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801 Maple Shade Lane Apex, NC 27502

3 Beds 2 Baths 1,100 sqft Built 1994

$210,000

List Price

$1,130

$1K - $1.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $190.91
  • 3 Days on Market
  • MLS # : 2371774
  • Updated Date : 03/13/2021 at 14:08
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,100 sqft
  • Baths : 2 full
Listing Agent

Golden Realty & Management

Listing Agent's Description

Location-location-location! Charming ranch with inviting front porch to welcomes you into this 3bdr/2ba split bedroom house on a cul-de-sac lot! Spacious kitchen with good sized eat-in area. Master with tub/shower combo and 2 closets. Wood and vinyl flooring throughout living areas and bedrooms. Fenced in backyard with storage. Convenient to shopping, US-1, I-540, NC-55. Come and put your finishing touch to make it your own. This won't last long!!!

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: Perry Village

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $106k370k

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

Neighborhood: Perry Village

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2800900100011001200130014001500160017001800Rent in $7921880

* 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 Regular 681 44 5
Apex Middle School Middle Regular 1,201 63 7
Apex High School High Regular 2,549 132 6

Apex Elementary School

  • Education Level: Primary
  • # of students: 681
  • # of teachers: 44
5
GreatSchools Rating

Apex Middle School

  • Education Level: Middle
  • # of students: 1,201
  • # of teachers: 63
7
GreatSchools Rating

Apex High School

  • Education Level: High
  • # of students: 2,549
  • # of teachers: 132
6
GreatSchools Rating
 

$189,000$231,000$210,000

PURCHASE PRICE

$1,017$1,243$1,130

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,130
EXPENSES Loan Payment -$729
Property Tax -$199
Property Insurance -$49
Property Management Fees -$119
CASH FLOW
$34

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$210,000

PROJECTED PRICE

$1,130

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 5.4%
Maintenance Year (1-5) 8.00%
Vacancy 7.49%
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

PROJECTED ANNUAL CASH FLOW

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

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$61,400

INVESTMENT

$61,400

Down Payment
$52,500
Rehab Estimate
$5,750
Closing Costs
$3,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$729

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $52,500
Loan Amount $157,500
See What Happens When You Reinvest Cash Flow

6.42

YEARS SAVED

$15,634

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,130

    LIST RENT
  • $1.03

    LIST RENT PER SQFT
  • $1,051

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,130
1$1,1302$1,2503$1,400
$1,400
RENT COMPS ANALYSIS
  • 801 Maple Shade Lane Apex, NC 1
    • 3 beds 2 baths ∙ 1,100 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,100 Sqft ∙ Built 1994
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,130
    • $1.03
    •  
  • 319 Glaston Court Apex, NC 2
    • 3 beds 2 baths ∙ 1,332 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,332 Sqft ∙ Built 2001
    property image
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.94
    •  
  • 208 Lynch Street Apex, NC 3
    • 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 2010 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 2010
    property image
    LEASED 03/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.97
    •  
PROPERTY LISTING DETAILS
Tuan Nguyen
1.919.605.7892
Golden Realty & Management
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2371774
Last Updated: 03/13/2021
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