Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

10388 Hillsborough Street Huntersville, NC 28078

5 Beds 4 Baths 3,485 sqft Built 2016

$415,000

List Price

$2,220

$2K - $2.4K

Rent Est.

PROPERTY INFO

January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $119.08
  • 3 Days on Market
  • MLS # : 3696502
  • Updated Date : 01/09/2021 at 16:38
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,485 sqft
  • Baths : 3 full , 1 half
Listing Agent

Lantern Realty & Development Llc

Listing Agent's Description

Welcome Home to this desirable Huntersville address with Cabarrus Co taxes! This move in ready 2.5 story home with 2 car garage features 5 Bedrooms, 3.5 baths, a Loft and a Bonus Room!! As you enter the Foyer you are greeted by a flex space with french doors, perfect for an Office or Study! Formal Dining Room features beautiful crown molding which flows into the Great Room & Breakfast area. Generous sized Great Room includes a gas FP with shiplap accent wall. Kitchen features a granite countertops, tile backsplash, center island, breakfast bar and gigantic walk in Pantry!! Main level features hardwoods throughout. The second floor features a Loft, spacious secondary Bedrooms with generous sized closets, Laundry Room, Large Master Suite offering dual vanities, garden tub and a separate walk in shower. The Third level includes large Bonus Room, (think Theater or Game room), a Bedroom and a full bath. Second and third levels have new LVP flooring, Upgraded lights throughout the home.

SEE MORE

MARKET HIGHLIGHTS

  • 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: Fullerton Place

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $118k325k

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

Neighborhood: Fullerton Place

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600170018001900Rent in $8441904

* 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
W R Odell Elementary School Primary Regular 882 52 NA
Harris Road Middle School Middle Regular 1,185 63 9
Cox Mill High School High Regular 1,478 76 7

W R Odell Elementary School

  • Education Level: Primary
  • # of students: 882
  • # of teachers: 52
NA
GreatSchools Rating

Harris Road Middle School

  • Education Level: Middle
  • # of students: 1,185
  • # of teachers: 63
9
GreatSchools Rating

Cox Mill High School

  • Education Level: High
  • # of students: 1,478
  • # of teachers: 76
7
GreatSchools Rating
 

$373,500$456,500$415,000

PURCHASE PRICE

$1,998$2,442$2,220

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,220
EXPENSES Loan Payment -$1,441
Property Tax -$456
Property Insurance -$93
HOA -$46
Property Management Fees -$119
CASH FLOW
$65

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.

$415,000

PROJECTED PRICE

$2,220

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 4.9%
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$1.2M

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$115,725

INVESTMENT

$115,725

Down Payment
$103,750
Rehab Estimate
$5,750
Closing Costs
$6,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,441

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $103,750
Loan Amount $311,250
See What Happens When You Reinvest Cash Flow

6.17

YEARS SAVED

$29,060

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,220

    LIST RENT
  • $0.64

    LIST RENT PER SQFT
  • $2,309

    COMP ESTIMATED VALUE
  • $0.66

    COMP AVG. RENT PER SQFT
Comps Range
$2,050
1$2,0502$2,2003$2,2004$2,2205$2,600
$2,600
RENT COMPS ANALYSIS
  • 10388 Hillsborough Street Huntersville, NC 4
    • 5 beds 4 baths ∙ 3,485 Sqft ∙ Built 2016 5 beds 4 baths ∙ 3,485 Sqft ∙ Built 2016
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,220
    • $0.64
    •  
  • 10685 Skipping Rock Lane Nw Concord, NC 1
    • 6 beds 5 baths ∙ 3,440 Sqft ∙ Built 2015 6 beds 5 baths ∙ 3,440 Sqft ∙ Built 2015
    property image
    LEASED 01/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.60
    •  
  • 9823 Shearwater Avenue Nw Concord, NC 2
    • 4 beds 3 baths ∙ 3,305 Sqft ∙ Built 2014 4 beds 3 baths ∙ 3,305 Sqft ∙ Built 2014
    property image
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.67
    •  
  • 1267 Middlecrest Drive Concord, NC 3
    • 5 beds 3 baths ∙ 3,200 Sqft ∙ Built 2009 5 beds 3 baths ∙ 3,200 Sqft ∙ Built 2009
    property image
    LEASED 07/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.69
    •  
  • 9887 Fern Dancer Court Concord, NC 5
    • 5 beds 3 baths ∙ 3,783 Sqft ∙ Built 2009 5 beds 3 baths ∙ 3,783 Sqft ∙ Built 2009
    property image
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.69
    •  
PROPERTY LISTING DETAILS
Lisa Pricher
1.704.288.7392
Lantern Realty & Development Llc
BESbswy