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9021 Branch Creek Way Apex, NC 27539

3 Beds 3 Baths 1,889 sqft Built 1997

$299,000

List Price

$1,630

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 04, 2020 RECENTLY ADDED
FACTS
  • Built In 1997
  • Price/Sqft : $158.28
  • 5 Days on Market
  • MLS # : 2352005
  • Updated Date : 11/07/2020 at 17:16
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,889 sqft
  • Baths : 2 full , 1 half
Listing Agent

Choice Residential Real Estate

Listing Agent's Description

This home has it all, private wooded, fenced back yard with double deck. Beautiful natural light throughout the home. Great location, walking distance to the Kraft family YMCA & stores/restaurant. 3 bedrooms, 2.5 bath, bright open kitchen with plenty of prep space. Spacious family room & dining room perfect for entertaining. Large backyard for gatherings, hanging out by the fire, plenty of room to play. New Roof in 2020, HVAC is a year old & has had regular servicing. Quiet cul de sac street.

SEE MORE

MARKET HIGHLIGHTS

  • #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)
  • 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: Oak Chase

NeighborhoodNIR Market*CityMarket2010Year20002019160k180k200k220k240k260k280k300k320k340k360kPrice in $153k370k

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

Neighborhood: Oak Chase

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q211001200130014001500160017001800Rent in $10271880

* 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
 

$269,100$328,900$299,000

PURCHASE PRICE

$1,467$1,793$1,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,630
EXPENSES Loan Payment -$1,103
Property Tax -$155
Property Insurance -$64
HOA -$10
Property Management Fees -$147
CASH FLOW
$151

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.

$299,000

PROJECTED PRICE

$1,630

PROJECTED RENT

0.55%

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

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$84,985

INVESTMENT

$84,985

Down Payment
$74,750
Rehab Estimate
$5,750
Closing Costs
$4,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,103

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $74,750
Loan Amount $224,250
See What Happens When You Reinvest Cash Flow

8.17

YEARS SAVED

$38,208

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,630

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,615

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6003$1,630
$1,630
RENT COMPS ANALYSIS
  • 9021 Branch Creek Way Apex, NC 3
    • 3 beds 3 baths ∙ 1,889 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,889 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $1,630
    • $0.86
    •  
  • 6002 Splitrock Trail Apex, NC 1
    • 3 beds 3 baths ∙ 1,995 Sqft ∙ Built 1993 3 beds 3 baths ∙ 1,995 Sqft ∙ Built 1993
    LEASED 06/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.80
    •  
  • 3849 Perney Court Apex, NC 2
    • 3 beds 3 baths ∙ 1,750 Sqft ∙ Built 1993 3 beds 3 baths ∙ 1,750 Sqft ∙ Built 1993
    LEASED 06/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.91
    •  
PROPERTY LISTING DETAILS
Jamie Costello
1.914.536.0891
Choice Residential Real Estate
Tamara Artist
1.866.250.5610
Homeunion NC, LLC
NCREC #C26317
Triangle Multiple Listing Service ( TMLS)
MLS #: 2352005
Last Updated: 11/07/2020
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