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10333 Willingham Road Huntersville, NC 28078

4 Beds 3 Baths 2,232 sqft Built 1999

$359,900

List Price

$2,010

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

November 16, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $161.25
  • 7 Days on Market
  • MLS # : 3682756
  • Updated Date : 11/16/2020 at 18:50
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,232 sqft
  • Baths : 2 full , 1 half
Listing Agent

Ideal Realty Inc

Listing Agent's Description

Fabulous well maintained 2 story home in Hampton Ridge. Lower level hardwood floors, welcoming foyer, formal dining with moldings & bay window, open kitchen with ceramic tile floor, tile backsplash, stainless steel appliances, flat top stove, bar seating, pantry & eat-in breakfast area overlooking the great room with gas fireplace, owner's suite with bay window, walk-in closet & private bath, spacious secondary bedrooms, large laundry room & wood deck overlooking nicely landscaped fenced backyard. WOW!

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
 

$323,910$395,890$359,900

PURCHASE PRICE

$1,809$2,211$2,010

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,010
EXPENSES Loan Payment -$1,328
Property Tax -$289
Property Insurance -$69
HOA -$36
Property Management Fees -$181
CASH FLOW
$107

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.

$359,900

PROJECTED PRICE

$2,010

PROJECTED RENT

0.56%

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

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$101,124

INVESTMENT

$101,124

Down Payment
$89,975
Rehab Estimate
$5,750
Closing Costs
$5,399

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,328

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $89,975
Loan Amount $269,925
See What Happens When You Reinvest Cash Flow

6.58

YEARS SAVED

$34,014

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,010

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,986

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,9003$1,9454$1,9455$2,010
$2,010
RENT COMPS ANALYSIS
  • 10333 Willingham Road Huntersville, NC 5
    • 4 beds 3 baths ∙ 2,232 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,232 Sqft ∙ Built 1999
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,010
    • $0.90
    •  
  • 17008 Knoxwood Drive Huntersville, NC 1
    • 3 beds 2 baths ∙ 2,055 Sqft ∙ Built 1988 3 beds 2 baths ∙ 2,055 Sqft ∙ Built 1988
    property image
    LEASED 07/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.87
    •  
  • 10304 Friarsgate Road Huntersville, NC 2
    • 4 beds 3 baths ∙ 2,337 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,337 Sqft ∙ Built 1998
    property image
    LEASED 03/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.81
    •  
  • 10419 Blackstock Road Huntersville, NC 3
    • 4 beds 3 baths ∙ 2,111 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,111 Sqft ∙ Built 2000
    property image
    LEASED 05/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,945
    • $0.92
    •  
  • 10226 Blackstock Road Huntersville, NC 4
    • 4 beds 3 baths ∙ 2,111 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,111 Sqft ∙ Built 1999
    property image
    LEASED 03/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,945
    • $0.92
    •  
PROPERTY LISTING DETAILS
Chris Rogalski
1.704.400.7442
Ideal Realty Inc
BESbswy