APEX, NC 27502

OVERVIEW

605 Olive St is a value-add play in one of the tightest submarkets in the Triangle. Apex has been one of the strongest residential markets in North Carolina for years, and inventory at this price with this much spread has become rare.

The numbers are clean. Buy at $556,000, put in $100,000 of rehab, and the projected ARV is $842,000. That's a $186,000 gross spread before carrying costs, commissions, and closing fees. Enough room to absorb a scope change mid-project or to hold and rent if the exit market softens.

The home is 5 bed / 3 bath, 2,800 sq ft on a 0.27-acre lot, just off downtown Apex. Five bedrooms and three full baths at that square footage gives you real flexibility. Strong resale for a family buyer, and equally viable as a rental with multiple rentable bedrooms.

All junk and personal property will be removed from the home before close. You take possession of a clean, empty house and start demo day one. No dumpster rental, no haul-off, no surprise line item at the front of your budget.

This is a renovation play where the scope is yours to set.

WHY IT MAKES SENSE

The spread carries the deal. $186,000 on a $556,000 basis is roughly a 33% spread over purchase price. That survives budget overruns, extended timelines, and a market that moves against you.

Priced below retail. The ARV sits well above basis, so you're buying at a discount to finished value rather than paying for the upside.

Delivered broom clean at close. The interior is cleared out before you take the keys, so your rehab budget goes toward the renovation instead of emptying the house.

Apex fundamentals. Sustained population and job growth across the Triangle, good schools, downtown revitalization, and proximity to RTP and Raleigh. Buyer demand here has held up across cycles.

Flexible exit. Flip, BRRRR, or long-term hold all work at this spread.

Scope is optional. The $100,000 is an estimate, not a mandate. Full gut or targeted cosmetic, whichever fits your exit.

HIGHLIGHTS

• 5 bed / 3 bath, 2,800 sq ft on a 0.27-acre lot
• $186,000 projected gross spread
• ~33% spread over acquisition basis, real cushion for overruns
• Empty at close, all junk and personal property removed before you take possession
• Apex, NC, one of the strongest submarkets in the Triangle
• Multiple exit paths: flip, BRRRR, or hold
• Renovation scope flexible to your strategy

Entry into a market that gets harder to buy into every quarter. If you want your next flip, a rental to force appreciation on, or a portfolio addition in a proven submarket, this one is worth a call.

Access, showings, and the full deal package are available now.

Brazos Gadler | 336-770-2965