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

1121 Raven Perch Drive Wendell, NC 27591

3 Beds 3 Baths 2,278 sqft Built 2015

$288,000

List Price

$1,540

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $126.43
  • 2 Days on Market
  • MLS # : 2373195
  • Updated Date : 03/20/2021 at 20:22
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,278 sqft
  • Baths : 2 full , 1 half
Listing Agent

Phi Jacobs Real Estate

Listing Agent's Description

Meticulously maintained home. Move in Ready!!Home boasts open flr plan & formal dining rm. Chefs kitchen updated w/stainless steel appliances.Luxury vinyl wood flooring on first flr. Flat back yard. Master Bdr. features vaulted ceilings.Luxurious spa bathroom w/garden tub and shower separate. Huge walk-in closet. All bedrooms incl.walk- in closets. Wonderful loft on second flr. Community pool, play ground & walking trail around pond. Perfectly located 20 Minutes to Raleigh, 540,440,40 Hwy. Welcome home!

SEE MORE

MARKET HIGHLIGHTS

  • #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)
  • 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

PRICE & RENT TRENDS

Neighborhood: Edgemont Landing

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $107k268k

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

Neighborhood: Edgemont Landing

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q29001000110012001300140015001600Rent in $8231626

* 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
Carver Elementary School Primary Regular 469 34 5
Wendell Middle School Middle Regular 973 59 2
East Wake High School High Unknown NA

Carver Elementary School

  • Education Level: Primary
  • # of students: 469
  • # of teachers: 34
5
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
 

$259,200$316,800$288,000

PURCHASE PRICE

$1,386$1,694$1,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,540
EXPENSES Loan Payment -$1,000
Property Tax -$248
Property Insurance -$72
HOA -$56
Property Management Fees -$119
CASH FLOW
$45

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.

$288,000

PROJECTED PRICE

$1,540

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 6.2%
Maintenance Year (1-5) 8.00%
Vacancy 7.47%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,070

INVESTMENT

$82,070

Down Payment
$72,000
Rehab Estimate
$5,750
Closing Costs
$4,320

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,000

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $72,000
Loan Amount $216,000
See What Happens When You Reinvest Cash Flow

6.25

YEARS SAVED

$20,490

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,540

    LIST RENT
  • $0.68

    LIST RENT PER SQFT
  • $1,526

    COMP ESTIMATED VALUE
  • $0.67

    COMP AVG. RENT PER SQFT
Comps Range
$1,540
1$1,5402$1,695
$1,695
RENT COMPS ANALYSIS
  • 1121 Raven Perch Drive Wendell, NC 1
    • 3 beds 3 baths ∙ 2,278 Sqft ∙ Built 2015 3 beds 3 baths ∙ 2,278 Sqft ∙ Built 2015
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,540
    • $0.68
    •  
  • 1249 Turkey Trot Road Wendell, NC 2
    • 4 beds 4 baths ∙ 2,546 Sqft ∙ Built 2019 4 beds 4 baths ∙ 2,546 Sqft ∙ Built 2019
    property image
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.67
    •  
PROPERTY LISTING DETAILS
Phi Jacobs
1.919.539.4304
Phi Jacobs Real Estate
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2373195
Last Updated: 03/20/2021
BESbswy