D
Seller's Agent in 2023
Daniel Pouge
Deaton Investment Real Estate
627 Wait Ave Wake Forest, NC 27587
Estimated Value: $433,000 - $483,000
--
Bed
3
Baths
2,520
Sq Ft
$181/Sq Ft
Est. Value
Highlights
- Luxury Vinyl Tile Flooring
- Heritage Elementary School Rated A
- Forced Air Heating and Cooling System
About This Home
As of August 2023This duplex at 627/629 Wait Ave, is located in close proximity to downtown Wake Forest and the campus of Southeastern Baptist Theological Seminary. The property is fully-leased with $2,300 in gross monthly rent. Current rents are below market but could be increased significantly with strategic improvements. Post-renovation market rents are estimated to be $1,800 per unit. 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. Utilities are individually metered and are paid by the residents. The neighboring duplex, 621/623 Wait Ave, is owned by the same owner and is also up for sale. These two duplexes can be bought individually or as a package. Both of these duplexes present a excellent value-add opportunity in a highly-desirable location.
Last Agent to Sell the Property
Daniel Pouge
Deaton Investment Real Estate License #339670 Listed on: 07/20/2023
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1985
Parking
- Off-Street Parking
Home Design
- Vinyl Siding
Flooring
- Carpet
- Luxury Vinyl Tile
- Vinyl
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
Closed on
Jul 22, 2024
Sold by
627-629 Wait Ave Trust and Tika Bay Llc
Bought by
Moshka Holdings I Lc
Current Estimated Value
Purchase Details
Listed on
Jul 20, 2023
Closed on
Aug 15, 2023
Sold by
Kaybri Llc
Bought by
627-629 Wait Ave Trust
Seller's Agent
Daniel Pouge
Deaton Investment Real Estate
Buyer's Agent
Ilya Zaverukha
NorthGroup Real Estate, Inc.
List Price
$399,000
Sold Price
$452,000
Premium/Discount to List
$53,000
13.28%
Views
53
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
0.35%
Purchase Details
Closed on
Apr 20, 2009
Sold by
Willhite Harold I and Richardson Julius
Bought by
Federal Home Loan Mortgage Corporation
Purchase Details
Closed on
Mar 6, 2009
Sold by
Willhite Harold L and Richardson Julius
Bought by
Federal Home Loan Mortgage Corporation
Purchase Details
Closed on
Jan 13, 2005
Sold by
Edwards Jonathan S and Edwards Connie W
Bought by
Willhite Harold L
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$144,000
Interest Rate
5.61%
Mortgage Type
Fannie Mae Freddie Mac
Purchase Details
Closed on
Jul 30, 2003
Sold by
Taylor James L and Taylor Gwenevere O
Bought by
Edwards Jonathan S and Edwards Connie W
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$109,300
Interest Rate
5.17%
Mortgage Type
Purchase Money Mortgage
Purchase Details
Closed on
Apr 17, 2000
Sold by
Millhouser Brian R
Bought by
Taylor James L
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$136,600
Interest Rate
8.29%
Mortgage Type
FHA
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 |
|---|---|---|---|
| Moshka Holdings I Lc | -- | None Listed On Document | |
| 627-629 Wait Ave Trust | $452,000 | None Listed On Document | |
| Federal Home Loan Mortgage Corporation | $149,547 | None Available | |
| Federal Home Loan Mortgage Corporation | $149,547 | None Available | |
| Willhite Harold L | $160,000 | -- | |
| Edwards Jonathan S | $137,000 | -- | |
| Taylor James L | $137,000 | -- |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Previous Owner | Willhite Harold L | $144,000 | |
| Previous Owner | Edwards Jonathan S | $109,300 | |
| Previous Owner | Taylor James L | $136,600 |
Source: Public Records
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 12/14/2023 12/14/23 | Off Market | $452,000 | -- | -- |
| 08/18/2023 08/18/23 | Sold | $452,000 | +13.3% | $179 / Sq Ft |
| 07/28/2023 07/28/23 | Pending | -- | -- | -- |
| 07/24/2023 07/24/23 | For Sale | $399,000 | -- | $158 / 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 |
|---|---|---|---|---|
| 2025 | $4,410 | $453,461 | $65,000 | $388,461 |
| 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 | $0 | $162,593 | $30,000 | $132,593 |
| 2015 | -- | $167,987 | $30,000 | $137,987 |
| 2014 | -- | $167,987 | $30,000 | $137,987 |
Source: Public Records
Agents Affiliated with this Home
-
-
Thomas Furlow
Seller Co-Listing Agent in 2023
Thomas Furlow
Deaton Investment Real Estate
(919) 847-1117
6 in this area
65 Total Sales
-
Ilya Zaverukha
Buyer's Agent in 2023
Ilya Zaverukha
NorthGroup Real Estate, Inc.
(919) 249-5044
4 in this area
59 Total Sales
Map
Source: Doorify MLS
MLS Number: 2522536
APN: 1841.19-70-3812-000
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