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313 Todd Hill Drive #24 Wendell, NC 27591

3 Beds 3 Baths 2,069 sqft Built 2020

$285,000

List Price

$1,360

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $137.75
  • 3 Days on Market
  • MLS # : 2366574
  • Updated Date : 02/12/2021 at 20:57
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,069 sqft
  • Baths : 2 full , 1 half
Listing Agent

Tls Realty

Listing Agent's Description

FORMER MODEL ready for you! Gorgeous 3BR/2.5BTH convenient to the many offerings of Wendell and Raleigh! Nicely appointed throughout and with spacious features! Open Living Space with Kitchen overlooking Dining and Great Room! Private Study offers a quiet work space! Second Floor Owner's Suite is a dream with huge walk in closet and en suite bath! Sizable secondary bedrooms and Bonus Room!

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
  • Major employers in Raleigh area: IBM, Cisco systems, Fidelity Investments, GlaxoSmithKline, RTI International
  • #7 Best Big City for Jobs 2018 (Forbes, 2018)
  • 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

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
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
 

$256,500$313,500$285,000

PURCHASE PRICE

$1,224$1,496$1,360

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,360
EXPENSES Loan Payment -$990
Property Tax -$235
Property Insurance -$49
HOA -$55
Property Management Fees -$119
CASH FLOW
-$88

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.

$285,000

PROJECTED PRICE

$1,360

PROJECTED RENT

0.48%

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$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

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

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$77,525

INVESTMENT

$77,525

Down Payment
$71,250
Rehab Estimate
$2,000
Closing Costs
$4,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$990

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $71,250
Loan Amount $213,750
See What Happens When You Reinvest Cash Flow

3.92

YEARS SAVED

$10,347

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,360

    LIST RENT
  • $1.21

    LIST RENT PER SQFT
  • $1,359

    COMP ESTIMATED VALUE
  • $1.21

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,3603$1,425
$1,425
RENT COMPS ANALYSIS
  • 313 Todd Hill Drive Wendell, NC 2
    • 3 beds 3 baths ∙ 1,128 Sqft ∙ Built 2020 3 beds 3 baths ∙ 1,128 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,360
    • $1.21
    •  
  • 2022 Compacta Drive Wendell, NC 1
    • 3 beds 2 baths ∙ 1,011 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,011 Sqft ∙ Built 2001
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $1.29
    •  
  • 6729 Nesting Eagle Drive Wendell, NC 3
    • 3 beds 2 baths ∙ 1,272 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,272 Sqft ∙ Built 2005
    LEASED 07/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $1.12
    •  
PROPERTY LISTING DETAILS
John Seabeck
1.980.313.3321
Tls Realty
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2366574
Last Updated: 02/12/2021
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