633 Stream Walk Xing · Wendell, NC 27591

$357,990

5 bd · 3.0 ba · 2,368 sqft · Land · 31 Days on market

Built 2026 4,791 sqft lot $60/mo HOA · 2% of rent

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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 +7.5/15.0
• Cash flow +7.1/30.0
• Schools +4.9/10.0
• Livability +3.9/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• 1% rule +2.2/10.0
• DSCR +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks

Come see the Robie at 633 Stream Walk Crossing, Wendell, NC 27591 at Belle Grove! The Robie is a spacious two-story home showcased boasting 2,368 sq. ft. of living space, 5 bedrooms, 3 bathrooms, and a 2-car garage. The moment you step inside the home you're greeted by an inviting foyer which connects you first past the staircase, then a storage closet, before opening into the living and dining rooms, which are overlooked by the kitchen. The kitchen features stainless steel appliances, quartz countertops, a functional center island, and a corner walk-in pantry. Off the kitchen, in the back left corner of the home, is a guest bedroom and a separate full bathroom across from the guest room.

Key facts

• Inviting foyer
• Quartz countertops
• Guest bedroom

Tags

• INVITING FOYER
• STAINLESS STEEL APPLIANCES
• QUARTZ COUNTERTOPS
• FUNCTIONAL CENTER ISLAND
• CORNER WALK-IN PANTRY
• GUEST BEDROOM

Property features AI

Finance

• HOA & community: Community association managed by Charleston Management Corp.; HOA fee $60 monthly (includes grounds maintenance); Community amenities: dog park, playground, trails, park, sidewalks, street lights

Exterior

• Parking: Attached garage; 2 garage spaces; Driveway and additional open parking (2 spaces); Garage with opener, faces front; Concrete driveway
• Utilities: Public water; Public sewer; Electricity available; Cable available; Underground utilities
• Home design: Two-story house; New construction; Site-built home; Vinyl siding; Architectural shingle roof
• Construction: Built by D.R. Horton (model: Robie); Slab foundation
• Exterior features: Patio; No fencing; Lot approximately 0.11 acres; Public maintained road with asphalt surface; Community sidewalks and street lights; Park and playground nearby; Trails and dog park in community

Interior

• Kitchen: Dishwasher; Disposal; Electric range (free-standing); Microwave; Plumbed for ice maker; Stainless steel appliances
• Bedrooms: 5 bedrooms
• Flooring: Carpet; Vinyl
• Bathrooms: 3 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Open floorplan; Entrance foyer; Kitchen island; Eat-in kitchen; Pantry; Quartz counters; Double vanity; Bathtub/shower combination; Walk-in shower; Walk-in closets; Smooth ceilings; Wired for data; Smart home features (including smart thermostat); Low-emissivity windows with screens
• Laundry & utility: Laundry room on upper level; Washer hookup; Electric dryer hookup; Tankless water heater

🏗️ New construction. Builder plan / spec listing (the home may be to-be-built); metrics use comparable previous sales.

What this means for you Summary

Snapshot

• This is a 5-bed/3.0-bath land listed at $358k.

Deal economics

• At list price, monthly cash flow is $-506 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $285k (20.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $257k (28.3% below list).
• Recommended offer: $257k (28.3% below list) — sets the bar for 1% rule.
• Cap rate 4.6% vs local median 3.7% in Wendell — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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: Zebulon Elementary (math 17% / reading 27%, grade F, #1,190 of 1,410 statewide, top 86%, 561 students, 76% FRL); Zebulon Middle (math 34% / reading 43%, grade F, #244 of 475 statewide, top 53%, 708 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 69% FRL vs 30% district-wide (39 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 36% at this address vs 56% district-wide (-20 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); 827 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 15,249 units permitted in Wake County in 2024 (5,568 in 5+ unit buildings).
• This rent runs 36% 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 $11k 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

• It's been on market 31 days — a 3% lower offer ($347k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 73% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $256,646 (28.3% 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. It's been on market 31 days. Have you received any prior offers? Is the seller open to a 28% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.72% ✗
• Cap rate: 4.60%
• Cash-on-cash: -6.06%
• DSCR: 0.73
• GRM: 11.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -26.2%
• Equity multiple: 0.11×
• Total profit: $-89,155
• Equity at exit: $53,377

10-year hold

• IRR: -21.8%
• Equity multiple: -0.14×
• Total profit: $-114,576
• Equity at exit: $30,952

Cash invested: $100,237 (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 →

ZIP-level market 27591

• Home prices YoY: -28.3%
• Rents YoY: 3.4%
• Active inventory: 827
• Price-to-rent: 11.6×

Monthly cashflow live

• Estimated rent: $2,566 high
• Mortgage (P&I): −$1,877
• Tax est. 1.5%: −$447 /mo · $5,370/yr
• Insurance: −$149
• HOA: −$60
• Vacancy / Maint / Mgmt: −$539
• Net cashflow: $-506

Break-even live

Break-even rent $3,208

Max offer price $284,701

Occupancy floor —

Sensitivity live

Price	-10% $-259	-5% $-383	+0% $-506	+5% $-630	+10% $-754
Rent	-10% $-709	-5% $-608	+0% $-506	+5% $-405	+10% $-304
Rate	-1.0pp $-326	-0.5pp $-415	base $-506	+0.5pp $-599	+1.0pp $-694

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: $89,498
• Closing costs: $10,740
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
469 Willard Woods Dr Wendell, NC	4.0	2.5	1921	$2,200	$1.15	5d	1	0.57mi
316 Willard Forest Dr Wendell, NC	4.0	2.5	2000	$2,095	$1.05	25d	1	0.59mi
316 Willard Forest Dr Wendell, NC	4.0	2.5	2000	$1,995	$1.00	16d	1	0.59mi
509 Willard Woods Dr Wendell, NC	5.0	2.5	2246	$2,500	$1.11	5d	1	0.62mi
408 Deer Grove Trl Wendell, NC	4.0	2.5	2002	$2,225	$1.11	4d	1	0.85mi
238 Grovemere Ln Wendell, NC	5.0	2.5	2138	$2,260	$1.06	25d	1	0.85mi

HOA detail

• Monthly dues: $60 · $720/yr

Listing history 16 events

1. 2026-06-21
   days on market $357,990 Active 31 DOM
2. 2026-06-18
   days on market $357,990 Active 28 DOM
3. 2026-06-17
   days on market $357,990 Active 27 DOM
4. 2026-06-16
   days on market $357,990 Active 26 DOM
5. 2026-06-15
   days on market $357,990 Active 25 DOM
6. 2026-06-13
   days on market $357,990 Active 23 DOM
7. 2026-06-13
   days on market $357,990 Active 22 DOM
8. 2026-06-09
   days on market $357,990 Active 19 DOM
9. 2026-06-08
   days on market $357,990 Active 18 DOM
10. 2026-06-07
    pricedays on market $357,990 Active 17 DOM
11. 2026-06-05
    days on market $367,990 Active 14 DOM
12. 2026-06-03
    days on market $367,990 Active 13 DOM
13. 2026-06-02
    days on market $367,990 Active 12 DOM
14. 2026-06-01
    days on market $367,990 Active 11 DOM
15. 2026-05-31
    days on market $367,990 Active 10 DOM
16. 2026-05-21
    listed $372,490 Active

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥105°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 73% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,798
• − Mortgage interest: −$20,053
• − Property taxes: −$5,370
• − Insurance: −$1,790
• − Repairs & maintenance: −$2,464
• − Management: −$2,464
• − HOA: −$720
• − Depreciation: −$10,414
• Taxable loss: −$12,477
• Est. tax savings @ 24.0%: +$2,995
• After-tax cash flow: $-3,083/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.

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

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 · 1,216,256 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: 369.0

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

Price history

1 event — show timeline

• 2026-05-21 Listed $372,490 TMLS