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    753 Finnbar Dr Cary, NC 27519

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    For Sale
    $495,000

    Villa in 55+ community with upgrades and private lot.

    Lot size:
    0.10 Acres

    Property Features for 753 Finnbar Dr

    General Information

    Lot size
    0.10 Acres
    Exterior features
    exterior_features, : ["Patio", "Porch", "Cable Available", "Electricity Connected", "Natural Gas Connected", "Sewer Connected", "Water Connected", "Underground Utilities", "Shingle"]
    Interior features
    Interior Feature 1, : "Central Air", "Interior Feature 2": "Forced Air", "Interior Feature 3": "Natural Gas", "Interior Feature 4": "Dishwasher", "Interior Feature 5": "Disposal", "Interior Feature 6": "Dryer", "Interior Feature 7": "Electric Range", "Interior Feature 8": "Electric Water Heater", "Interior Feature 9": "Ice Maker", "Interior Feature 10": "Microwave", "Interior Feature 11": "Plumbed For Ice Maker", "Interior Feature 12": "Refrigerator", "Interior Feature 13": "Stainless Steel Appliance(s)", "Interior Feature 14": "Washer"

    Building Details

    Year built
    2011

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    Listing Contact
    Jane Lee
    Source: Kw

    Listing Agent: Jane Lee

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Cary Villa in Active Community

    This villa features a floor plan situated on a private lot. The screened porch, equipped with new screens, offers panoramic views. Recent upgrades include a newer roof, electric range (plumbed for gas), luxury vinyl tiled kitchen floor, and water heater. Hardwood floors are present in the living room, dining room, and hallway. The kitchen and dining area include granite counters, two pantry areas, stainless steel appliances, and sliding doors that lead to the screened porch and patio. The primary bedroom features a private bath with dual vanities, a separate water closet, and a walk-in closet. There is also a private office or den, a guest room, and a bath. The two-car garage has pull-down stairs for storage access. The Homeowner's Association (HOA) maintains the yard, termite control, and irrigation system. This property is located within an award-winning 55+ active adult community with indoor and outdoor amenities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Single family properties

    Suggested Use

    Realty agency Restaurant Spa & Massage Dental Office Hair Salon Clothing Store Gym & Fitness Skin Care Clinic Accounting Firm Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Cary
    County
    Wake
    State
    North Carolina
    Longitude
    -78.9110816
    Latitude
    35.8419152

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    FAQs

    What type of property is this?
    Single family property - Villa in 55+ community with upgrades and private lot.
    Where is this single family property located?
    The property is located at 753 Finnbar Dr Cary, NC.
    What is the asking price?
    The asking price for this property is $495,000.
    What are key features of this property?
    This property features: - Award-winning 55+ active adult community with top-notch indoor and outdoor amenities.; - HOA maintains the yard, termite control, and irrigation system.; - Panoramic nature views from a screened porch with new screens.
    Request Owner's contact information
    753 Finnbar Dr Cary, NC 27519
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    Cary, NC 27519
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    753 Finnbar Dr Cary, NC 27519
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