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945 Skinner Drive Raleigh, NC 27610

3 Beds 2 Baths 1,144 sqft Built 2016

INVESTimate

$155,000

List Price

$880

$792 - $968

Rent Est.

$46,825

Investment Est.

$165,881 ( +7.02%) 1 YR EST. FORECAST

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1 YEAR
Gross Yield	6.81%
NOI	$5,768

15 YEAR
Yield	5.61%
Appreciation	3.99%
TOTAL RETURN	21.95%

PROPERTY INFO

FACTS

Built In 2016
Price/Sqft : $135.49
16 Days on Market
MLS # : 2338536
Updated Date : 08/26/2020 at 02:30

CONSTRUCTION

Beds : 3
Floor Size : 1,144 sqft
Baths : 2 full

Listing Agent

Keller Williams Preferred Realty

Listing Agent's Description

Adorable 3BED 2BATH ranch style home within minutes from downtown! 16x20 shed

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945 Skinner Dr

Raleigh, North Carolina

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MARKET HIGHLIGHTS

Raleigh Market Report

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)

Neighborhood: Crosstowne

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

Neighborhood: Crosstowne

* 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
Timber Drive Elementary School	Primary	Regular	669	46	2
Lufkin Road Middle School	Middle	Regular	1,000	57	8
Southeast Raleigh High School	High	Magnet	1,538	110	4

Timber Drive Elementary School

Education Level: Primary
# of students: 669
# of teachers: 46

GreatSchools Rating

Lufkin Road Middle School

Education Level: Middle
# of students: 1,000
# of teachers: 57

GreatSchools Rating

Southeast Raleigh High School

Education Level: High
# of students: 1,538
# of teachers: 110

GreatSchools Rating

FINANCIALS

Learn how to read this

$139,500$170,50000$155,000

PURCHASE PRICE

$792$96800$880

RENT

DOWN PAYMENT

FINANCING

OFF ON

Acquisition Concierge

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PROPERTY

Expense Inflation	%
Vacancy	%
Length of Stay
Expense Inflation	%
Vacancy	%
Length of Stay

YEAR (1-5)

Appreciation	%
Rental Growth	%
Maintenance	%

YEAR (1-5)

Appreciation	%
Rental Growth	%
Maintenance	%

YEAR (6+)

Appreciation	%
Rental Growth	%
Maintenance	%

INVESTMENT

Rehab Costs
Reinvest Cash Flow	Yes No
Interest Rate	%

INVESTMENT

Rehab Costs
Reinvest Cash Flow	Yes No
Interest Rate	%

Learn how to read this

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

Cash Flow
Appreciation
Principal

PROJECTED ANNUAL CASH FLOW

Tenant Turnover

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

Appreciation
Principal
Loan Balance

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME	Rent	$880
EXPENSES	Loan Payment	-$572
	Property Tax	-$126
	Property Insurance	-$49
	HOA	-$20
	Property Management Fees	-$79



CASH FLOW $34

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.

$155,000

PROJECTED PRICE

$880

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS
Expense Inflation	2.50%
Rental Growth Year (1-5)	3.76%
Appreciation Year (1-5)	7.02%
Maintenance Year (1-5)	8.00%
Vacancy	7.47%
Length of Stay Years	2

TOTAL CASH OUT OF POCKET

INVESTMENT

$46,825

Down Payment	$38,750
Rehab Estimate	$5,750
Closing Costs	$2,325

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$572

MONTHLY LOAN PAYMENT

30 yr

4.25%

25.00%

Down Payment

Term	30 Years
Interest	4.25%
Down Payment	$38,750
Loan Amount	$116,250

See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$11,141

INTEREST SAVED

CASH FLOW REINVESTMENT

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

$880
LIST RENT
$0.8
LIST RENT PER SQFT

$985
COMP ESTIMATED VALUE
$0.9
COMP AVG. RENT PER SQFT

Comps Range

$880

1$8802$1,1503$1,1954$1,1995$1,250

$1,250

RENT COMPS ANALYSIS

1,100
PROPERTY SQFT
$0.9
AVG RENT PER SQFT
$985
ESTIMATED VALUE
$880
LIST RENT

945 Skinner Drive Raleigh, 1

3 beds 3 baths ∙ 1,100 Sqft ∙ Built 2016 3 beds 3 baths ∙ 1,100 Sqft ∙ Built 2016
Price

Price Per SQFT

$155,000

$140.91
2834 Herndon Village Way Raleigh, 2

3 beds 3 baths ∙ 1,351 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,351 Sqft ∙ Built 2005
SOLD 04/30/20
Price

Price Per SQFT

$162,000

$119.91
938 Ujamaa Drive Raleigh, 3

3 beds 2 baths ∙ 1,236 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,236 Sqft ∙ Built 2004
SOLD 10/30/19
Price

Price Per SQFT

$172,000

$139.16
2820 Red Alder Court Raleigh, 4

3 beds 2 baths ∙ 1,334 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,334 Sqft ∙ Built 1992
SOLD 02/04/20
Price

Price Per SQFT

$180,000

$134.93
109 Quiet Refuge Lane Garner, 5

3 beds 2 baths ∙ 1,356 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,356 Sqft ∙ Built 2005
SOLD 10/28/19
Price

Price Per SQFT

$189,000

$139.38

945 Skinner Drive Raleigh, 1

3 beds 3 baths ∙ 1,100 Sqft ∙ Built 2016 3 beds 3 baths ∙ 1,100 Sqft ∙ Built 2016
Rent

Rent Per SQFT

$880

$0.80
3609 Morman Springs Lane Raleigh, 2

3 beds 2 baths ∙ 1,302 Sqft ∙ Built 2012 3 beds 2 baths ∙ 1,302 Sqft ∙ Built 2012
LEASED 07/24/19
Rent

Rent Per SQFT

$1,150

$0.88
3408 Monsieur Court Raleigh, 3

3 beds 3 baths ∙ 1,404 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,404 Sqft ∙ Built 2004
LEASED 07/29/19
Rent

Rent Per SQFT

$1,195

$0.85
725 Southgate Drive Raleigh, 4

3 beds 2 baths ∙ 1,298 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,298 Sqft ∙ Built 2001
LEASED 03/01/19
Rent

Rent Per SQFT

$1,199

$0.92
3413 Fatima Court Raleigh, 5

3 beds 2 baths ∙ 1,350 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 2006
LEASED 10/01/19
Rent

Rent Per SQFT

$1,250

$0.93

PROPERTY LISTING DETAILS

Anika Davis
1.919.235.2147
Keller Williams Preferred Realty

Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317

Triangle Multiple Listing Service ( TMLS)
MLS #: 2338536
Last Updated: 08/26/2020

945 Skinner Drive Raleigh, NC 27610

INVESTimate

$155,000

$880

$46,825

REQUEST INFO

PROPERTY INFO

FACTS

CONSTRUCTION

Listing Agent

Listing Agent's Description

MARKET HIGHLIGHTS

PRICE & RENT TRENDS

SCHOOLS

Timber Drive Elementary School

Lufkin Road Middle School

Southeast Raleigh High School

FINANCIALS

$139,500$170,50000$155,000

$792$96800$880

Acquisition Concierge

PROJECTED ACCUMULATED WEALTH

PROJECTED ANNUAL CASH FLOW

PROJECTED PROPERTY VALUE

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

$155,000

$880

0.57%

TOTAL CASH OUT OF POCKET

INVESTMENT

LOAN DETAILS

25%

$572

5.5

$11,141

$155,000

$140.91

$146,680

$133.35

COMPS RANGE

PRICE COMPS ANALYSIS

$880

$0.8

$985

$0.9

Comps Range

RENT COMPS ANALYSIS

PROPERTY LISTING DETAILS