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8109 Brently Drive Apex, NC 27539

3 Beds 2 Baths 1,381 sqft Built 1974

$290,000

List Price

$1,370

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

December 24, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1974
  • Price/Sqft : $209.99
  • 4 Days on Market
  • MLS # : 2359053
  • Updated Date : 12/24/2020 at 13:01
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,381 sqft
  • Baths : 2 full
Listing Agent

Allen Tate/apex

Listing Agent's Description

SHOWINGS START NEW YEARS DAY! Oh my! Your farmhouse dreams have come true in this fantastically updated brick ranch! Quality custom-built white cabinets w/pantry, leathered granite countertops, & stainless appliances are the heart of this home. Kitchen overlooks wide open floorplan w/freshly updated wood burning fireplace in living room, crown molding & REAL hardwoods throughout main living areas. Master & guest bathroom updated! Custom trim & crown molding! Newer shed! Large, flat lot! No city taxes/HOA!

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

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $132k370k

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

Neighborhood: Crowsdale

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2900100011001200130014001500160017001800Rent in $8811880

* 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
Yates Mill Elementary School Primary Regular 635 45 5
Dillard Drive Middle School Middle Regular 1,118 67 5
Middle Creek High School High Regular 2,249 120 7

Yates Mill Elementary School

  • Education Level: Primary
  • # of students: 635
  • # of teachers: 45
5
GreatSchools Rating

Dillard Drive Middle School

  • Education Level: Middle
  • # of students: 1,118
  • # of teachers: 67
5
GreatSchools Rating

Middle Creek High School

  • Education Level: High
  • # of students: 2,249
  • # of teachers: 120
7
GreatSchools Rating
 

$261,000$319,000$290,000

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 -$1,070
Property Tax -$150
Property Insurance -$54
Property Management Fees -$119
CASH FLOW
-$23

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.

$290,000

PROJECTED PRICE

$1,370

PROJECTED RENT

0.47%

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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

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$82,600

INVESTMENT

$82,600

Down Payment
$72,500
Rehab Estimate
$5,750
Closing Costs
$4,350

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,070

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $72,500
Loan Amount $217,500
See What Happens When You Reinvest Cash Flow

6.17

YEARS SAVED

$23,780

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
  • $0.99

    LIST RENT PER SQFT
  • $1,340

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,370
1$1,3702$1,4503$1,675
$1,675
RENT COMPS ANALYSIS
  • 8109 Brently Drive Apex, NC 1
    • 3 beds 2 baths ∙ 1,381 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,381 Sqft ∙ Built 1974
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,370
    • $0.99
    •  
  • 8425 Pierce Olive Road Apex, NC 2
    • 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1983
    property image
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.97
    •  
  • 3432 Hardwood Drive Apex, NC 3
    • 3 beds 2 baths ∙ 1,721 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,721 Sqft ∙ Built 1986
    property image
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.97
    •  
PROPERTY LISTING DETAILS
Ashley Morello
1.919.267.3462
Allen Tate/apex
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2359053
Last Updated: 12/24/2020
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