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

275 Daniel Ridge Road #1251 Wendell, NC 27591

3 Beds 3 Baths 1,724 sqft Built 2021

$298,000

List Price

$1,640

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
December 06, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $172.85
  • 2 Days on Market
  • MLS # : 2356603
  • Updated Date : 12/06/2020 at 01:06
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,724 sqft
  • Baths : 2 full , 1 half
Listing Agent

Garman Homes Llc

Listing Agent's Description

The kitchen's the focal point of this home with stunning all white cabinets, oversized center island, & quartz countertops. Cozy chic lighting adds visual interest. A pocket office upstairs is perfect for those who work from home, or anyone who would like a craft space or place to pay bills. Secondary bedrooms have sizable closets and a jack n jill bath! 2 Car garage and a front porch overlooking the neighborhood sunsets! Walking distance to the Farmhouse & Amenities!! **Home has not started Framing!!!

SEE MORE

MARKET HIGHLIGHTS

  • Major employers in Raleigh area: IBM, Cisco systems, Fidelity Investments, GlaxoSmithKline, RTI International
  • One of Top 10 cities for Small Business Friendliness (Thumbtack, 2018)
  • #7 Best Big City for Jobs 2018 (Forbes, 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 Regular 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
 

$268,200$327,800$298,000

PURCHASE PRICE

$1,476$1,804$1,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,640
EXPENSES Loan Payment -$1,099
Property Tax -$246
Property Insurance -$61
HOA -$100
Property Management Fees -$119
CASH FLOW
$15

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$298,000

PROJECTED PRICE

$1,640

PROJECTED RENT

0.55%

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) 3.00%
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$1.0M

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$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$80,970

INVESTMENT

$80,970

Down Payment
$74,500
Rehab Estimate
$2,000
Closing Costs
$4,470

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,099

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $74,500
Loan Amount $223,500
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$22,413

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,640

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,633

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,6403$1,7004$1,7955$1,800
$1,800
RENT COMPS ANALYSIS
  • 275 Daniel Ridge Road Wendell, NC 2
    • 3 beds 3 baths ∙ 1,724 Sqft ∙ Built 2021 3 beds 3 baths ∙ 1,724 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $1,640
    • $0.95
    •  
  • 943 Troubadour Lane Knightdale, NC 1
    • 3 beds 3 baths ∙ 1,440 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,440 Sqft ∙ Built 2003
    LEASED 11/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.97
    •  
  • 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
    •  
  • 212 Big Barn Drive Wendell, NC 4
    • 3 beds 2 baths ∙ 1,839 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,839 Sqft ∙ Built 2020
    LEASED 11/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.98
    •  
  • 1956 Big Falls Drive Wendell, NC 5
    • 3 beds 3 baths ∙ 1,950 Sqft ∙ Built 2017 3 beds 3 baths ∙ 1,950 Sqft ∙ Built 2017
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.92
    •  
PROPERTY LISTING DETAILS
Danica Kuplin Amanchukwu
1.919.827.3479
Garman Homes Llc
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2356603
Last Updated: 12/06/2020
BESbswy