NOT LISTED FOR SALE

613 Wait Ave Wake Forest, NC 27587

Estimated Value: $447,503 - $597,000

Studio
3 Baths
2,520 Sq Ft
$199/Sq Ft Est. Value

Sale Details

Date Sold: September 25, 2023

Last sale price $450,000 $179 Per Sq Ft

Est. 11% increase in value since last sale

Current estimated payment $3,064 / mo

About This Home

This duplex at 613/615 Wait Ave, is located in close proximity to downtown Wake Forest and the campus of Southeastern Baptist Theological Seminary. Built in 1985, the two-story design features two identical townhome-style floorplans. Each unit has two-bedrooms, two-and-a-half-bathrooms, and its own garage. Both units at the property are currently occupied and are on month-to-month leases. Current rents are well below market but could be increased significantly with light value-add improvements as the units have been well-maintained. Current ownership has made recent improvements to the property that include the following: new roof (2019), new water heaters (2019), new windows (2019), and new rear decks (2021). The property has polybutylene plumbing. This offering presents an opportunity for an investor to acquire a well maintained duplex with significant income upside in a highly-sought after location.

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Aug 18, 2023
Closed on
Sep 22, 2023
Sold by
Trout Kevin W and Trout Theresa A
Bought by
Russ Ingrid Lucila
Seller's Agent
Daniel Pouge
Deaton Investment Real Estate
Buyer's Agent
May Saoutari
Hodge & Kittrell Sotheby's Int
List Price
$425,000
Sold Price
$450,000
Premium/Discount to List
$25,000
5.88%
Views
77
Current Estimated Value
$500,626

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$50,626
Avg. Annual Appreciation
4.36%
Original Mortgage
$337,500
Outstanding Balance
$330,342
Interest Rate
6.96%
Mortgage Type
Construction
Estimated Equity
$170,284

Purchase Details

Closed on
Feb 1, 1999
Sold by
Parrish Tyrone W
Bought by
Snead Barbara E

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$106,400
Interest Rate
6.72%
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Russ Ingrid Lucila $450,000 None Listed On Document
Snead Barbara E $133,000 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Russ Ingrid Lucila $337,500
Previous Owner Snead Barbara E $106,400
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
09/25/2023 09/25/23 Sold $450,000 +5.9% $179 / Sq Ft View Prior Sale
09/01/2023 09/01/23 Pending -- -- --
08/25/2023 08/25/23 For Sale $425,000 -- $169 / Sq Ft

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $4,410 $453,461 $65,000 $388,461
2024 $4,394 $453,461 $65,000 $388,461
Source: Public Records

Agents Affiliated with this Home

  • D

    Seller's Agent in 2023

    Daniel Pouge

    Deaton Investment Real Estate

    Section Image
  • Thomas Furlow

    Seller Co-Listing Agent in 2023

    Thomas Furlow

    Deaton Investment Real Estate

    (919) 847-1117

    6 in this area

    61 Total Sales

    Thomas Furlow
    Section Image
  • May Saoutari

    Buyer's Agent in 2023

    May Saoutari

    Hodge & Kittrell Sotheby's Int

    (919) 629-0011

    25 in this area

    99 Total Sales

    May Saoutari
    Section Image
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Map

North Carolina Wake County Wake Forest 27587

613 Wait Ave, Wake Forest, NC

Not Listed for Sale

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