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

6000 Winged Willet Court Wendell, NC 27591

4 Beds 3 Baths 2,296 sqft Built 2008

$250,000

List Price

$1,490

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 04, 2020 RECENTLY ADDED
FACTS
  • Built In 2008
  • Price/Sqft : $108.89
  • 5 Days on Market
  • MLS # : 2352009
  • Updated Date : 11/04/2020 at 16:18
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,296 sqft
  • Baths : 2 full , 1 half
Listing Agent

Lisa Southern Real Estate

Listing Agent's Description

No Showings Until 11/25!

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

Neighborhood: Edgemont Landing

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $107k268k

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

Neighborhood: Edgemont Landing

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q29001000110012001300140015001600Rent in $8231626

* 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
Carver Elementary School Primary Regular 469 34 5
Wendell Middle School Middle Regular 973 59 2
East Wake High School High Regular NA

Carver Elementary School

  • Education Level: Primary
  • # of students: 469
  • # of teachers: 34
5
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
 

$225,000$275,000$250,000

PURCHASE PRICE

$1,341$1,639$1,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,490
EXPENSES Loan Payment -$922
Property Tax -$238
Property Insurance -$72
HOA -$56
Property Management Fees -$134
CASH FLOW
$67

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.

$250,000

PROJECTED PRICE

$1,490

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 6.2%
Maintenance Year (1-5) 8.00%
Vacancy 7.47%
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-$2.0k$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$72,000

INVESTMENT

$72,000

Down Payment
$62,500
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$922

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,500
Loan Amount $187,500
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$18,996

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,490

    LIST RENT
  • $0.65

    LIST RENT PER SQFT
  • $1,508

    COMP ESTIMATED VALUE
  • $0.66

    COMP AVG. RENT PER SQFT
Comps Range
$1,490
1$1,4902$1,5503$1,6504$1,695
$1,695
RENT COMPS ANALYSIS
  • 6000 Winged Willet Court Wendell, NC 1
    • 4 beds 3 baths ∙ 2,296 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,296 Sqft ∙ Built 2008
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,490
    • $0.65
    •  
  • 5893 Sandpiper Farm Lane Wendell, NC 2
    • 4 beds 3 baths ∙ 2,330 Sqft ∙ Built 2009 4 beds 3 baths ∙ 2,330 Sqft ∙ Built 2009
    property image
    LEASED 12/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.67
    •  
  • 1017 King Fisher Way Wendell, NC 3
    • 5 beds 3 baths ∙ 2,600 Sqft ∙ Built 2018 5 beds 3 baths ∙ 2,600 Sqft ∙ Built 2018
    property image
    LEASED 10/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.63
    •  
  • 1249 Turkey Trot Road Wendell, NC 4
    • 4 beds 4 baths ∙ 2,546 Sqft ∙ Built 2019 4 beds 4 baths ∙ 2,546 Sqft ∙ Built 2019
    property image
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.67
    •  
PROPERTY LISTING DETAILS
Lisa Southern
1.919.260.8607
Lisa Southern Real Estate
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2352009
Last Updated: 11/04/2020
BESbswy