$822,500
●
Land -
Off Market
1759 Luther Road
Apex, NC 27523
Studio
0 Bath
$4,726
Est. Monthly
About This Property
This exceptional large acreage lot offers the ideal setting for
your dream estate home. The land boasts a wonderful mix of pasture,
mature woods, and a picturesque 1+ acre pond, providing a serene
rural atmosphere. With its tranquil location, the property is just
minutes away from downtown Apex and a short ride to Cary. Past
survey with all boundary lines clearly marked. Choose your own
builder with no restrictions and no time limit to build. Embrace
the opportunity to create your custom home in this quiet yet
convenient setting. Permitted for up to 5 bedrooms.
Minutes to 64, 540 and Jordan Lake
Unit Size
-
Days on Market
-
Land Size
8.85 acres
Price per sqft
-
Property Type
Land
Property Taxes
$184
HOA Dues
-
Year Built
-
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Cap Rate
100% Occupancy
N/A (extreme outlier) What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Last updated: 2 years ago (TMLS #10037691)
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Sep 30, 2024 | Sold | ||
| Sold | |||
| Aug 22, 2024 | In contract | - | |
| In contract | |||
| Jun 25, 2024 | Listed by Cary-Raleigh Realty, Inc. | $925,000 | |
| Listed by Cary-Raleigh Realty, Inc. | |||
| | |||
|
This exceptional large acreage lot offers the ideal setting for your dream estate home. The land boasts a wonderful mix of pasture, mature woods, and a picturesque 1+ acre pond, providing a serene rural atmosphere. With its tranquil location, the property is just minutes away from downtown Apex and a short ride to Cary. Past survey with all boundary lines clearly marked. Choose your own builder with no restrictions and no time limit to build. Embrace the opportunity to create your custom home in this quiet yet convenient setting. Permitted for up to 5 bedrooms. Minutes to 64, 540 and Jordan Lake
| |||
| Sep 6, 2023 | No longer available | - | |
| No longer available | |||
| Jan 6, 2023 | Price Decreased |
$1,295,000
↓ $100K
(7.2%) | |
| Price Decreased | |||
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Property Highlights
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Building Info
Data used for valuation calculations is provided by RealtyHop, and other third party sources
Comparables
Unit
Status
Status
Type
Beds
Baths
ft²
Price/ft²
Price/ft²
Asking Price
Listed On
Listed On
Closing Price
Sold On
Sold On
HOA + Taxes
About Chatham
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Listed by: Hannah Chan, Cary-Raleigh Realty, Inc.
Last Updated: 2 years ago
Data Source: TMLS, MLS# 10037691
Last Updated: 2 years ago
Data Source: TMLS, MLS# 10037691
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