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917 Old Zebulon Road Wendell, NC 27591

3 Beds 2 Baths 1,067 sqft Built 1988

$224,900

List Price

$1,230

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $210.78
  • 2 Days on Market
  • MLS # : 2395124
  • Updated Date : 07/12/2021 at 14:52
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,067 sqft
  • Baths : 2 full
Listing Agent

Howard Perry & Walston Realtor

Listing Agent's Description

Wow - check out this amazing split-plan RANCH that has been gorgeously updated! Situated on a large lot with lots of privacy, you will want to call this home the moment you visit. Features a large living room with cathedral ceilings, completely updated kitchen with granite counters and stainless steel appliances. Freshly painted with brand new LVP flooring throughout the house. Bathrooms also include newly installed granite counters! Large rear deck perfect for entertaining. Hurry - will go fast!

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: Northwinds

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $81k265k

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

Neighborhood: Northwinds

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2800900100011001200130014001500Rent in $7281595

* 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
 

$202,410$247,390$224,900

PURCHASE PRICE

$1,107$1,353$1,230

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,230
EXPENSES Loan Payment -$781
Property Tax -$189
Property Insurance -$48
Property Management Fees -$119
CASH FLOW
$93

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.

$224,900

PROJECTED PRICE

$1,230

PROJECTED RENT

0.55%

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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$65,349

INVESTMENT

$65,349

Down Payment
$56,225
Rehab Estimate
$5,750
Closing Costs
$3,374

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$781

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $56,225
Loan Amount $168,675
See What Happens When You Reinvest Cash Flow

7.67

YEARS SAVED

$22,322

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,230

    LIST RENT
  • $1.15

    LIST RENT PER SQFT
  • $1,083

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,000
1$1,0002$1,2303$1,275
$1,275
RENT COMPS ANALYSIS
  • 917 Old Zebulon Road Wendell, NC 2
    • 3 beds 2 baths ∙ 1,067 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,067 Sqft ∙ Built 1988
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,230
    • $1.15
    •  
  • 629 Raymond Drive Wendell, NC 1
    • 3 beds 2 baths ∙ 1,008 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,008 Sqft ∙ Built 1995
    property image
    LEASED 01/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,000
    • $0.99
    •  
  • 1206 Azalea Drive Zebulon, NC 3
    • 3 beds 2 baths ∙ 1,225 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,225 Sqft ∙ Built 1996
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,275
    • $1.04
    •  
PROPERTY LISTING DETAILS
Jennifer Lange
Howard Perry & Walston Realtor
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2395124
Last Updated: 07/12/2021
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