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300 Lynch Street 
Apex, NC
27502
3 Beds 2 Baths 1,084 sqft
Built 2008
INVESTimate
$235,000
List Price
$68,025
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PROPERTY INFO
FACTS
- Built In 2008
- Price/Sqft : $216.79
- 2 Days on Market
- MLS # : 2339157
- Updated Date : 08/25/2020 at 23:08
CONSTRUCTION
- Beds : 3
- Floor Size : 1,084 sqft
- Baths : 2 full
Listing Agent
Haynes Properties
Listing Agent's Description
Beautiful move-in ready, well maintained 3 bedroom ranch in downtown Apex! Gorgeous kitchen, appliances, range hood, granite counter tops, tile back splash. Enjoy mornings and evenings on the over-sized deck and fenced in back yard. Walk-in crawl space for plenty of storage. Walk to downtown Apex restaurants, shops and town festivals!
SEE MORE
- 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
- #7 Best Big City for Jobs 2018 (Forbes, 2018)
- 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
Zip Code: 27502
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 27502
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,400 |
| EXPENSES | Loan Payment | -$867 |
| Property Tax | -$183 | |
| Property Insurance | -$48 | |
| Property Management Fees | -$126 | |
|
CASH FLOW
$176
|
||
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.
$235,000
PROJECTED PRICE
$1,400
PROJECTED RENT
0.60%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.33% |
| Appreciation Year (1-5) | 5.37% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 7.51% |
| Length of Stay Years | 2 |
TOTAL CASH OUT OF POCKET
INVESTMENT
$68,025
LOAN DETAILS
$867
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $58,750 |
| Loan Amount | $176,250 |
9.25
YEARS SAVED
$35,389
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,400
LIST RENT -
$1.29
LIST RENT PER SQFT
-
COMP ESTIMATED VALUE -
COMP AVG. RENT PER SQFT
Comps Range
-
300 Lynch Street Apex,
- 3 beds 2 baths ∙ 1,084 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,084 Sqft ∙ Built 2008
![property image]()
- Rent
- Rent Per SQFT
- $1,400
- $1.29
PROPERTY LISTING DETAILS
1.919.475.8654
Haynes Properties
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
MLS #: 2339157
Last Updated: 08/25/2020
