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6333 Willowdell Drive Wake Forest, NC 27587

3 Beds 3 Baths 2,383 sqft Built 2001

$295,000

List Price

$1,900

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $123.79
  • 7 Days on Market
  • MLS # : 2373492
  • Updated Date : 03/27/2021 at 20:11
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,383 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Preferred Realty

Listing Agent's Description

This Wake Forest home sits on a CUL-DE-SAC lot with beautiful hardwood trees! Features 3 bedrooms, 2.5 baths, BONUS room, breakfast area, separate dining room, gas fireplace, new roof in 2021, new dishwasher & stove in 2018, both HVACs less than 5 years old, new gas logs/ignition 4 years ago, & a new water heater in 2016. Just minutes to the Wake Forest Reservoir Soft Trails, Gateway Commons, Smith Creek Soccer Center, & Heritage Golf Course! Come check it out!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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: Willow Deer

NeighborhoodNIR Market*CityMarket2010Year20002019160k180k200k220k240k260k280k300k320k340kPrice in $153k359k

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

Neighborhood: Willow Deer

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2110012001300140015001600170018001900Rent in $10271937

* 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
Jones Dairy Elementary School Primary Regular 793 49 7
Heritage Middle School Middle Regular 1,287 73 9
Wake Forest High School High Regular 1,953 106 7

Jones Dairy Elementary School

  • Education Level: Primary
  • # of students: 793
  • # of teachers: 49
7
GreatSchools Rating

Heritage Middle School

  • Education Level: Middle
  • # of students: 1,287
  • # of teachers: 73
9
GreatSchools Rating

Wake Forest High School

  • Education Level: High
  • # of students: 1,953
  • # of teachers: 106
7
GreatSchools Rating
 

$265,500$324,500$295,000

PURCHASE PRICE

$1,710$2,090$1,900

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,900
EXPENSES Loan Payment -$1,025
Property Tax -$261
Property Insurance -$73
HOA -$10
Property Management Fees -$119
CASH FLOW
$413

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 16% of earned rent to cover both maintenance and periods of vacancy.

$295,000

PROJECTED PRICE

$1,900

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.33%
Appreciation Year (1-5) 4.1%
Maintenance Year (1-5) 8.00%
Vacancy 7.51%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k

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$83,925

INVESTMENT

$83,925

Down Payment
$73,750
Rehab Estimate
$5,750
Closing Costs
$4,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 25% down payment or higher enables the proceeds from the asset to cover all costs.

$1,025

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $73,750
Loan Amount $221,250
See What Happens When You Reinvest Cash Flow

12.83

YEARS SAVED

$60,151

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,900

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $1,922

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,8953$1,9004$1,9955$2,000
$2,000
RENT COMPS ANALYSIS
  • 6333 Willowdell Drive Wake Forest, NC 3
    • 3 beds 3 baths ∙ 2,344 Sqft ∙ Built 2001 3 beds 3 baths ∙ 2,344 Sqft ∙ Built 2001
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.81
    •  
  • 1611 Main Divide Drive Wake Forest, NC 1
    • 3 beds 4 baths ∙ 2,213 Sqft ∙ Built 2018 3 beds 4 baths ∙ 2,213 Sqft ∙ Built 2018
    property image
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.77
    •  
  • 1204 Sky Hill Place Wake Forest, NC 2
    • 3 beds 3 baths ∙ 2,370 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,370 Sqft ∙ Built 2004
    property image
    LEASED 12/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.80
    •  
  • 1108 Trentini Avenue Wake Forest, NC 4
    • 4 beds 3 baths ∙ 2,467 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,467 Sqft ∙ Built 2004
    property image
    LEASED 05/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.81
    •  
  • 1812 Austin Ridge Parkway Wake Forest, NC 5
    • 4 beds 3 baths ∙ 2,226 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,226 Sqft ∙ Built 2018
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.90
    •  
PROPERTY LISTING DETAILS
Peter Kima
1.919.609.6777
Keller Williams Preferred Realty
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2373492
Last Updated: 03/27/2021
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