2720 Nc-97 · Wendell, NC 27591

$265,000

3 bd · 1.5 ba · 1,040 sqft · SingleFamily public records · 52 Days on market

Built 1980 0.46 ac lot

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Why this score? — see what drove the D 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).

• Cash flow +12.5/30.0
• ARV discount +7.5/15.0
• Schools +4.9/10.0
• Livability +3.9/5.0
• DSCR +3.7/10.0
• Rent growth +3.4/5.0
• 1% rule +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great Location!! 3 bed 1.5 bath home on . 46 ac lot with large fenced in rear yard! On Community water!

Key facts

• New siding
• Room for a boat
• New gutters

Tags

• FENCED-IN BACKYARD
• ROOM FOR A BOAT
• ROOM FOR TRAILER
• ROOM FOR RV
• NEW SIDING
• NEW GUTTERS

Property features AI

Finance

• HOA & community: No homeowners association

Exterior

• Utilities: Community water; Septic tank
• Home design: Single-story house (one level)
• Construction: Vinyl siding construction
• Exterior features: Back yard with chain link fencing; Shingle roof; Brick/mortar foundation

Interior

• Kitchen: Standard kitchen with oven and refrigerator
• Bedrooms: 3 bedrooms (all on the main level)
• Flooring: Luxury vinyl flooring
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Heat pump heating; Central air conditioning
• Interior features: Oven; Refrigerator
• Laundry & utility: Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $265k.

Deal economics

• At list price, monthly cash flow is $-37 ($-442/yr) — negative.
• To cash-flow at today's rent, offer at most $258k (2.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $200k (24.5% below list).
• Recommended offer: $200k (24.5% below list) — sets the bar for 1% rule.
• Cap rate 6.1% vs local median 3.7% in Wendell — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

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: Wakelon Elementary (math 15% / reading 32%, grade F, #1,160 of 1,410 statewide, top 83%, 578 students, 72% 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 67% FRL vs 30% district-wide (37 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); 822 active listings in the ZIP; solid renter incomes; 15,249 units permitted in Wake County in 2024 (5,568 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k 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 52 days — a 3% lower offer ($257k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y ago; this cycle's ask has dropped $15k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $215k; 23% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 59% 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 $199,985 (24.5% 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 52 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
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: 0.75% ✗
• Cap rate: 6.13%
• Cash-on-cash: -0.60%
• DSCR: 0.97
• GRM: 11.0

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: -16.9%
• Equity multiple: 0.40×
• Total profit: $-44,580
• Equity at exit: $39,512

10-year hold

• IRR: -8.3%
• Equity multiple: 0.48×
• Total profit: $-38,910
• Equity at exit: $22,912

Cash invested: $74,200 (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: 822
• Price-to-rent: 11.0×

Monthly cashflow live

• Estimated rent: $2,000 medium
• Mortgage (P&I): −$1,390
• Tax from tax record: −$117 /mo · $1,399/yr
• Insurance: −$110
• HOA: −$0
• Vacancy / Maint / Mgmt: −$420
• Net cashflow: $-37

Break-even live

Break-even rent $2,046

Max offer price $258,495

Occupancy floor 97%

Sensitivity live

Price	-10% $113	-5% $38	+0% $-37	+5% $-112	+10% $-187
Rent	-10% $-195	-5% $-116	+0% $-37	+5% $42	+10% $121
Rate	-1.0pp $97	-0.5pp $31	base $-37	+0.5pp $-105	+1.0pp $-175

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: $66,250
• Closing costs: $7,950
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-18
   days on market $265,000 Active 52 DOM
2. 2026-06-17
   days on market $265,000 Active 51 DOM
3. 2026-06-16
   days on market $265,000 Active 50 DOM
4. 2026-06-15
   days on market $265,000 Active 49 DOM
5. 2026-06-13
   days on market $265,000 Active 47 DOM
6. 2026-06-13
   days on market $265,000 Active 46 DOM
7. 2026-06-09
   days on market $265,000 Active 43 DOM
8. 2026-06-08
   days on market $265,000 Active 42 DOM
9. 2026-06-07
   days on market $265,000 Active 41 DOM
10. 2026-06-05
    days on market $265,000 Active 38 DOM
11. 2026-06-03
    days on market $265,000 Active 37 DOM
12. 2026-06-02
    days on market $265,000 Active 36 DOM
13. 2026-06-01
    days on market $265,000 Active 35 DOM
14. 2026-05-31
    days on market $265,000 Active 34 DOM
15. 2026-05-03
    price $265,000
16. 2026-04-27
    listed $279,999 Active
17. 2023-05-03
    soldstatus $215,000 Closed 103-char remark

    Show marketing remark (103 chars)

    Great Location!! 3 bed 1.5 bath home on . 46 ac lot with large fenced in rear yard! On Community water!

18. 2023-05-03
    soldstatus $215,000

    Show marketing remark (103 chars)

    Great Location!! 3 bed 1.5 bath home on . 46 ac lot with large fenced in rear yard! On Community water!

19. 2023-04-12
    status Pending 103-char remark

    Show marketing remark (103 chars)

    Great Location!! 3 bed 1.5 bath home on . 46 ac lot with large fenced in rear yard! On Community water!

20. 2023-03-31
    listed $230,000 Active 103-char remark

    Show marketing remark (103 chars)

    Great Location!! 3 bed 1.5 bath home on . 46 ac lot with large fenced in rear yard! On Community water!

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

Tax reassessment forecast NC · Resets to sale price

• Current annual tax: $1,399 · $117/mo
• Projected year-2 tax: $2,173 · $181/mo
• Expected delta: +$774/yr (+$64/mo · 55.3%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥105°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 59% 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: $23,998
• − Mortgage interest: −$14,844
• − Property taxes: −$1,399
• − Insurance: −$1,325
• − Repairs & maintenance: −$1,920
• − Management: −$1,920
• − Depreciation: −$7,709
• Taxable loss: −$5,119
• Est. tax savings @ 24.0%: +$1,229
• After-tax cash flow: $787/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

• 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

+15.2% since first listed

6 events — show timeline

• 2026-05-03 Price Changed $265,000 TMLS
• 2026-04-27 Listed $279,999 TMLS
• 2023-05-03 Sold (Public Records) $215,000 Public Records
• 2023-05-03 Sold (MLS) $215,000 TMLS
• 2023-04-12 Pending — TMLS
• 2023-03-31 Listed $230,000 TMLS

Property tax history

+11.6%/yr

Latest (2025): $1,399 · +3.0% YoY. Source: county tax records.