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1804 Holly Street Apex, NC 27502

3 Beds 2 Baths 1,925 sqft Built 1968

$275,000

List Price

$1,480

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

December 01, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1968
  • Price/Sqft : $142.86
  • 6 Days on Market
  • MLS # : 2355737
  • Updated Date : 12/01/2020 at 22:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,925 sqft
  • Baths : 2 full
Listing Agent

Fonville Morisey/preston Sales Office

Listing Agent's Description

PRIME Apex location! All Brick Ranch home on a LARGE cul-de-sac LOT with fenced in backyard.Perfect for 1st time homeowner.This home offers a great floor plan with entry foyer, dining room & spacious family room features masonry fireplace. All-white kitchen, Stainless appliances, Refrigerator included. Fresh interior paint. Plenty of space for outdoor living or entertainment with two decks! Walking distance to Apex High School, Restaurants and Shopping, Across from Costco! NO HOA. MUST SEE HURRY!

SEE MORE

MARKET HIGHLIGHTS

  • Raleigh-Durham combined metros contribute to 24.1% of North Carolina's state economy i.e. Gross State Product (USMayors.org, 2018)
  • University of North Carolina, Duke University and Davidson University systems drive rental demand
  • Major employers in Raleigh area: IBM, Cisco systems, Fidelity Investments, GlaxoSmithKline, RTI International
  • One of Top 10 cities for Small Business Friendliness (Thumbtack, 2018)
  • #7 Best Big City for Jobs 2018 (Forbes, 2018)
  • Raleigh-Durham combined metros' economy is worth over $137 billion in Gross Metro Product and projected to grow to $146 billion in 2019 (USMayors.org, 2018)
  • Raleigh-Durham combined metros has 65.3% labor force participation rate higher than the national rate of 62.8% (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Knollwood

NeighborhoodNIR Market*CityMarket2010Year20002019160k180k200k220k240k260k280k300k320k340k360kPrice in $143k370k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Knollwood

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2100011001200130014001500160017001800Rent in $9591880

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Apex Elementary School Primary Regular 681 44 5
Apex Middle School Middle Regular 1,201 63 7
Apex High School High Regular 2,549 132 6

Apex Elementary School

  • Education Level: Primary
  • # of students: 681
  • # of teachers: 44
5
GreatSchools Rating

Apex Middle School

  • Education Level: Middle
  • # of students: 1,201
  • # of teachers: 63
7
GreatSchools Rating

Apex High School

  • Education Level: High
  • # of students: 2,549
  • # of teachers: 132
6
GreatSchools Rating
 

$247,500$302,500$275,000

PURCHASE PRICE

$1,332$1,628$1,480

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,480
EXPENSES Loan Payment -$1,015
Property Tax -$246
Property Insurance -$65
Property Management Fees -$119
CASH FLOW
$36

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 16% of earned rent to cover both maintenance and periods of vacancy.

$275,000

PROJECTED PRICE

$1,480

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.33%
Appreciation Year (1-5) 5.4%
Maintenance Year (1-5) 8.00%
Vacancy 7.51%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,625

INVESTMENT

$78,625

Down Payment
$68,750
Rehab Estimate
$5,750
Closing Costs
$4,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,015

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $68,750
Loan Amount $206,250
See What Happens When You Reinvest Cash Flow

7.08

YEARS SAVED

$27,294

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $1,480

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $1,651

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,480
1$1,4802$1,5503$1,5504$1,6505$1,800
$1,800
RENT COMPS ANALYSIS
  • 1804 Holly Street Apex, NC 1
    • 3 beds 2 baths ∙ 1,925 Sqft ∙ Built 1968 3 beds 2 baths ∙ 1,925 Sqft ∙ Built 1968
    • Rent
    • Rent Per SQFT
    •  
    • $1,480
    • $0.77
    •  
  • 1210 Haddington Drive Cary, NC 2
    • 3 beds 2 baths ∙ 1,875 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,875 Sqft ∙ Built 1976
    LEASED 06/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.83
    •  
  • 114 Tapestry Terrace Cary, NC 3
    • 4 beds 3 baths ∙ 1,842 Sqft ∙ Built 1988 4 beds 3 baths ∙ 1,842 Sqft ∙ Built 1988
    LEASED 07/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.84
    •  
  • 1604 Laura Duncan Road Apex, NC 4
    • 3 beds 2 baths ∙ 1,873 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,873 Sqft ∙ Built 1972
    LEASED 01/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.88
    •  
  • 1106 Knollwood Drive Apex, NC 5
    • 4 beds 3 baths ∙ 2,043 Sqft ∙ Built 1971 4 beds 3 baths ∙ 2,043 Sqft ∙ Built 1971
    LEASED 08/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.88
    •  
PROPERTY LISTING DETAILS
Marzy Tritch
1.919.601.7123
Fonville Morisey/preston Sales Office
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2355737
Last Updated: 12/01/2020
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