Do you think this would be a good Minecraft Server Build?

Hello, instead of paying all this money on online servers, or hosting off my little laptop, I want to build a server dedicated to Minecraft. I will be setting up Multicraft on Linux for easy use around my house and I will be hosting servers for other friends aswell.
I would like to know if the performance of these specs will be good for Minecraft.

CPU: Intel Pentium G4400

GPU: Zotac GeForce GT 630 Synergy Edition

MB: Gigabyte GA-H110M-A

RAM: Crucial 8GB (1 x 8GB) DDR4-2133

SSD: Kingston SSDNow v300 Series 120GB

CASE: Cooler Master N200 MicroATX Mid Tower Case

PSU: EVGA 500W 80+ Plus Bronze

This is what I could afford on my budget.
Would this be good enough for a server? Will the server be fast, non-laggy?

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