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PROPERTY INFO
FACTS
- Built In 2005
- Price/Sqft : $149.79
- 5 Days on Market
- MLS # : 3676388
- Updated Date : 11/02/2020 at 15:04
CONSTRUCTION
- Beds : 3
- Floor Size : 2,370 sqft
- Baths : 3 full
Listing Agent
Allen Tate Matthews/mint Hill
Listing Agent's Description
Prestine ranch in sought after Brighton Park. Second floor has large bonus room with full bth. Charming front porch welcomes you to this lovely home. Foyer and dining room have picture frame and crown molding. Kitchen has corian counter tops, 42 in. cabinets, tile back splash and breakfastbar all open to large greatroom with gas fireplace and high tray ceiling. Pleanty windows all with plantation shutters make this a light and bright room. Master bedroom has a bay window sitting area perfect for reading and relaxing. Master bath has tile floor, garden tub and seperate shower. This is a split bedroom plan with a full bath. Hardwood floors throughtout the home and tile in the bathrooms. Manicured fenced yard. Outside recently painted, all windows have plantation shutters. Irrigation, HVAC surviced twice a year, new roof in 2020. Refriferator, washer and dryer and play set remains. Home is being sold "As is/Where is". Closing after Nov 25, 2020.
SEE MORE
- 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)
- 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)
PRICE & RENT TRENDS
Neighborhood: Downtown Mint Hill
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Downtown Mint Hill
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,840 |
| EXPENSES | Loan Payment | -$1,310 |
| Property Tax | -$274 | |
| Property Insurance | -$72 | |
| HOA | -$42 | |
| Property Management Fees | -$166 | |
|
CASH FLOW
-$23
|
||
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.
$355,000
PROJECTED PRICE
$1,840
PROJECTED RENT
0.52%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.48% |
| Appreciation Year (1-5) | 4.7% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.31% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$99,825
LOAN DETAILS
$1,310
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $88,750 |
| Loan Amount | $266,250 |
4.42
YEARS SAVED
$18,870
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,840
LIST RENT -
$0.78
LIST RENT PER SQFT
-
$1,855
COMP ESTIMATED VALUE -
$0.78
COMP AVG. RENT PER SQFT
Comps Range
-
10221 Misty Moss Court Mint Hill, NC 3
- 3 beds 3 baths ∙ 2,370 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,370 Sqft ∙ Built 2005
![property image]()
- Rent
- Rent Per SQFT
- $1,840
- $0.78
-
6417 Hove Road Mint Hill, NC 1
- 4 beds 3 baths ∙ 2,397 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,397 Sqft ∙ Built 2007
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LEASED 01/17/20- Rent
- Rent Per SQFT
- $1,795
- $0.75
-
5104 Soaring Eagle Lane Mint Hill, NC 2
- 3 beds 2 baths ∙ 2,321 Sqft ∙ Built 2006 3 beds 2 baths ∙ 2,321 Sqft ∙ Built 2006
![property image]()
LEASED 08/07/20- Rent
- Rent Per SQFT
- $1,800
- $0.78
-
5838 Whitehawk Hill Road Mint Hill, NC 4
- 4 beds 3 baths ∙ 2,480 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,480 Sqft ∙ Built 2015
![property image]()
LEASED 10/16/20- Rent
- Rent Per SQFT
- $1,975
- $0.80
-
10333 Misty Moss Court Mint Hill, NC 5
- 3 beds 3 baths ∙ 2,540 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,540 Sqft ∙ Built 2005
![property image]()
LEASED 12/05/19- Rent
- Rent Per SQFT
- $2,100
- $0.83
PROPERTY LISTING DETAILS
1.704.534.3456
Allen Tate Matthews/mint Hill
