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3521 Dechart Lane 
Raleigh, NC
27616
3 Beds 2 Baths 1,259 sqft
Built 1994
INVESTimate
$225,000
List Price
$65,375
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PROPERTY INFO
FACTS
- Built In 1994
- Price/Sqft : $178.71
- 2 Days on Market
- MLS # : 2339166
- Updated Date : 08/26/2020 at 01:13
CONSTRUCTION
- Beds : 3
- Floor Size : 1,259 sqft
- Baths : 2 full
Listing Agent
Exp Realty Llc
Listing Agent's Description
Welcome to this one level open concept beauty. NEW ROOF, NEW PAINT, NEW FIXTURES, NEW COUNTERS & BACKSPLASH, NEW LUXURY VINYL PLANKS, and less than 3 year old AC unit! Enjoy the open concept with vaulted ceilings that leads into the dining room surround by new wainscotting. The patio in the private back yard is great for entertaining. Minutes to shopping, dining, 40, 440, & 540. Go see for yourself!
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: Neuse Crossing
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Neuse Crossing
* 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 | $1,160 |
| EXPENSES | Loan Payment | -$830 |
| Property Tax | -$166 | |
| Property Insurance | -$52 | |
| HOA | -$10 | |
| Property Management Fees | -$104 | |
|
CASH FLOW
-$2
|
||
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.
$225,000
PROJECTED PRICE
$1,160
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
$65,375
LOAN DETAILS
$830
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $56,250 |
| Loan Amount | $168,750 |
5.25
YEARS SAVED
$14,793
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,160
LIST RENT -
$0.92
LIST RENT PER SQFT
-
$1,165
COMP ESTIMATED VALUE -
$0.93
COMP AVG. RENT PER SQFT
Comps Range
-
3521 Dechart Lane Raleigh, 1
- 3 beds 2 baths ∙ 1,259 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,259 Sqft ∙ Built 1994
- Rent
- Rent Per SQFT
- $1,160
- $0.92
-
7309 Perry Creek Road Raleigh, 2
- 3 beds 2 baths ∙ 1,352 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,352 Sqft ∙ Built 1980
LEASED 10/04/19- Rent
- Rent Per SQFT
- $1,250
- $0.92
-
3704 Turnbull Court Raleigh, 3
- 3 beds 2 baths ∙ 1,420 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,420 Sqft ∙ Built 1994
LEASED 02/25/20- Rent
- Rent Per SQFT
- $1,300
- $0.92
-
7500 Brighton Hill Lane Raleigh, 4
- 3 beds 3 baths ∙ 1,399 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,399 Sqft ∙ Built 2001
LEASED 04/07/20- Rent
- Rent Per SQFT
- $1,300
- $0.93
-
3516 Casine Court Wake Forest, 5
- 3 beds 3 baths ∙ 1,485 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,485 Sqft ∙ Built 1985
LEASED 04/23/20- Rent
- Rent Per SQFT
- $1,375
- $0.93
PROPERTY LISTING DETAILS
1.919.413.0330
Exp Realty Llc
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
MLS #: 2339166
Last Updated: 08/26/2020
