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53 Jensen Drive Wendell, NC 27591

3 Beds 2 Baths 1,409 sqft Built 2010

$230,000

List Price

$1,260

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

December 03, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2010
  • Price/Sqft : $163.24
  • 5 Days on Market
  • MLS # : 2356022
  • Updated Date : 12/03/2020 at 15:37
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,409 sqft
  • Baths : 2 full
Listing Agent

Htr Capital Group

Listing Agent's Description

Beautifully kept home in fantastic Wendell location! This awesome home has it all, fireplace, two car garage, new paint, unfinished bonus space upstairs that already has insulation and sheetrock, new roof as of 2019, and an incredible entertaining deck. The yard is fenced and the shed in the back does convey!

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
  • 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)

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
River Dell Elementary School Primary Regular 898 51 4
Archer Lodge Middle School Middle Regular 1,058 62 4
Corinth Holders High School High Regular 1,679 91 5

River Dell Elementary School

  • Education Level: Primary
  • # of students: 898
  • # of teachers: 51
4
GreatSchools Rating

Archer Lodge Middle School

  • Education Level: Middle
  • # of students: 1,058
  • # of teachers: 62
4
GreatSchools Rating

Corinth Holders High School

  • Education Level: High
  • # of students: 1,679
  • # of teachers: 91
5
GreatSchools Rating
 

$207,000$253,000$230,000

PURCHASE PRICE

$1,134$1,386$1,260

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,260
EXPENSES Loan Payment -$849
Property Tax -$151
Property Insurance -$55
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.

$230,000

PROJECTED PRICE

$1,260

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$800k

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$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$66,700

INVESTMENT

$66,700

Down Payment
$57,500
Rehab Estimate
$5,750
Closing Costs
$3,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$849

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $57,500
Loan Amount $172,500
See What Happens When You Reinvest Cash Flow

7.75

YEARS SAVED

$27,035

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,260

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,263

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,100
1$1,1002$1,2003$1,2604$1,350
$1,350
RENT COMPS ANALYSIS
  • 53 Jensen Drive Wendell, NC 3
    • 3 beds 2 baths ∙ 1,409 Sqft ∙ Built 2010 3 beds 2 baths ∙ 1,409 Sqft ∙ Built 2010
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,260
    • $0.89
    •  
  • 104 Doe Circle Selma, NC 1
    • 3 beds 3 baths ∙ 1,576 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,576 Sqft ∙ Built 2004
    property image
    LEASED 01/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.70
    •  
  • 196 Morgan Parkway Zebulon, NC 2
    • 3 beds 2 baths ∙ 1,132 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,132 Sqft ∙ Built 1998
    property image
    LEASED 01/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $1.06
    •  
  • 107 Campen Court Clayton, NC 4
    • 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 2001
    property image
    LEASED 12/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.93
    •  
PROPERTY LISTING DETAILS
Courtney Javornik
1.630.779.9152
Htr Capital Group
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2356022
Last Updated: 12/03/2020
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