POLO 1307 | STUDENT HOUSING IN WAKE FOREST, NC
Deaton Investment Real Estate is pleased to present the exclusive listing of ten, single-family rentals in Winston-Salem, North Carolina on the edge of Wake Forest University (WFU). Ranked the 27th best educational institution in the nation, WFU has an enrollment of 8,500 and more than 6,200 full-time faculty and staff. Winston-Salem has an estimated population of $247,945 and is the fifth most populous city in North Carolina.
The homes are located within walking distance of WFU and 100% leased for the 2020-21 school year with a total monthly rent roll of $25,815. There are a total of 41 bedrooms with an average rent of $630 per-bed. The current owner completed more than $360,000 of capital improvements in 2016 to renovate and update the homes, including the installation of stainless steel appliances and granite counter tops.
This is a great opportunity to acquire a stabilized, student-housing portfolio in a thriving market.
UNIT INFORMATION
| Unit | Type | Size | Rent |
|---|---|---|---|
| 10 HOMES, SEE RENT ROLL | 3-, 4- AND 5-BEDROOM | 1,288 - 2,380 SF | $28,815 TOTAL PER MONTH |
PROPERTY INFORMATION
| PIN | SEE EXHIBIT |
| Tax Value | $1,352,100 |
| Taxes | $18,806.38 |
| Lot Size | .20 - .76 ACRES |
| Year Built | 1934 - 1990 |
| Exterior | BRICK, WOOD, HARDBOARD, VINYL, ASBESTOS |
| Floors | HARDWOOD, TILE, VINYL, CARPET |
| Foundation | CRAWL, BASEMENT |
| HVAC | CENTRAL AIR |
| Utilities | PAID BY TENANTS |
| Legal Description | SEE EXHIBIT |
| Appliances | RANGE, REFRIGERATOR, DISHWASHER, MICROWAVE, WASHER & DRYER |
| Zoning | RES |
Agent Information Thomas T Furlow