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6733 Osprey Landing Drive Wendell, NC 27591

4 Beds 3 Baths 2,231 sqft Built 2019

$287,000

List Price

$1,630

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2019
  • Price/Sqft : $128.64
  • 7 Days on Market
  • MLS # : 2366981
  • Updated Date : 02/15/2021 at 21:29
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,231 sqft
  • Baths : 2 full , 1 half
Listing Agent

Robertson - Eddins Realty, Inc

Listing Agent's Description

Stunning home on a nice lot that backs to an access road and woods. Front porch with stone accents. Beautiful laminate floors on entire main level. Formal dining room with wainscoting; kitchen with island, granite countertops and gas stove. Stainless steel appliances. Huge storage closet. 9' ceilings on first floor. All four bedrooms have spacious walk-in closets. Master is huge with a vaulted ceiling and garden tub/separate shower. Secondary bath has double sinks. This house shows beautifully.

SEE MORE

MARKET HIGHLIGHTS

  • 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
  • #7 Best Big City for Jobs 2018 (Forbes, 2018)
  • Major employers in Raleigh area: IBM, Cisco systems, Fidelity Investments, GlaxoSmithKline, RTI International

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

 
Sorry, we do not have sufficient school data for this neighborhood.
 

$258,300$315,700$287,000

PURCHASE PRICE

$1,467$1,793$1,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,630
EXPENSES Loan Payment -$997
Property Tax -$252
Property Insurance -$71
HOA -$56
Property Management Fees -$119
CASH FLOW
$136

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.

$287,000

PROJECTED PRICE

$1,630

PROJECTED RENT

0.57%

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$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

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$81,805

INVESTMENT

$81,805

Down Payment
$71,750
Rehab Estimate
$5,750
Closing Costs
$4,305

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$997

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $71,750
Loan Amount $215,250
See What Happens When You Reinvest Cash Flow

7.75

YEARS SAVED

$28,937

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,630

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $1,495

    COMP ESTIMATED VALUE
  • $0.67

    COMP AVG. RENT PER SQFT
Comps Range
$1,630
1$1,6302$1,695
$1,695
RENT COMPS ANALYSIS
  • 6733 Osprey Landing Drive Wendell, NC 1
    • 4 beds 3 baths ∙ 2,231 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,231 Sqft ∙ Built 2019
    • Rent
    • Rent Per SQFT
    •  
    • $1,630
    • $0.73
    •  
  • 1249 Turkey Trot Road Wendell, NC 2
    • 4 beds 4 baths ∙ 2,546 Sqft ∙ Built 2019 4 beds 4 baths ∙ 2,546 Sqft ∙ Built 2019
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.67
    •  
PROPERTY LISTING DETAILS
Bonnie White
1.919.616.3998
Robertson - Eddins Realty, Inc
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2366981
Last Updated: 02/15/2021
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