kitchen with Granite counters, SS appliances, upgraded back splash & 6-ft Island! All w/ views of large family room, covered patio area & fenced backyard. Upstairs you'll find a Master w/ trey ceiling, customized over-sized shower & 2 WICs, Loft/man cave and two comfortably sized guest bedrooms. Tons of storage and more! Community w/ pool & playground
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: Massey Preserve
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Massey Preserve
* 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 | $1,640 |
| EXPENSES | Loan Payment | -$1,088 |
| Property Tax | -$244 | |
| Property Insurance | -$75 | |
| HOA | -$50 | |
| Property Management Fees | -$148 | |
|
CASH FLOW
$35
|
||
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.
$295,000
PROJECTED PRICE
$1,640
PROJECTED RENT
0.56%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.33% |
| Appreciation Year (1-5) | 3.75% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 7.51% |
| Length of Stay Years | 2 |
TOTAL CASH OUT OF POCKET
INVESTMENT
$83,925
LOAN DETAILS
$1,088
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $73,750 |
| Loan Amount | $221,250 |
5.58
YEARS SAVED
$22,484
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 -
$0.67
LIST RENT PER SQFT
-
$1,767
COMP ESTIMATED VALUE -
$0.72
COMP AVG. RENT PER SQFT
Comps Range
-
3513 Cashew Drive Raleigh, 1
- 3 beds 3 baths ∙ 2,454 Sqft ∙ Built 2015 3 beds 3 baths ∙ 2,454 Sqft ∙ Built 2015
- Rent
- Rent Per SQFT
- $1,640
- $0.67
-
3932 Massey Pointe Court Raleigh, 2
- 4 beds 3 baths ∙ 2,400 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,400 Sqft ∙ Built 2017
LEASED 05/10/20- Rent
- Rent Per SQFT
- $1,650
- $0.69
-
3242 Landing Falls Lane Raleigh, 3
- 3 beds 3 baths ∙ 2,290 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,290 Sqft ∙ Built 2006
LEASED 09/16/20- Rent
- Rent Per SQFT
- $1,650
- $0.72
-
4106 White Kestrel Drive Raleigh, 4
- 3 beds 3 baths ∙ 2,208 Sqft ∙ Built 2014 3 beds 3 baths ∙ 2,208 Sqft ∙ Built 2014
LEASED 08/08/20- Rent
- Rent Per SQFT
- $1,675
- $0.76
-
3950 Massey Wood Trail Raleigh, 5
- 3 beds 3 baths ∙ 2,369 Sqft ∙ Built 2013 3 beds 3 baths ∙ 2,369 Sqft ∙ Built 2013
LEASED 09/27/19- Rent
- Rent Per SQFT
- $1,685
- $0.71
PROPERTY LISTING DETAILS
1.919.909.4210
Core Realty Advisors
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
MLS #: 2339039
Last Updated: 08/25/2020
