148 Traverse Mountain Dr · Wendell, NC 27591

$342,725

4 bd · 2.5 ba · 1,900 sqft · SingleFamily · 10 Days on market

Built 2026 Excellent condition 6,534 sqft lot 2-car garage $180/sqft · 7% below area Est $368k · 7% under $100/mo HOA · 4% of rent ↓ 15% since listing

---

Why this score? — see what drove the F grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• ARV discount +10.6/15.0
• Cash flow +5.6/30.0
• Condition / age +4.8/5.0
• Livability +3.9/5.0
• Schools +3.6/10.0
• Rent growth +3.4/5.0
• 1% rule +1.5/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Time to Design - Welcome to the Lily at Harpers Glen by Ryan Homes in Wendell. Customize this home with the design features and finishes that best fit your needs. This home features an open concept living space with LVP flooring, stainless steel appliances, quartz countertops, and a covered porch. All appliances are included. This home has a beautiful view of the neighborhood amenities. Located in a master planned community with resort-style amenities, this home has the best of both worlds with comfort and convenience. Enjoy a community pool, pickleball, playground, trails, and more just steps from your front door. Discover the best value in Wendell.

Key facts

• Covered porch
• Quartz countertops
• Community pool

Tags

• OPEN CONCEPT LIVING SPACE
• LVP FLOORING
• STAINLESS STEEL APPLIANCES
• QUARTZ COUNTERTOPS
• COVERED PORCH
• COMMUNITY POOL

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $343k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $-711 ($-9k/yr) — negative.
• To cash-flow at today's rent, offer at most $240k (30.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $222k (35.1% below list).
• Recommended offer: $222k (35.1% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 78/100 on livability (#25 in NC, #2,391 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, crime A; Watch: amenities D.
• Wake County Schools (suburban): math 52% / reading 60% proficiency, ranked #35 of 178 in NC (top 20%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Carver Elementary (math 22% / reading 32%, grade F, #1,033 of 1,410 statewide, top 76%, 413 students, 75% FRL); Wendell Middle (math 21% / reading 39%, grade F, #335 of 475 statewide, top 72%, 719 students, 68% FRL); East Wake High (math 51% / reading 44%, grade D, #331 of 535 statewide, top 62%, 1,646 students, 62% FRL) — zoned schools average 68% FRL vs 30% district-wide (38 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 35% at this address vs 56% district-wide (-21 pts) — the specific schools serving this property underperform the Wake County Schools average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+3.4%/yr); 1277 active listings in the ZIP; 31 comparable units currently listed for rent nearby; rentals lingering (median 58d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 52% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 15,249 units permitted in Wake County in 2024 (5,568 in 5+ unit buildings).
• This rent runs 31% of the median local income ($85k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Wake County population projected at +51% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Recommended offer $222,427 (35.1% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
6. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
7. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
8. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.65% ✗
• Cap rate: 3.80%
• Cash-on-cash: -8.89%
• DSCR: 0.60
• GRM: 12.8

CMA / ARV

• ARV (median comp): $368,288
• List price: $342,725
• Delta: -6.94%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
708 Blazer Bnd	0.24mi	4/2.5	1,900 (0%)	6mo	$359,990	$189	84
105 Traverse Mountain Dr	0.07mi	4/2.5	2,134 (+12%)	0mo	$359,990	$169	76
568 Camaro Rift Trl	0.04mi	4/2.5	2,134 (+12%)	3mo	$366,665	$172	75
525 Camero Rift Trl	0.09mi	4/2.5	2,114 (+11%)	3mo	$361,425	$171	75
116 Cavalier Rider Run	0.09mi	4/2.5	2,134 (+12%)	1mo	$352,625	$165	74
129 Cavalier Rider Run	0.12mi	4/2.5	2,134 (+12%)	3mo	$369,990	$173	72
152 Cavalier Rider Run	0.15mi	4/2.5	2,134 (+12%)	4mo	$379,490	$178	69
137 Cavalier Rider Run	0.13mi	4/2.5	2,134 (+12%)	6mo	$374,990	$176	69
108 Cavalier Rider Run	0.07mi	5/3.0 (+1)	2,134 (+12%)	3mo	$369,910	$173	67
616 Stream Walk Xing	0.37mi	3/2.5 (-1)	1,749 (-8%)	3mo	$324,000	$185	62
632 Stream Walk Xing	0.37mi	3/2.5 (-1)	1,749 (-8%)	3mo	$342,990	$196	62
518 E 3rd St	0.68mi	3/2.0 (-1)	1,633 (-14%)	5mo	$305,000	$187	33

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.4% rent growth · sell at horizon

5-year hold

• IRR: -31.6%
• Equity multiple: -0.04×
• Total profit: $-99,847
• Equity at exit: $51,101

10-year hold

• IRR: -33.3%
• Equity multiple: -0.47×
• Total profit: $-141,178
• Equity at exit: $29,633

Cash invested: $95,963 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 85 Strongly Landlord-Friendly
• State North Carolina: 85 Strongly Landlord-Friendly · R+3
• County: — inherits STATE
• City: — inherits STATE

10-day notice; preempted; landlord-favorable but court speed varies.

Methodology + full state rankings →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 40 active · 38 under contract
• Months of supply: 7.3 mo (14%/mo absorbed)
• Median asking: $345,985 ($175/sqft)
• Median days on market: 29 d
• This list price: 45% of active listings are priced below it
• ARV vs active asking: +10.6% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 27591

• Home prices YoY: -28.3%
• Rents YoY: 3.4%
• Active inventory: 1277
• Price-to-rent: 12.8×

Monthly cashflow live

• Estimated rent: $2,224 high
• Mortgage (P&I): −$1,797
• Tax est. 1.5%: −$428 /mo · $5,141/yr
• Insurance: −$143
• HOA: −$100
• Vacancy / Maint / Mgmt: −$467
• Net cashflow: $-711

Break-even live

Break-even rent $3,125

Max offer price $239,796

Occupancy floor —

Sensitivity live

Price	-10% $-474	-5% $-593	+0% $-711	+5% $-830	+10% $-948
Rent	-10% $-887	-5% $-799	+0% $-711	+5% $-623	+10% $-536
Rate	-1.0pp $-539	-0.5pp $-624	base $-711	+0.5pp $-800	+1.0pp $-890

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $85,681
• Closing costs: $10,282
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 31 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
717 Corvette View Knl Wendell, NC	3.0	2.5	1568	$1,695	$1.08	9d	1	0.10mi
625 Stream Walk Xing Unit 625 Wendell, NC	5.0	3.0	2368	$2,400	$1.01	9d	1	0.33mi
547 Stream Walk Xing Wendell, NC	3.0	2.5	1418	$1,800	$1.27	9d	1	0.34mi
38 Wood Green Dr Wendell, NC	5.0	3.0	1873	$2,395	$1.28	9d	1	0.78mi
316 Willard Forest Dr Wendell, NC	4.0	2.5	2000	$1,995	$1.00	110d	1	0.82mi
316 Willard Forest Dr Wendell, NC	4.0	2.5	2000	$2,095	$1.05	119d	1	0.82mi
469 Willard Woods Dr Wendell, NC	4.0	2.5	1921	$2,200	$1.15	99d	1	0.82mi
619 Commander Dr Wendell, NC	4.0	2.5	2289	$2,475	$1.08	6d	1	0.84mi
19 Deer Lake Trl Wendell, NC	3.0	2.0	1481	$1,910	$1.29	58d	1	0.86mi
509 Willard Woods Dr Wendell, NC	5.0	2.5	2246	$2,500	$1.11	99d	1	0.89mi
217 Hoyleholly Trce Wendell, NC	3.0	2.5	2180	$1,865	$0.86	71d	1	0.90mi
1940 Cedar Creek Dr , NC	2.0–4.0	2.5	1692	$2,725	$1.61	2d	132	0.95mi
305 Wood Green Dr Wendell, NC	3.0	2.0	1294	$1,690	$1.31	0d	1	1.08mi
238 Grovemere Ln Wendell, NC	5.0	2.5	2138	$2,260	$1.06	119d	1	1.12mi
408 Deer Grove Trl Wendell, NC	4.0	2.5	2002	$2,135	$1.07	71d	1	1.15mi
936 Sandyhill Rd Wendell, NC	5.0	2.5	2154	$2,410	$1.12	58d	1	1.18mi
1009 Fieldmere Pl Wendell, NC	4.0	2.5	2018	$2,170	$1.08	9d	1	1.19mi
1492 Rhodes Pond St Wendell, NC	4.0	3.0	1928	$2,195	$1.14	6d	1	1.28mi
804 McKenzie Park Ter Wendell, NC	3.0	2.5	1872	$1,995	$1.07	62d	1	1.28mi
804 McKenzie Park Ter Wendell, NC	3.0	2.5	1872	$1,995	$1.07	64d	1	1.28mi
1498 Rhodes Pond St Wendell, NC	3.0	2.5	1923	$2,150	$1.12	9d	1	1.28mi
1517 Rhodes Pond St Wendell, NC	3.0	2.5	1923	$1,995	$1.04	117d	1	1.32mi
1501 Rhodes Pond St Wendell, NC	3.0	2.5	1923	$2,099	$1.09	6d	1	1.32mi
1501 Rhodes Pond St Wendell, NC	3.0	2.5	1923	$2,099	$1.09	9d	1	1.32mi
839 McKenzie Park Ter Wendell, NC	3.0	2.5	1588	$1,795	$1.13	106d	1	1.35mi
840 McKenzie Park Ter Wendell, NC	3.0	2.5	1931	$1,750	$0.91	74d	1	1.37mi
851 McKenzie Park Ter Wendell, NC	3.0	2.5	1558	$1,794	$1.15	64d	1	1.38mi
228 Nepeta Dr Wendell, NC	4.0	2.5	1680	$2,090	$1.24	0d	1	1.38mi
323 Sweetbay Tree Dr Wendell, NC	3.0	2.5	1616	$1,850	$1.14	88d	1	1.40mi
337 Sweetbay Tree Dr Wendell, NC	3.0	2.5	1714	$1,895	$1.11	3d	1	1.41mi
460 Campbell Ridge Pl Wendell, NC	4.0	3.0	2577	$2,195	$0.85	9d	1	1.43mi

Property features AI

Finance

• Other: Zoning: R7
• HOA & community: Community managed by Real ManagementMonthly HOA fee of $100Community clubhouse

Exterior

• Parking: Attached 2-car garageConcrete drivewayGarage faces front
• Utilities: Public waterPublic sewer
• Home design: Site built homeTwo levelsBuilt by Ryan Homes (Lily model)
• Construction: Board & batten sidingFiber cement exteriorArchitectural shingle roofSlab foundationBuilt in 2026
• Exterior features: Covered rear porchPatioPublic maintained roadCurbsStreet lightsPlaygroundPoolDog parkPicnic area

Interior

• Kitchen: DishwasherDisposalElectric rangeMicrowaveRange hoodRefrigerator
• Bedrooms: 4 bedrooms
• Flooring: CarpetLuxury vinyl
• Bathrooms: 2 full bathrooms1 half bathroom
• Heating & cooling: Natural gas heating (zoned)Central air (zoned)
• Interior features: Kitchen islandPantryQuartz countersRecessed lightingSmart thermostatWalk-in closet(s)Walk-in shower
• Laundry & utility: WasherDryerLaundry room on upper level

HOA detail $100/mo · $1,200/yr

• Likely covers: pool

Listing history 50 events

1. 2026-09-23
   days on market $342,725 Active 10 DOM
2. 2026-09-22
   days on market $342,725 Active 9 DOM
3. 2026-09-21
   days on market $342,725 Active 8 DOM
4. 2026-09-20
   days on market $342,725 Active 7 DOM
5. 2026-09-19
   days on market $342,725 Active 6 DOM
6. 2026-09-18
   days on market $342,725 Active 5 DOM
7. 2026-09-17
   days on market $342,725 Active 4 DOM
8. 2026-09-16
   days on market $342,725 Active 3 DOM
9. 2026-09-15
   days on market $342,725 Active 2 DOM
10. 2026-09-14
    days on marketlisting id $342,725 Active 1 DOM
11. 2026-09-13
    days on market $342,725 Active 100 DOM
12. 2026-09-12
    days on market $342,725 Active 99 DOM
13. 2026-09-11
    days on market $342,725 Active 98 DOM
14. 2026-09-05
    days on market $342,725 Active 92 DOM
15. 2026-09-04
    days on market $342,725 Active 91 DOM
16. 2026-09-03
    days on market $342,725 Active 90 DOM
17. 2026-08-31
    days on market $342,725 Active 87 DOM
18. 2026-08-29
    days on market $342,725 Active 85 DOM
19. 2026-08-28
    days on market $342,725 Active 84 DOM
20. 2026-08-27
    days on market $342,725 Active 83 DOM
21. 2026-08-26
    days on market $342,725 Active 82 DOM
22. 2026-08-25
    days on market $342,725 Active 81 DOM
23. 2026-08-24
    days on market $342,725 Active 80 DOM
24. 2026-08-23
    days on market $342,725 Active 79 DOM
25. 2026-08-22
    days on market $342,725 Active 78 DOM
26. 2026-08-21
    days on market $342,725 Active 77 DOM
27. 2026-08-20
    days on market $342,725 Active 76 DOM
28. 2026-08-19
    days on market $342,725 Active 75 DOM
29. 2026-08-18
    days on market $342,725 Active 74 DOM
30. 2026-08-17
    days on market $342,725 Active 73 DOM
31. 2026-08-16
    days on market $342,725 Active 72 DOM
32. 2026-08-15
    days on market $342,725 Active 71 DOM
33. 2026-08-14
    days on market $342,725 Active 70 DOM
34. 2026-08-13
    days on market $342,725 Active 69 DOM
35. 2026-08-12
    days on market $342,725 Active 68 DOM
36. 2026-08-11
    days on market $342,725 Active 67 DOM
37. 2026-08-10
    days on market $342,725 Active 66 DOM
38. 2026-08-09
    days on market $342,725 Active 65 DOM
39. 2026-08-08
    days on market $342,725 Active 64 DOM
40. 2026-08-07
    days on market $342,725 Active 63 DOM
41. 2026-08-06
    days on market $342,725 Active 62 DOM
42. 2026-08-05
    days on market $342,725 Active 61 DOM
43. 2026-08-04
    days on market $342,725 Active 60 DOM
44. 2026-08-03
    days on market $342,725 Active 59 DOM
45. 2026-07-31
    days on market $342,725 Active 56 DOM
46. 2026-07-30
    days on market $342,725 Active 54 DOM
47. 2026-07-28
    days on market $342,725 Active 53 DOM
48. 2026-07-26
    days on market $342,725 Active 51 DOM
49. 2026-07-24
    days on market $342,725 Active 49 DOM
50. 2026-07-23
    days on market $342,725 Active 48 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $26,691
• − Mortgage interest: −$19,198
• − Property taxes: −$5,141
• − Insurance: −$1,714
• − Repairs & maintenance: −$2,135
• − Management: −$2,135
• − HOA: −$1,200
• − Depreciation: −$9,970
• Taxable loss: −$14,802
• Est. tax savings @ 24.0%: +$3,552
• After-tax cash flow: $-4,983/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Condition & rehab AI · 13 photos

Excellent 95/100 None rehab

This multi-family home is in excellent condition with modern finishes and a well-maintained exterior. It is move-in ready and would benefit from a fresh coat of paint and landscaping improvements to further enhance its value.

Value-add opportunities

• Resale Painting the exterior siding — Fresh paint can enhance curb appeal and property value ↑
• Both Landscaping improvements — Enhances curb appeal and can attract more tenants ↑

F Composite school gradezoned avg 36/100

Zoned Schools

Elementary Zebulon Elementary F NC #1,190/1,410 Nat'l #32,000/41,679 Middle Zebulon Middle F NC #244/475 Nat'l #6,453/14,009 High East Wake High D NC #331/535 Nat'l #6,282/17,239

Schools (NCES district)

• District: Wake County Schools
• NCES district ID: 3704720
• Math proficiency: 52% ▲ 2.00%
• Reading proficiency: 60% ▲ 4.00%
• Median HH income: $67,509
• Composite: 49.41/100
• National rank: #2010
• State rank: #35 of 178 in NC

B Composite livability gradescore 78/100

Livability — Wendell

• Score: 78/100
• State rank: #25
• US rank: #2391

Category grades

Amenities D Commute C+ Cost of living A Crime A Employment B+ Housing A+ Health & safety A+ User ratings D+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wendell, NC
• County: Wake County · 1,293,152 people
• City population: 29,838
• Metro: Raleigh-Cary, NC
• Population (ZIP): 29,838
• Household income: $85,224
• Rent vs Own: 20.0% rent · 80.0% own
• Severe rent burden: 4% of renters

---

Population outlook (Wake County) Hauer SSP2

• Today (2025): 1,293,152 people
• By 2030: 1,428,223 · +10.4%
• By 2040: 1,698,188 · +31.3%
• By 2050: 1,955,807 · +51.2%
• By 2075: 2,520,273 · +94.9%
• By 2100: 2,893,335 · +123.7%

---

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.66)
• Race & ethnicity: White 46% Hispanic / Latino 27% Black 22% Two or more races 11%
• Hispanic origin (detail): Mexican 14% Puerto Rican 4% Dominican 1%
• Common ancestry: Slovak 2% Serbian 2% Lithuanian 1%
• Foreign-born: 14% · Canada, Jamaica
• Languages at home: 79% English-only · Spanish 18% Tagalog/Filipino 1%

---

Political lean MEDSL · Wake

• 2024 margin: Strong D (+25.5) · D 61.9% · R 36.4% · Other 1.7%
• 2008→2024 swing: +11.1pp toward D · 2008: 14.4pp · 2024: 25.5pp
• All cycles: 2024: D+25.5 2020: D+26.4 2016: D+20.5 2012: D+10.2 2008: D+14.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -92.20%
• Current HPI: 233.2846
• Rent YoY: ▲ 3.40%
• Metro: Raleigh-Cary, NC
• State GDP YoY: ▲ 3.28%
• F500 in state: 26

---

Industry mix (Fortune 500 HQ in NC)

Industry	F500 HQs	Revenue
▸Financial Services	2	$213B
▸Retail	2	$95B
▸Industrial Conglomerate	1	$38B
▸Metals / Steel	1	$35B
▸Utilities	1	$30B
▸Industrial Machinery	1	$19B

Property features AI

Finance

• Other: Zoning: R7
• HOA & community: Community managed by Real ManagementMonthly HOA fee of $100Community clubhouse

Exterior

• Parking: Attached 2-car garageConcrete drivewayGarage faces front
• Utilities: Public waterPublic sewer
• Home design: Site built homeTwo levelsBuilt by Ryan Homes (Lily model)
• Construction: Board & batten sidingFiber cement exteriorArchitectural shingle roofSlab foundationBuilt in 2026
• Exterior features: Covered rear porchPatioPublic maintained roadCurbsStreet lightsPlaygroundPoolDog parkPicnic area

Interior

• Kitchen: DishwasherDisposalElectric rangeMicrowaveRange hoodRefrigerator
• Bedrooms: 4 bedrooms
• Flooring: CarpetLuxury vinyl
• Bathrooms: 2 full bathrooms1 half bathroom
• Heating & cooling: Natural gas heating (zoned)Central air (zoned)
• Interior features: Kitchen islandPantryQuartz countersRecessed lightingSmart thermostatWalk-in closet(s)Walk-in shower
• Laundry & utility: WasherDryerLaundry room on upper level

Price history

-14.6% since first listed

5 events — show timeline

• 2026-09-13 Listing Removed — TMLS
• 2026-07-30 Listed $342,725 TMLS
• 2026-06-05 Listed $342,725 TMLS
• 2025-09-03 Listing Removed — TMLS
• 2025-07-17 Listed $401,390 TMLS