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8432 Wyndridge Drive Apex, NC 27539

3 Beds 2 Baths 1,741 sqft Built 1984

$295,000

List Price

$1,540

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $169.44
  • 5 Days on Market
  • MLS # : 2354262
  • Updated Date : 11/21/2020 at 14:58
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,741 sqft
  • Baths : 2 full
Listing Agent

Howard Perry & Walston Realtor

Listing Agent's Description

Beautifully updated Cape style home with 1st Floor Master on .70 acres! Too Many updates to mention! New Flooring throughout main floor, New Carpets on second floor. Kitchen updated with New White Shaker Cabinets, New Tile Flooriing & New Appliances. New light fixtures have also been added throughout home. Bathrooms include New Tile Floors & tile accents in Showers + New Vanities. Freshly painted interior includes popcorn ceiling removal! Large private yard for the outdoor enthusiast with Shed!

SEE MORE

MARKET HIGHLIGHTS

  • 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
  • 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)

PRICE & RENT TRENDS

Neighborhood: Wynridge

NeighborhoodNIR Market*CityMarket2010Year20002019160k180k200k220k240k260k280k300k320k340k360kPrice in $151k370k

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

Neighborhood: Wynridge

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2100011001200130014001500160017001800Rent in $9661880

* 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
West Lake Elementary School Primary Regular 893 58 6
West Lake Middle School Middle Regular 1,344 77 6
Middle Creek High School High Regular 2,249 120 7

West Lake Elementary School

  • Education Level: Primary
  • # of students: 893
  • # of teachers: 58
6
GreatSchools Rating

West Lake Middle School

  • Education Level: Middle
  • # of students: 1,344
  • # of teachers: 77
6
GreatSchools Rating

Middle Creek High School

  • Education Level: High
  • # of students: 2,249
  • # of teachers: 120
7
GreatSchools Rating
 

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

PURCHASE PRICE

$1,386$1,694$1,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,540
EXPENSES Loan Payment -$1,088
Property Tax -$157
Property Insurance -$61
Property Management Fees -$139
CASH FLOW
$95

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

$1,540

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.33%
Appreciation Year (1-5) 4.4%
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

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$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 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,088

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $73,750
Loan Amount $221,250
See What Happens When You Reinvest Cash Flow

7.33

YEARS SAVED

$31,460

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,540

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,558

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,298
1$1,2982$1,5003$1,5404$1,5505$1,600
$1,600
RENT COMPS ANALYSIS
  • 8432 Wyndridge Drive Apex, NC 3
    • 3 beds 2 baths ∙ 1,741 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,741 Sqft ∙ Built 1984
    • Rent
    • Rent Per SQFT
    •  
    • $1,540
    • $0.88
    •  
  • 2737 Brantley Drive Apex, NC 1
    • 3 beds 2 baths ∙ 1,421 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,421 Sqft ∙ Built 1981
    LEASED 06/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,298
    • $0.91
    •  
  • 8305 Bells Lake Road Apex, NC 2
    • 3 beds 3 baths ∙ 1,742 Sqft ∙ Built 1974 3 beds 3 baths ∙ 1,742 Sqft ∙ Built 1974
    LEASED 01/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.86
    •  
  • 5501 Doemont Drive Apex, NC 4
    • 4 beds 3 baths ∙ 1,837 Sqft ∙ Built 1993 4 beds 3 baths ∙ 1,837 Sqft ∙ Built 1993
    LEASED 10/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.84
    •  
  • 3212 Sawyers Mill Drive Apex, NC 5
    • 3 beds 3 baths ∙ 1,650 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,650 Sqft ∙ Built 2001
    LEASED 11/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.97
    •  
PROPERTY LISTING DETAILS
Mary Kromenhoek
1.919.244.7343
Howard Perry & Walston Realtor
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2354262
Last Updated: 11/21/2020
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