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1625 Martin Pond Road Wendell, NC 27591

3 Beds 3 Baths 1,500 sqft Built 1998

$260,000

List Price

$1,380

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $173.33
  • 3 Days on Market
  • MLS # : 2373064
  • Updated Date : 03/20/2021 at 19:14
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,500 sqft
  • Baths : 2 full , 1 half
Listing Agent

Coldwell Banker Advantage

Listing Agent's Description

THIS IS IT, this beautiful home is right next to WENDELL FALLS where it's ALL happening in Wendell. Parks, restaurants, daycare, Publix and much more. NO HOA, over ONE ACRE LOT to yourself. 3 bedroom 2.5 bath recently painted inside & out. Kitchen w/pantry, family rm, dining on 1st. Roof 2019, All new plumbing 2020; New LVP on 1st floor & new carpet on 2nd floor 2020; HVAC 4 years old, whole house water filter system, new septic pump & control system 2019. Deck and fenced in backyard to enjoy evenings

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

Zip Code: 27591

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $112k265k

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

Zip Code: 27591

ZipNIR 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
Lake Myra Elementary School Primary Regular 631 46 2
Wendell Middle School Middle Regular 973 59 2
East Wake High School High Unknown NA

Lake Myra Elementary School

  • Education Level: Primary
  • # of students: 631
  • # of teachers: 46
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
 

$234,000$286,000$260,000

PURCHASE PRICE

$1,242$1,518$1,380

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,380
EXPENSES Loan Payment -$903
Property Tax -$215
Property Insurance -$56
Property Management Fees -$119
CASH FLOW
$87

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.

$260,000

PROJECTED PRICE

$1,380

PROJECTED RENT

0.53%

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$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,650

INVESTMENT

$74,650

Down Payment
$65,000
Rehab Estimate
$5,750
Closing Costs
$3,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$903

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $65,000
Loan Amount $195,000
See What Happens When You Reinvest Cash Flow

7.42

YEARS SAVED

$23,899

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,380

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,388

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,3803$1,700
$1,700
RENT COMPS ANALYSIS
  • 1625 Martin Pond Road Wendell, NC 2
    • 3 beds 3 baths ∙ 1,500 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,500 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $1,380
    • $0.92
    •  
  • 1125 Bermuda Run Knightdale, NC 1
    • 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1984
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.93
    •  
  • 1957 Big Falls Drive Wendell, NC 3
    • 3 beds 3 baths ∙ 1,841 Sqft ∙ Built 2017 3 beds 3 baths ∙ 1,841 Sqft ∙ Built 2017
    LEASED 01/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.92
    •  
PROPERTY LISTING DETAILS
Tina Hilker
1.919.344.5702
Coldwell Banker Advantage
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2373064
Last Updated: 03/20/2021
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