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10325 Blackstock Road Huntersville, NC 28078

4 Beds 3 Baths 2,848 sqft Built 1999

$399,000

List Price

$2,330

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $140.10
  • 6 Days on Market
  • MLS # : 3683410
  • Updated Date : 11/20/2020 at 14:52
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,848 sqft
  • Baths : 2 full , 1 half
Listing Agent

Lake Norman Realty Inc

Listing Agent's Description

Well maintained ONE OWNER home in the established Hampton Ridge community. Enjoy a convenient Huntersville location close to everything with community pool to enjoy! Laundry areas on both floors! Main level with hardwoods, Office with French Doors, Dining Room with chair rail, crown moldings, Half Bathroom with tile floor, Kitchen with 42" cabinets, island and two pantries and Great Room with gas log fireplace. Upper level Owner's Suite has tray ceiling, soaking tub, dual sink vanity and separate shower. The upper level also has Bedroom/Bonus Room and 3 additional Bedrooms with a 2nd Full Bathroom. Screen Porch and Rear Deck overlook a wooded rear yard with fish pond.

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: Hampton Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $118k585k

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

Neighborhood: Hampton Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000120014001600180020002200240026002800Rent in $8442955

* 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
J.v. Washam Elementary School Primary Regular 992 49 8
Bailey Middle School Middle Regular 1,616 77 9
William Amos Hough High School High Regular 2,453 120 8

J.v. Washam Elementary School

  • Education Level: Primary
  • # of students: 992
  • # of teachers: 49
8
GreatSchools Rating

Bailey Middle School

  • Education Level: Middle
  • # of students: 1,616
  • # of teachers: 77
9
GreatSchools Rating

William Amos Hough High School

  • Education Level: High
  • # of students: 2,453
  • # of teachers: 120
8
GreatSchools Rating
 

$359,100$438,900$399,000

PURCHASE PRICE

$2,097$2,563$2,330

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,330
EXPENSES Loan Payment -$1,472
Property Tax -$320
Property Insurance -$81
HOA -$36
Property Management Fees -$210
CASH FLOW
$211

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.

$399,000

PROJECTED PRICE

$2,330

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 5.4%
Maintenance Year (1-5) 8.00%
Vacancy 6.36%
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$1.4M

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$111,485

INVESTMENT

$111,485

Down Payment
$99,750
Rehab Estimate
$5,750
Closing Costs
$5,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,472

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $99,750
Loan Amount $299,250
See What Happens When You Reinvest Cash Flow

7.75

YEARS SAVED

$48,321

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,330

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $2,321

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$2,089
1$2,0892$2,3003$2,3304$2,4955$2,500
$2,500
RENT COMPS ANALYSIS
  • 10325 Blackstock Road Huntersville, NC 3
    • 4 beds 3 baths ∙ 2,848 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,848 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $2,330
    • $0.82
    •  
  • 16908 Glassfield Drive Huntersville, NC 1
    • 4 beds 3 baths ∙ 2,795 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,795 Sqft ∙ Built 1999
    LEASED 12/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,089
    • $0.75
    •  
  • 16712 Hampton Crossing Drive Huntersville, NC 2
    • 4 beds 3 baths ∙ 2,930 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,930 Sqft ∙ Built 1996
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.78
    •  
  • 10205 Blackstock Road Huntersville, NC 4
    • 4 beds 3 baths ∙ 2,998 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,998 Sqft ∙ Built 2000
    LEASED 11/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.83
    •  
  • 10415 Blackstock Road Huntersville, NC 5
    • 4 beds 3 baths ∙ 2,775 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,775 Sqft ∙ Built 2001
    LEASED 06/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.90
    •  
PROPERTY LISTING DETAILS
Debbie Monroe
1.704.533.0444
Lake Norman Realty Inc
BESbswy