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215 Hollyhock Lane Apex, NC 27539

3 Beds 2 Baths 1,515 sqft Built 1998

$275,000

List Price

$1,370

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $181.52
  • 2 Days on Market
  • MLS # : 2365461
  • Updated Date : 02/06/2021 at 19:03
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,515 sqft
  • Baths : 2 full
Listing Agent

Fonville Morisey/lochmere Sales Office

Listing Agent's Description

Coming Soon!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • #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

PRICE & RENT TRENDS

Neighborhood: Sunset Hills

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $136k370k

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

Neighborhood: Sunset Hills

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2100011001200130014001500160017001800Rent in $9051880

* 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 Unknown NA
Apex Friendship Middle Middle Regular NA
Apex Friendship High School High Regular NA

Apex Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Apex Friendship Middle

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Apex Friendship High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

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

PURCHASE PRICE

$1,233$1,507$1,370

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,370
EXPENSES Loan Payment -$955
Property Tax -$208
Property Insurance -$57
HOA -$37
Property Management Fees -$119
CASH FLOW
-$6

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

$1,370

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.33%
Appreciation Year (1-5) 5.3%
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$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

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

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 50% down payment or higher enables the proceeds from the asset to cover all costs.

$955

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $68,750
Loan Amount $206,250
See What Happens When You Reinvest Cash Flow

6.08

YEARS SAVED

$18,701

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,370

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,439

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,370
1$1,3702$1,4253$1,4954$1,5505$1,625
$1,625
RENT COMPS ANALYSIS
  • 215 Hollyhock Lane Apex, NC 1
    • 3 beds 2 baths ∙ 1,515 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,515 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $1,370
    • $0.90
    •  
  • 217 Hazelmere Drive Holly Springs, NC 2
    • 3 beds 3 baths ∙ 1,455 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,455 Sqft ∙ Built 2000
    LEASED 02/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $0.98
    •  
  • 1004 Creek Haven Drive Holly Springs, NC 3
    • 3 beds 2 baths ∙ 1,659 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,659 Sqft ∙ Built 1998
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.90
    •  
  • 132 Fairford Drive Holly Springs, NC 4
    • 3 beds 3 baths ∙ 1,669 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,669 Sqft ∙ Built 2003
    LEASED 11/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.93
    •  
  • 209 Doves Haven Drive Apex, NC 5
    • 3 beds 3 baths ∙ 1,639 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,639 Sqft ∙ Built 2003
    LEASED 01/16/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.99
    •  
PROPERTY LISTING DETAILS
Holly Hendren Moreau
Fonville Morisey/lochmere Sales Office
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2365461
Last Updated: 02/06/2021
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