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612 S Kennelman Circle Wendell, NC 27591

3 Beds 3 Baths 1,711 sqft Built 2017

$258,000

List Price

$1,500

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $150.79
  • 2 Days on Market
  • MLS # : 2356579
  • Updated Date : 12/05/2020 at 20:43
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,711 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty Wake

Listing Agent's Description

Like new, beautiful 3 bed, 2.5 bath 1700+ sq ft home with garage turned into the ultimate game room or family room. Only minutes from Wendell or a short drive to Wake Forest or Raleigh, this home is the perfect home for the family to enjoy friends and family game night in the converted garage. Since you can't go out to the sporting events, bring them to your new home and enjoy with family while staying safe. New backyard shed for storage or a workshop. Home appears hardly lived in and ready for you.

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

Neighborhood: Foxborough Crossing

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $112k265k

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

Neighborhood: Foxborough Crossing

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q29001000110012001300140015001600Rent in $8571649

* 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
 

$232,200$283,800$258,000

PURCHASE PRICE

$1,350$1,650$1,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,500
EXPENSES Loan Payment -$952
Property Tax -$227
Property Insurance -$61
HOA -$28
Property Management Fees -$119
CASH FLOW
$114

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.

$258,000

PROJECTED PRICE

$1,500

PROJECTED RENT

0.58%

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$200k$400k$600k$800k

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,120

INVESTMENT

$74,120

Down Payment
$64,500
Rehab Estimate
$5,750
Closing Costs
$3,870

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$952

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $64,500
Loan Amount $193,500
See What Happens When You Reinvest Cash Flow

7.83

YEARS SAVED

$30,667

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,500

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,437

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,6003$1,725
$1,725
RENT COMPS ANALYSIS
  • 612 S Kennelman Circle Wendell, NC 1
    • 3 beds 3 baths ∙ 1,711 Sqft ∙ Built 2017 3 beds 3 baths ∙ 1,711 Sqft ∙ Built 2017
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.88
    •  
  • 61 Wood Green Drive Wendell, NC 2
    • 4 beds 3 baths ∙ 1,954 Sqft ∙ Built 2015 4 beds 3 baths ∙ 1,954 Sqft ∙ Built 2015
    property image
    LEASED 07/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.82
    •  
  • 1904 Cypress Cove Drive Wendell, NC 3
    • 3 beds 3 baths ∙ 1,999 Sqft ∙ Built 2019 3 beds 3 baths ∙ 1,999 Sqft ∙ Built 2019
    property image
    LEASED 03/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.86
    •  
PROPERTY LISTING DETAILS
James Myers
1.919.980.1866
Keller Williams Realty Wake
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2356579
Last Updated: 12/05/2020
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