619 Industrial Dr · Wendell, NC 27591

$269,900

3 bd · 2.0 ba · 1,140 sqft · SingleFamily public records · 39 Days on market

Built 1998 7,840 sqft lot Est $288k · 6% under

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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 +11.6/30.0
• ARV discount +10.4/15.0
• Schools +4.9/10.0
• Livability +3.9/5.0
• DSCR +3.4/10.0
• Rent growth +3.4/5.0
• 1% rule +2.8/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Convenient location in a quiet neighborhood. Like new 1-story house, 3 bedrooms, 2 baths, built in 1998. Remodeled, new paint, new carpet, new stove, new range hood, new dishwasher, new AC/heat pump. Ceramic floor in kitchen & living room. Ceiling fans in all rooms. Mini blinds on all windows. Huge deck 17x23. Price drop to $80,000, significantly below market for quick sale.

Key facts

• Large deck
• Renovated kitchen
• Updated bathrooms

Tags

• CORNER LOT
• RENOVATED KITCHEN
• GRANITE COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• LARGE DECK
• UPDATED BATHROOMS

Property features AI

Finance

• HOA & community: No association

Exterior

• Parking: Open parking for 2 vehicles; Driveway with concrete surface
• Utilities: Public water; Public sewer
• Home design: Single-story house
• Construction: Vinyl siding; Shingle roof; Crawl space basement; Structure type: House; Built area approximately 1,149 (above grade)
• Exterior features: Rain gutters; Lot approximately 0.18 acres; Publicly maintained road access

Interior

• Kitchen: Granite counters; Pantry
• Bedrooms: 3 bedrooms (all on the main level)
• Flooring: Laminate flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Heat pump; Central air conditioning
• Interior features: Ceiling fans; Granite counters; Pantry; Walk-in closets; Insulated windows

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $270k.

Deal economics

• At list price, monthly cash flow is $-86 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $255k (5.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $211k (21.9% below list).
• Recommended offer: $211k (21.9% below list) — sets the bar for 1% rule.
• Cap rate 5.9% 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: 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 65% FRL vs 30% district-wide (35 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 39% at this address vs 56% district-wide (-17 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; 2 comparable units currently listed for rent nearby; 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 39 days — a 3% lower offer ($262k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 14y ago; this cycle's ask is 14903% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $195k; 38% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 66% 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 $210,771 (21.9% 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 39 days. Have you received any prior offers? Is the seller open to a 22% 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: 0.78% ✗
• Cap rate: 5.91%
• Cash-on-cash: -1.36%
• DSCR: 0.94
• GRM: 10.7

CMA / ARV

• ARV (on-the-fly): $288,420
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
404 W 3rd St	0.48mi	3/1.5	1,017 (-11%)	16mo	$257,000	$253	45

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: -18.2%
• Equity multiple: 0.36×
• Total profit: $-48,396
• Equity at exit: $40,243

10-year hold

• IRR: -9.7%
• Equity multiple: 0.39×
• Total profit: $-45,823
• Equity at exit: $23,336

Cash invested: $75,572 (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: 10.7×

Monthly cashflow live

• Estimated rent: $2,108 medium
• Mortgage (P&I): −$1,415
• Tax from tax record: −$223 /mo · $2,678/yr
• Insurance: −$112
• HOA: −$0
• Vacancy / Maint / Mgmt: −$443
• Net cashflow: $-86

Break-even live

Break-even rent $2,216

Max offer price $254,718

Occupancy floor 99%

Sensitivity live

Price	-10% $67	-5% $-10	+0% $-86	+5% $-162	+10% $-239
Rent	-10% $-252	-5% $-169	+0% $-86	+5% $-3	+10% $81
Rate	-1.0pp $50	-0.5pp $-17	base $-86	+0.5pp $-156	+1.0pp $-227

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: $67,475
• Closing costs: $8,097
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
124 Goodwin Farm Rd Wendell, NC	3.0–4.0	2.5	1850	$2,030	$1.10	4d	9	0.99mi
138 Grange Dr Unit TW5 1 Wendell, NC	3.0	1.5	1008	$1,300	$1.29	25d	1	1.40mi

Listing history 21 events

1. 2026-05-03
   status Pending
2. 2026-04-28
   status Active
3. 2026-04-17
   historical $1,799
4. 2026-04-15
   status Pending
5. 2026-04-13
   price $269,900
6. 2026-03-29
   price $275,000
7. 2026-03-23
   listed $1,799
8. 2026-03-12
   listed $279,900 Active
9. 2026-02-09
   soldstatus $195,000
10. 2022-10-06
    historical
11. 2022-09-16
    price $249,900
12. 2022-09-15
    status Active
13. 2022-09-07
    historical Contingent
14. 2022-08-03
    price $259,900
15. 2022-07-15
    listed $279,000 Active
16. 2022-07-08
    historical
17. 2012-12-18
    soldstatus $68,000 383-char remark

    Show marketing remark (383 chars)

    Convenient location in a quiet neighborhood. Like new 1-story house, 3 bedrooms, 2 baths, built in 1998. Remodeled, new paint, new carpet, new stove, new range hood, new dishwasher, new AC/heat pump. Ceramic floor in kitchen & living room. Ceiling fans in all rooms. Mini blinds on all windows. Huge deck 17x23. Price drop to $80,000, significantly below market for quick sale.

18. 2012-12-18
    soldstatus $68,000

    Show marketing remark (383 chars)

    Convenient location in a quiet neighborhood. Like new 1-story house, 3 bedrooms, 2 baths, built in 1998. Remodeled, new paint, new carpet, new stove, new range hood, new dishwasher, new AC/heat pump. Ceramic floor in kitchen & living room. Ceiling fans in all rooms. Mini blinds on all windows. Huge deck 17x23. Price drop to $80,000, significantly below market for quick sale.

19. 2012-11-15
    historical 383-char remark

    Show marketing remark (383 chars)

    Convenient location in a quiet neighborhood. Like new 1-story house, 3 bedrooms, 2 baths, built in 1998. Remodeled, new paint, new carpet, new stove, new range hood, new dishwasher, new AC/heat pump. Ceramic floor in kitchen & living room. Ceiling fans in all rooms. Mini blinds on all windows. Huge deck 17x23. Price drop to $80,000, significantly below market for quick sale.

20. 2012-06-17
    listed $75,000 383-char remark

    Show marketing remark (383 chars)

    Convenient location in a quiet neighborhood. Like new 1-story house, 3 bedrooms, 2 baths, built in 1998. Remodeled, new paint, new carpet, new stove, new range hood, new dishwasher, new AC/heat pump. Ceramic floor in kitchen & living room. Ceiling fans in all rooms. Mini blinds on all windows. Huge deck 17x23. Price drop to $80,000, significantly below market for quick sale.

21. 2003-06-30
    soldstatus $90,000

ⓘ 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: $2,678 · $223/mo
• Projected year-2 tax: $2,678 · $223/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥105°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 66% 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: $25,293
• − Mortgage interest: −$15,119
• − Property taxes: −$2,678
• − Insurance: −$1,350
• − Repairs & maintenance: −$2,023
• − Management: −$2,023
• − Depreciation: −$7,852
• Taxable loss: −$5,752
• Est. tax savings @ 24.0%: +$1,381
• After-tax cash flow: $349/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

-98.0% since first listed

21 events — show timeline

• 2026-05-03 Pending — TMLS
• 2026-04-28 Relisted — TMLS
• 2026-04-17 Rental Removed $1,799 APPFOLIO
• 2026-04-15 Pending — TMLS
• 2026-04-13 Price Changed $269,900 TMLS
• 2026-03-29 Price Changed $275,000 TMLS
• 2026-03-23 Listed for Rent $1,799 APPFOLIO
• 2026-03-12 Listed $279,900 TMLS
• 2026-02-09 Sold (Public Records) $195,000 Public Records
• 2022-10-06 Listing Removed — TMLS
• 2022-09-16 Price Changed $249,900 TMLS
• 2022-09-15 Relisted — TMLS
• 2022-09-07 Contingent — TMLS
• 2022-08-03 Price Changed $259,900 TMLS
• 2022-07-15 Listed $279,000 TMLS
• 2022-07-08 Coming Soon — TMLS
• 2012-12-18 Sold (Public Records) $68,000 Public Records
• 2012-12-18 Sold (MLS) $68,000 TMLS
• 2012-11-15 Listing Removed — TMLS
• 2012-06-17 Listed $75,000 TMLS
• 2003-06-30 Sold (Public Records) $90,000 Public Records

Property tax history

+5.2%/yr

Latest (2025): $2,678 · +1.8% YoY. Source: county tax records.