Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

10 W Canterbury Court Wendell, NC 27591

3 Beds 3 Baths 1,519 sqft Built 1984

$220,000

List Price

$1,290

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
December 08, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $144.83
  • 7 Days on Market
  • MLS # : 2356880
  • Updated Date : 12/08/2020 at 16:50
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,519 sqft
  • Baths : 2 full , 1 half
Listing Agent

Fonville Morisey/midtown Sales Office

Listing Agent's Description

SHOWINGS BEGIN 1/1/21. Photos & disclosures to be uploaded 12/31. Charming 3 BD/2 BA Home on 1/2 Acre Culdesac Lot w/ Rocking Chair Front Porch in Wendell's Coveted Deerfield Square Subdiv. Near Downtown Wendell. Hardwood Floors UP and DOWN. Updated Kitchen w/ Granite Countertop, Newer Appliances, & Maple Cabinets. Updated Baths. Maintenance free vinyl siding; new windows 2017. Heating/Air Systems Under 3 Yrs. Old. Large deck and flat lot w/ detached storage.

SEE MORE

MARKET HIGHLIGHTS

  • 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: Deerfield

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $112k265k

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

Neighborhood: Deerfield

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2900100011001200130014001500Rent in $8571595

* 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
Wendell Elementary School Primary Magnet 459 34 2
Wendell Middle School Middle Regular 973 59 2
East Wake High School High Regular NA

Wendell Elementary School

  • Education Level: Primary
  • # of students: 459
  • # of teachers: 34
2
GreatSchools Rating

Wendell Middle School

  • Education Level: Middle
  • # of students: 973
  • # of teachers: 59
2
GreatSchools Rating

East Wake High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$198,000$242,000$220,000

PURCHASE PRICE

$1,161$1,419$1,290

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,290
EXPENSES Loan Payment -$812
Property Tax -$184
Property Insurance -$57
Property Management Fees -$119
CASH FLOW
$118

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.

$220,000

PROJECTED PRICE

$1,290

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 6.2%
Maintenance Year (1-5) 8.00%
Vacancy 7.49%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$64,050

INVESTMENT

$64,050

Down Payment
$55,000
Rehab Estimate
$5,750
Closing Costs
$3,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$812

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $55,000
Loan Amount $165,000
See What Happens When You Reinvest Cash Flow

8.5

YEARS SAVED

$28,971

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,290

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,357

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,200
1$1,2002$1,2903$1,2954$1,350
$1,350
RENT COMPS ANALYSIS
  • 10 W Canterbury Court Wendell, NC 2
    • 3 beds 3 baths ∙ 1,519 Sqft ∙ Built 1984 3 beds 3 baths ∙ 1,519 Sqft ∙ Built 1984
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,290
    • $0.85
    •  
  • 1020 Holly Pointe Drive Wendell, NC 1
    • 3 beds 2 baths ∙ 1,320 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,320 Sqft ∙ Built 1997
    property image
    LEASED 12/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.91
    •  
  • 324 Caroline Drive Wendell, NC 3
    • 3 beds 3 baths ∙ 1,481 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,481 Sqft ∙ Built 2002
    property image
    LEASED 02/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.87
    •  
  • 402 Cedarmere Drive Wendell, NC 4
    • 3 beds 3 baths ∙ 1,500 Sqft ∙ Built 1992 3 beds 3 baths ∙ 1,500 Sqft ∙ Built 1992
    property image
    LEASED 06/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.90
    •  
PROPERTY LISTING DETAILS
Debbie Holoman
1.919.274.5110
Fonville Morisey/midtown Sales Office
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2356880
Last Updated: 12/08/2020
BESbswy