613 Wait Ave Wake Forest, NC 27587
Estimated Value: $420,000 - $514,000
--
Bed
3
Baths
2,520
Sq Ft
$187/Sq Ft
Est. Value
Highlights
- Tile Flooring
- Heritage Elementary School Rated A
- Forced Air Heating and Cooling System
About This Home
As of September 2023This 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.
Last Agent to Sell the Property
Daniel Pouge
Deaton Investment Real Estate License #339670 Listed on: 08/18/2023
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $2,632
Year Built
- Built in 1985
Lot Details
- 0.65
Parking
- Off-Street Parking
Home Design
- Vinyl Siding
Flooring
- Carpet
- Tile
Basement
- Crawl Space
Schools
- Wake County Schools Elementary And Middle School
- Wake County Schools High School
Utilities
- Forced Air Heating and Cooling System
- Heating System Uses Natural Gas
Community Details
- 2 Units
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%
Total Days on Market
7
Views
77
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$22,063
Avg. Annual Appreciation
2.88%
Original Mortgage
$337,500
Outstanding Balance
$332,839
Interest Rate
6.96%
Mortgage Type
Construction
Estimated Equity
$139,182
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%
Similar Home in Wake Forest, NC
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
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 | Trout Kevin W | $110,500 | |
| Previous Owner | Trout Kevin W | $128,000 | |
| Previous Owner | Snead Barbara E | $102,000 | |
| Previous Owner | Snead Barbara E | $106,400 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 09/25/2023 09/25/23 | Sold | $450,000 | +5.9% | $179 / Sq Ft |
| 09/01/2023 09/01/23 | Pending | -- | -- | -- |
| 08/25/2023 08/25/23 | For Sale | $425,000 | -- | $169 / Sq Ft |
Source: Doorify MLS
Tax History Compared to Growth
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 |
|---|---|---|---|---|
| 2024 | $4,394 | $453,461 | $65,000 | $388,461 |
| 2023 | $2,632 | $223,038 | $30,000 | $193,038 |
| 2022 | $2,526 | $223,038 | $30,000 | $193,038 |
| 2021 | $2,482 | $223,038 | $30,000 | $193,038 |
| 2020 | $2,482 | $223,038 | $30,000 | $193,038 |
| 2019 | $2,057 | $162,593 | $30,000 | $132,593 |
| 2018 | $1,949 | $162,593 | $30,000 | $132,593 |
| 2017 | $1,885 | $162,593 | $30,000 | $132,593 |
| 2016 | $1,862 | $162,593 | $30,000 | $132,593 |
| 2015 | $1,946 | $167,987 | $30,000 | $137,987 |
| 2014 | $1,884 | $167,987 | $30,000 | $137,987 |
Source: Public Records
Agents Affiliated with this Home
-
D
Seller's Agent in 2023
Daniel Pouge
Deaton Investment Real Estate
(904) 982-6097
4 in this area
10 Total Sales
-
Thomas Furlow
Seller Co-Listing Agent in 2023
Thomas Furlow
Deaton Investment Real Estate
(919) 847-1117
7 in this area
72 Total Sales
-
May Saoutari
Buyer's Agent in 2023
May Saoutari
Hodge & Kittrell Sotheby's Int
(919) 629-0011
30 in this area
100 Total Sales
Map
Source: Doorify MLS
MLS Number: 2527762
APN: 1841.19-70-1960-000
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