Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

200 Fair Haven Street Apex, NC 27539

3 Beds 2 Baths 1,605 sqft Built 1995

$239,900

List Price

$1,420

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
January 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1995
  • Price/Sqft : $149.47
  • 5 Days on Market
  • MLS # : 2363566
  • Updated Date : 01/27/2021 at 17:27
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,605 sqft
  • Baths : 2 full
Listing Agent

Raleigh Realty

Listing Agent's Description

Move in ready. Large lot. Workshop and barn. Awesome screen porch!!!

SEE MORE

MARKET HIGHLIGHTS

  • #7 Best Big City for Jobs 2018 (Forbes, 2018)
  • 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)
  • 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: Fairview Wooded Acres

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $95k370k

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

Neighborhood: Fairview Wooded Acres

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2800900100011001200130014001500160017001800Rent in $7931880

* 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
Middle Creek Elementary School Primary Regular 849 56 6
Holly Ridge Middle School Middle Regular 1,222 69 4
Middle Creek High School High Regular 2,249 120 7

Middle Creek Elementary School

  • Education Level: Primary
  • # of students: 849
  • # of teachers: 56
6
GreatSchools Rating

Holly Ridge Middle School

  • Education Level: Middle
  • # of students: 1,222
  • # of teachers: 69
4
GreatSchools Rating

Middle Creek High School

  • Education Level: High
  • # of students: 2,249
  • # of teachers: 120
7
GreatSchools Rating
 

$215,910$263,890$239,900

PURCHASE PRICE

$1,278$1,562$1,420

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,420
EXPENSES Loan Payment -$833
Property Tax -$124
Property Insurance -$59
Property Management Fees -$119
CASH FLOW
$285

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.

$239,900

PROJECTED PRICE

$1,420

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.33%
Appreciation Year (1-5) 4.4%
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$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,324

INVESTMENT

$69,324

Down Payment
$59,975
Rehab Estimate
$5,750
Closing Costs
$3,599

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$833

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $59,975
Loan Amount $179,925
See What Happens When You Reinvest Cash Flow

12.25

YEARS SAVED

$45,694

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,420

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,461

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,295
1$1,2952$1,4203$1,550
$1,550
RENT COMPS ANALYSIS
  • 200 Fair Haven Street Apex, NC 2
    • 3 beds 2 baths ∙ 1,605 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,605 Sqft ∙ Built 1995
    • Rent
    • Rent Per SQFT
    •  
    • $1,420
    • $0.88
    •  
  • 106 N Bell Haven Street Apex, NC 1
    • 3 beds 2 baths ∙ 1,344 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,344 Sqft ∙ Built 1997
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.96
    •  
  • 4717 Optimist Farm Road Holly Springs, NC 3
    • 3 beds 3 baths ∙ 1,800 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,800 Sqft ∙ Built 2000
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.86
    •  
PROPERTY LISTING DETAILS
Buddy Mcclamrock
1.919.828.2122
Raleigh Realty
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2363566
Last Updated: 01/27/2021
BESbswy