503 Homegate CirApexNC27502
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Ziffy AI Summary
A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
- Attractive rent-to-price ratio for income stability
- Good fit for DSCR financing with healthy coverage
Investment Highlights
Rental property for sale in Apex at 503 Homegate Cir, Apex, NC, 27502 priced at $600,000 converts $2,891/mo rent into after a $2,937/mo obligation. Total monthly income equals $2,891/mo. Return on cash invested prints 15.4% in year one, and rental yield reads 5.78% against a $600,000 entry. Equity gained on principal adds $3,872/yr, while 5% annual appreciation compiles into $165,769 by year five. Five-year ROI reaches 78.51% and total cumulative return in cash sums $154,980. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $2,891/mo property income covering a $2,937/mo payment, not borrower’s personal income.
Single Family
Built in 2006
5,227 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 27502, Apex, NC area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 19,077 (100%) |
| Owner Occupied HU | 14,333 (75.1%) |
| Renter Occupied HU | 3,940 (20.7%) |
| Vacant Housing Units | 804 ( 4.2%) |
| Median Home Value | $588,560 |
| Average Home Value | $614,278 |
Housing Distribution
Address Breakdown
Residential
18,556
Single Family
17,585
Multi-Family
971
Businesses
1,422
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Listed by: Laura Szemereta • Choice Residential Real Estate
Mls Name: Doorify MLS
Mls ID: #10125281