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2600 Brantley Drive Apex, NC 27539

3 Beds 2 Baths 1,019 sqft Built 1980

$239,900

List Price

$1,220

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1980
  • Price/Sqft : $235.43
  • 4 Days on Market
  • MLS # : 2366406
  • Updated Date : 02/12/2021 at 19:53
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,019 sqft
  • Baths : 1 full , 1 half
Listing Agent

Grow Local Realty Llc

Listing Agent's Description

Beautiful remodeled home with tons of upgrades! Updated kitchen with granite counter tops, back splash, and stainless steel appliances. Bathrooms with new updated custom vanities. New dark bamboo floors throughout and new plush carpet in bedrooms. New stainless hardware and brushed nickel throughout. NEW WINDOWS IN 2021 W/WARRANTY! Freshly painted through the entire home with smooth ceilings. Large .73 acre corner lot with professionally landscaped exterior.

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
  • #7 Best Big City for Jobs 2018 (Forbes, 2018)
  • 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: Belmont Estates

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $83k370k

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

Neighborhood: Belmont Estates

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2700800900100011001200130014001500160017001800Rent in $6111880

* 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
West Lake Elementary School Primary Regular 893 58 6
West Lake Middle School Middle Regular 1,344 77 6
Middle Creek High School High Regular 2,249 120 7

West Lake Elementary School

  • Education Level: Primary
  • # of students: 893
  • # of teachers: 58
6
GreatSchools Rating

West Lake Middle School

  • Education Level: Middle
  • # of students: 1,344
  • # of teachers: 77
6
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

$1,098$1,342$1,220

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,220
EXPENSES Loan Payment -$833
Property Tax -$124
Property Insurance -$47
Property Management Fees -$119
CASH FLOW
$96

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

$1,220

PROJECTED RENT

0.51%

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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530$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

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 40% 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

8.5

YEARS SAVED

$27,268

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,220

    LIST RENT
  • $1.2

    LIST RENT PER SQFT
  • COMP ESTIMATED VALUE
  • COMP AVG. RENT PER SQFT
Comps Range
$1,220
1$1,220
$1,220
RENT COMPS ANALYSIS
  • 2600 Brantley Drive Apex, NC
    • 3 beds 2 baths ∙ 1,019 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,019 Sqft ∙ Built 1980
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,220
    • $1.20
    •  
PROPERTY LISTING DETAILS
Nicholas Yarrington
1.910.639.4890
Grow Local Realty Llc
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2366406
Last Updated: 02/12/2021
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