ZIP CODE 27587 // RALEIGH-CARY, NC // DATA AS OF 2026-09-30
Wake Forest, NC (27587) Rental Property Cap Rate & Cash Flow Report
Located in Wake County (Wake Forest, NC), Zip Code 27587 ranks #366 of 500 within this selected sample (27th percentile) with a Zillow ZHVI typical home-value index of $504,797 (-0.8% YoY) and a ZORI observed market rent of $1,795/mo (+2.9% YoY). Requires at least 66.9% down payment at 6.5% interest to reach $0/mo break-even cash flow. This model combines different housing populations; it is not an observed average property return. Costs assume state-average tax, 0.5% annual insurance, 13% reserves and no HOA or management. Figures below follow your edits; this headline describes the original benchmark.
Net Monthly Cash Flow
-$1,496/mo
Annual: -$17,949/yr
Modeled Cap Rate
2.51%
NOI: $12,682/yr
Cash-on-Cash Return
-15.46%
Cash Needed: $116,103
1% Rule Ratio
0.36%
Gross Yield: 4.27%
Break-Even Rent
$3,514/mo
State Tax: 0.70%/yr
INTERACTIVE PRO-FORMA STATEMENT (ZIP 27587 BENCHMARK)
Edit any value
Purchase Price (ZHVI proxy)
Monthly Gross Rent (ZORI proxy)
Down Payment (%)
Interest Rate (30Y Fixed %)
Annual Property Tax (NC Avg 0.70%)
Annual Home Insurance ($)
Monthly HOA Fee ($)
Monthly Debt Service (P&I)
-$2,553/mo
Monthly Operating Expenses (Tax + Ins + 13% Reserves)
-$738/mo
HISTORICAL ZHVI PRICE VS. ZORI RENT TRAJECTORY (27587)
| Year | ZHVI Value | ZORI Rent | Gross Yield |
|---|---|---|---|
| 2021 | $425,977 | $1,564/mo | 4.41% |
| 2022 | $521,547 | $1,701/mo | 3.91% |
| 2023 | $509,115 | $1,721/mo | 4.06% |
| 2024 | $518,555 | $1,708/mo | 3.95% |
| 2025 | $508,949 | $1,745/mo | 4.11% |
| 2026 | $504,797 | $1,795/mo | 4.27% |
COMPARABLE U.S. RENTAL MARKETS
| Zip / City | Price | Rent | Cap Rate | Cash Flow |
|---|---|---|---|---|
| 28078 Huntersville, NC | $535,352 | $1,938/mo | 2.58% | -$1,556/mo |
| 27713 Durham, NC | $409,919 | $1,544/mo | 2.73% | -$1,139/mo |
| 28173 Waxhaw, NC | $687,851 | $2,637/mo | 2.80% | -$1,872/mo |
| 28277 Charlotte, NC | $602,387 | $1,974/mo | 2.22% | -$1,931/mo |
| 28027 Concord, NC | $409,576 | $1,752/mo | 3.27% | -$956/mo |
| 27519 Cary, NC | $690,357 | $1,899/mo | 1.67% | -$2,529/mo |