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10001 Devonshire Drive Huntersville, NC 28078

4 Beds 3 Baths 2,753 sqft Built 2002

$429,900

List Price

$2,290

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $156.16
  • 3 Days on Market
  • MLS # : 3699154
  • Updated Date : 01/15/2021 at 16:36
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,753 sqft
  • Baths : 2 full , 1 half
Listing Agent

Offerpad Brokerage Llc

Listing Agent's Description

VACANT! There is an old adage that says "kitchens sell homes" and this one sure seems to fit the profile! Take a look at this beautiful 4 bedroom, 2.5 bathroom home that has been recently renovated and has a lot of updates to enjoy! The hardwood floors have been refinished with a medium-tone stain that pairs both modern and classic styles to fit any décor. Aside from the hardwoods, all other flooring has been replaced, and the whole home has been painted a neutral gray color. The kitchen has brand new granite countertops, and the cabinets have been refinished in a two-tone style. The kitchen is finished in a bright white with a contrasting black center island which is home to a glass-top range. All of the bedrooms are spacious, with generous closets, and there are so many extras you're sure to love. This home is an absolute stunner at each step you take. Put it to the top of your list, and don't let this one slip by!

SEE MORE

MARKET HIGHLIGHTS

  • Corporate Fortune 500 headquarters: Bank of America, Lowe’s, Duke Energy, Nucor, Family Dollar Stores, Sonic Automotive, Domtar
  • #3 fastest-growing big city in US with more than 15,000 people added in 2017 (US Census, 2018)
  • Charlotte metro has 65.8% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)
  • Charlotte attracted more than $325 million in capital investments in 2018Q2 (Meckelenburg county, June 2018)
  • Charlotte metro's economy is worth $181 billion in Gross Metro Product and projected to grow to $192 billion in 2019 (USMayors.org, 2018)
  • #1 Millenial Moving destination city (Smart Asset)

PRICE & RENT TRENDS

Neighborhood: Birkdale

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380k400k420kPrice in $118k429k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Birkdale

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600170018001900200021002200Rent in $8442208

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Grand Oak Elementary School Primary Unknown 601 36 NA
Francis Bradley Middle School Middle Regular 1,140 59 6
Hopewell High School High Regular 1,653 87 3

Grand Oak Elementary School

  • Education Level: Primary
  • # of students: 601
  • # of teachers: 36
NA
GreatSchools Rating

Francis Bradley Middle School

  • Education Level: Middle
  • # of students: 1,140
  • # of teachers: 59
6
GreatSchools Rating

Hopewell High School

  • Education Level: High
  • # of students: 1,653
  • # of teachers: 87
3
GreatSchools Rating
 

$386,910$472,890$429,900

PURCHASE PRICE

$2,061$2,519$2,290

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,290
EXPENSES Loan Payment -$1,493
Property Tax -$409
Property Insurance -$79
HOA -$67
Property Management Fees -$119
CASH FLOW
$123

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$429,900

PROJECTED PRICE

$2,290

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 4.1%
Maintenance Year (1-5) 8.00%
Vacancy 6.31%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$119,674

INVESTMENT

$119,674

Down Payment
$107,475
Rehab Estimate
$5,750
Closing Costs
$6,449

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,493

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $107,475
Loan Amount $322,425
See What Happens When You Reinvest Cash Flow

7

YEARS SAVED

$36,219

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $2,290

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $2,292

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$2,290
1$2,2902$2,2953$2,2954$2,3005$2,300
$2,300
RENT COMPS ANALYSIS
  • 10001 Devonshire Drive Huntersville, NC 1
    • 4 beds 3 baths ∙ 2,753 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,753 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $2,290
    • $0.83
    •  
  • 8819 Singleton Court Huntersville, NC 2
    • 4 beds 3 baths ∙ 2,680 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,680 Sqft ∙ Built 2001
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.86
    •  
  • 14225 Bankside Drive Huntersville, NC 3
    • 4 beds 3 baths ∙ 2,878 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,878 Sqft ∙ Built 2002
    LEASED 11/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.80
    •  
  • 17033 Carlton Way Road Huntersville, NC 4
    • 4 beds 3 baths ∙ 2,728 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,728 Sqft ∙ Built 2002
    LEASED 06/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.84
    •  
  • 15805 Cordelia Oaks Lane Huntersville, NC 5
    • 4 beds 3 baths ∙ 2,782 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,782 Sqft ∙ Built 2002
    LEASED 10/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.83
    •  
PROPERTY LISTING DETAILS
Derek Dickson
1.704.810.1576
Offerpad Brokerage Llc
BESbswy