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1005 Hercules Drive Indian Trail, NC 28079

4 Beds 3 Baths 2,659 sqft Built 2016

$349,900

List Price

$1,850

$1.7K - $2K

Rent Est.

PROPERTY INFO

November 22, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $131.59
  • 3 Days on Market
  • MLS # : 3677662
  • Updated Date : 11/22/2020 at 00:05
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,659 sqft
  • Baths : 3 full
Listing Agent

Carlson & Company Real Estate

Listing Agent's Description

Welcome Home to this like new Indian Trail 4 bedroom 3 Full bath patio home offering low maintenance and an elegant feel with 10 ft ceilings. Large master on the main with an additional bedroom and full bath make this first floor very functional. This light, bright and open living space has a private side patio. The large kitchen as ample cabinets and counter space with a open kitchen and living space. This chefs kitchen with a spacious bar and generous counter space, upgraded cabinets and two massive pantry locations. The Formal dining or office adds to the options on the first floor. Upstairs you will find this home continues to live well with a bedroom, enormous bonus room PLUS a 200 sq ft unfinished storage area that can easily be converted if needed with just sheetrock. This home is located in a amenity filled Equestrian community that is pedestrian friendly and ready for all generations. Close to the Monroe By Pass and other main roads to all for favorite spots.

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

Zip Code: 28079

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $118k318k

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

Zip Code: 28079

ZipNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8441809

* 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
Poplin Elementary School Primary Regular 719 40 7
Porter Ridge Middle School Middle Regular 1,385 72 7
Porter Ridge High School High Regular 1,591 77 7

Poplin Elementary School

  • Education Level: Primary
  • # of students: 719
  • # of teachers: 40
7
GreatSchools Rating

Porter Ridge Middle School

  • Education Level: Middle
  • # of students: 1,385
  • # of teachers: 72
7
GreatSchools Rating

Porter Ridge High School

  • Education Level: High
  • # of students: 1,591
  • # of teachers: 77
7
GreatSchools Rating
 

$314,910$384,890$349,900

PURCHASE PRICE

$1,665$2,035$1,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,850
EXPENSES Loan Payment -$1,291
Property Tax -$229
Property Insurance -$77
HOA -$167
Property Management Fees -$167
CASH FLOW
-$80

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.

$349,900

PROJECTED PRICE

$1,850

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 6.3%
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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$98,474

INVESTMENT

$98,474

Down Payment
$87,475
Rehab Estimate
$5,750
Closing Costs
$5,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,291

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,475
Loan Amount $262,425
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$12,802

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,850

    LIST RENT
  • $0.7

    LIST RENT PER SQFT
  • $1,881

    COMP ESTIMATED VALUE
  • $0.71

    COMP AVG. RENT PER SQFT
Comps Range
$1,645
1$1,6452$1,7003$1,8504$1,9455$2,100
$2,100
RENT COMPS ANALYSIS
  • 1005 Hercules Drive Indian Trail, NC 3
    • 4 beds 3 baths ∙ 2,659 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,659 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.70
    •  
  • 3010 Thistlewood Circle Indian Trail, NC 1
    • 4 beds 3 baths ∙ 2,468 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,468 Sqft ∙ Built 2004
    LEASED 12/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,645
    • $0.67
    •  
  • 1003 Garden Web Road Indian Trail, NC 2
    • 4 beds 2 baths ∙ 2,424 Sqft ∙ Built 2012 4 beds 2 baths ∙ 2,424 Sqft ∙ Built 2012
    LEASED 10/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.70
    •  
  • 3003 Filly Drive Indian Trail, NC 4
    • 5 beds 4 baths ∙ 2,654 Sqft ∙ Built 2005 5 beds 4 baths ∙ 2,654 Sqft ∙ Built 2005
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,945
    • $0.73
    •  
  • 1014 Equipoise Drive Indian Trail, NC 5
    • 5 beds 3 baths ∙ 2,879 Sqft ∙ Built 2013 5 beds 3 baths ∙ 2,879 Sqft ∙ Built 2013
    LEASED 09/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.73
    •  
PROPERTY LISTING DETAILS
Tanya Carlson
1.704.975.6605
Carlson & Company Real Estate
BESbswy