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10219 Lafoy Drive Huntersville, NC 28078

5 Beds 4 Baths 2,948 sqft Built 2001

INVESTimate

$409,900

List Price

$2,170

$1,953 - $2,387

Rent Est.

$424,410  ( +3.54%)   1 YR EST. FORECAST

PROPERTY INFO

August 24, 2020 RECENTLY ADDED
FACTS
  • Built In 2001
  • Price/Sqft : $139.04
  • 3 Days on Market
  • MLS # : 3651028
  • Updated Date : 08/25/2020 at 16:58
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,948 sqft
  • Baths : 3 full , 1 half
Listing Agent

Ellebee Realty And Associates

Listing Agent's Description

Gorgeous home situated on the 3rd Tee Box of the highly desirable community of Skybrook. This home has all of the bells and whistles including a great view of the golf course! Granite and custom cabinetry in the kitchen along with beautiful hardwoods throughout the main level. Owner's suite is on the main level that leads to a spacious bathroom. Kitchen opens up to the great room and is connected to the dining room by a Butler's pantry. 4 bedrooms upstairs, 2 with their own full bathrooms...1 bedroom is great for a media room and 1 other bedroom is great for an office if needed. Great walk in storage. Enjoy your coffee on the covered front porch or enjoy watching the golfing go by in your wooded back yard atop a beautiful deck.

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: Skybrook

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $118k410k

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

Neighborhood: Skybrook

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001200140016001800200022002400Rent in $8442520

* 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
Blythe Elementary School Primary Regular 1,038 67 5
J.m. Alexander Middle School Middle Regular 865 40 4
North Mecklenburg High School High Regular 1,881 101 3

Blythe Elementary School

  • Education Level: Primary
  • # of students: 1,038
  • # of teachers: 67
5
GreatSchools Rating

J.m. Alexander Middle School

  • Education Level: Middle
  • # of students: 865
  • # of teachers: 40
4
GreatSchools Rating

North Mecklenburg High School

  • Education Level: High
  • # of students: 1,881
  • # of teachers: 101
3
GreatSchools Rating
 

$368,910$450,890$409,900

PURCHASE PRICE

$1,953$2,387$2,170

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,170
EXPENSES Loan Payment -$1,512
Property Tax -$381
Property Insurance -$83
HOA -$48
Property Management Fees -$195
CASH FLOW
-$49

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.

$409,900

PROJECTED PRICE

$2,170

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 3.54%
Maintenance Year (1-5) 8.00%
Vacancy 6.31%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$114,374

INVESTMENT

$114,374

Down Payment
$102,475
Rehab Estimate
$5,750
Closing Costs
$6,149

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,512

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $102,475
Loan Amount $307,425
See What Happens When You Reinvest Cash Flow

4.08

YEARS SAVED

$19,163

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,170

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $2,152

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,0953$2,1704$2,2005$2,250
$2,250
RENT COMPS ANALYSIS
  • 10219 Lafoy Drive Huntersville, NC 3
    • 5 beds 4 baths ∙ 2,948 Sqft ∙ Built 2001 5 beds 4 baths ∙ 2,948 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $2,170
    • $0.74
    •  
  • 10355 Rutledge Ridge Drive Nw Huntersville, NC 1
    • 5 beds 3 baths ∙ 2,773 Sqft ∙ Built 2015 5 beds 3 baths ∙ 2,773 Sqft ∙ Built 2015
    LEASED 04/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.72
    •  
  • 1258 Bridgeford Drive Huntersville, NC 2
    • 5 beds 4 baths ∙ 2,814 Sqft ∙ Built 2009 5 beds 4 baths ∙ 2,814 Sqft ∙ Built 2009
    LEASED 06/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.74
    •  
  • 632 Lorain Avenue Nw Concord, NC 4
    • 5 beds 3 baths ∙ 2,909 Sqft ∙ Built 2006 5 beds 3 baths ∙ 2,909 Sqft ∙ Built 2006
    LEASED 06/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.76
    •  
  • 714 Richland Drive Huntersville, NC 5
    • 4 beds 4 baths ∙ 3,214 Sqft ∙ Built 2005 4 beds 4 baths ∙ 3,214 Sqft ∙ Built 2005
    LEASED 03/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.70
    •  
PROPERTY LISTING DETAILS
Brad Baranowski
1.704.534.0952
Ellebee Realty And Associates
BESbswy