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4 Jones Market Square Wendell, NC 27591

3 Beds 2 Baths 1,303 sqft Built 2000

$219,900

List Price

$1,210

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $168.76
  • 4 Days on Market
  • MLS # : 2366419
  • Updated Date : 02/12/2021 at 20:05
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,303 sqft
  • Baths : 2 full
Listing Agent

Fonville Morisey/triangle Five County Specialists Ii

Listing Agent's Description

Beautiful home in the heart of Wendell! Roof Installed in 2018, HVAC Installed in 2017, New deck boards, updated Master Bathroom and Guest Bathroom, new light fixtures and NO Carpet! This house has it all! Approximately 1 mile to Downtown Wendell and convenient to Restaurants, beverage shops, library and shopping. This one will not last long!

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

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 Unknown 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
 

$197,910$241,890$219,900

PURCHASE PRICE

$1,089$1,331$1,210

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,210
EXPENSES Loan Payment -$764
Property Tax -$198
Property Insurance -$53
Property Management Fees -$119
CASH FLOW
$77

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.

$219,900

PROJECTED PRICE

$1,210

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) 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

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$64,024

INVESTMENT

$64,024

Down Payment
$54,975
Rehab Estimate
$5,750
Closing Costs
$3,299

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$764

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $54,975
Loan Amount $164,925
See What Happens When You Reinvest Cash Flow

7.42

YEARS SAVED

$20,270

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,210

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,203

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,000
1$1,0002$1,2003$1,2104$1,295
$1,295
RENT COMPS ANALYSIS
  • 4 Jones Market Square Wendell, NC 3
    • 3 beds 2 baths ∙ 1,303 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,303 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $1,210
    • $0.93
    •  
  • 629 Raymond Drive Wendell, NC 1
    • 3 beds 2 baths ∙ 1,008 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,008 Sqft ∙ Built 1995
    LEASED 01/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,000
    • $0.99
    •  
  • 1020 Holly Pointe Drive Wendell, NC 2
    • 3 beds 2 baths ∙ 1,320 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,320 Sqft ∙ Built 1997
    LEASED 12/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.91
    •  
  • 324 Caroline Drive Wendell, NC 4
    • 3 beds 3 baths ∙ 1,481 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,481 Sqft ∙ Built 2002
    LEASED 02/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.87
    •  
PROPERTY LISTING DETAILS
Jamie Keith
1.919.669.6873
Fonville Morisey/triangle Five County Specialists Ii
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2366419
Last Updated: 02/12/2021
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