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3413 Ashmill Court Apex, NC 27539

3 Beds 3 Baths 2,124 sqft Built 1985

$300,000

List Price

$1,750

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

December 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $141.24
  • 2 Days on Market
  • MLS # : 2358587
  • Updated Date : 12/19/2020 at 16:26
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,124 sqft
  • Baths : 2 full , 1 half
Listing Agent

Berkshire Hathaway Homeservices Ysu

Listing Agent's Description

You're minutes to everything but tucked away enough to get away. Set on .69 wooded acre, this 3 bedroom home has it ALL. First floor owners suite with his and hers closets + an extra closet. Updated kitchen that opens to the dining. Vaulted living room with exposed beams and beautiful fireplace. 2 bedrooms upstairs with tons of storage. One bedroom opens to a flex room which is perfect for a playroom, craft room, or home office. Large walk in attic. Deck has wooded views and is perfect for entertaining.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Sancroft

NeighborhoodNIR Market*CityMarket2010Year20002019160k180k200k220k240k260k280k300k320k340k360kPrice in $153k370k

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

Neighborhood: Sancroft

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q211001200130014001500160017001800Rent in $10181880

* 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
 

$270,000$330,000$300,000

PURCHASE PRICE

$1,575$1,925$1,750

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,750
EXPENSES Loan Payment -$1,107
Property Tax -$182
Property Insurance -$69
Property Management Fees -$119
CASH FLOW
$273

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.

$300,000

PROJECTED PRICE

$1,750

PROJECTED RENT

0.58%

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$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k

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$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $75,000
Loan Amount $225,000
See What Happens When You Reinvest Cash Flow

11.17

YEARS SAVED

$57,790

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,750

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $1,805

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,7503$1,895
$1,895
RENT COMPS ANALYSIS
  • 3413 Ashmill Court Apex, NC 2
    • 3 beds 3 baths ∙ 2,124 Sqft ∙ Built 1985 3 beds 3 baths ∙ 2,124 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.82
    •  
  • 4717 Optimist Farm Road Holly Springs, NC 1
    • 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
    •  
  • 9004 Oak Branch Drive Apex, NC 3
    • 4 beds 3 baths ∙ 2,244 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,244 Sqft ∙ Built 2003
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.84
    •  
PROPERTY LISTING DETAILS
Heidi Harris
1.919.946.3292
Berkshire Hathaway Homeservices Ysu
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2358587
Last Updated: 12/19/2020
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