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104 Bell Street Mount Holly, NC 28120

4 Beds 2 Baths 1,482 sqft Built 1961

$224,900

List Price

$1,340

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1961
  • Price/Sqft : $151.75
  • 2 Days on Market
  • MLS # : 3703586
  • Updated Date : 01/30/2021 at 21:32
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,482 sqft
  • Baths : 2 full
Listing Agent

Blue Real Estate Group Llc

Listing Agent's Description

This great ranch has been given a face lift and it is now the hidden gem in Mt. Holly! This corner lot with two storage buildings is located near groceries and dinner. No HOA makes this a great neighborhood for those looking for some freedom. Enjoy all that Mt. Holly has to offer in your own great house!

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

Zip Code: 28120

ZipNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210kPrice in $110k213k

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

Zip Code: 28120

ZipNIR Market*CityMarket2010Year20002019 Q2850900950100010501100115012001250130013501400Rent in $8231440

* 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
Rankin Elementary School Primary Regular 659 34 6
Mount Holly Middle School Middle Regular 771 41 7
Stuart W. Cramer High School High Regular 782 45 NA

Rankin Elementary School

  • Education Level: Primary
  • # of students: 659
  • # of teachers: 34
6
GreatSchools Rating

Mount Holly Middle School

  • Education Level: Middle
  • # of students: 771
  • # of teachers: 41
7
GreatSchools Rating

Stuart W. Cramer High School

  • Education Level: High
  • # of students: 782
  • # of teachers: 45
NA
GreatSchools Rating
 

$202,410$247,390$224,900

PURCHASE PRICE

$1,206$1,474$1,340

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,340
EXPENSES Loan Payment -$781
Property Tax -$267
Property Insurance -$55
Property Management Fees -$119
CASH FLOW
$118

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$224,900

PROJECTED PRICE

$1,340

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 5.1%
Maintenance Year (1-5) 8.00%
Vacancy 6.57%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$65,349

INVESTMENT

$65,349

Down Payment
$56,225
Rehab Estimate
$5,750
Closing Costs
$3,374

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$781

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $56,225
Loan Amount $168,675
See What Happens When You Reinvest Cash Flow

7.5

YEARS SAVED

$21,025

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,340

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,265

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,150
1$1,1502$1,1503$1,2954$1,340
$1,340
RENT COMPS ANALYSIS
  • 104 Bell Street Mount Holly, NC 4
    • 4 beds 2 baths ∙ 1,482 Sqft ∙ Built 1961 4 beds 2 baths ∙ 1,482 Sqft ∙ Built 1961
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,340
    • $0.90
    •  
  • 202 Margarette Avenue Belmont, NC 1
    • 3 beds 1 baths ∙ 1,308 Sqft ∙ Built 1955 3 beds 1 baths ∙ 1,308 Sqft ∙ Built 1955
    property image
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $0.88
    •  
  • 433 Meller Street Mount Holly, NC 2
    • 3 beds 1 baths ∙ 1,402 Sqft ∙ Built 1920 3 beds 1 baths ∙ 1,402 Sqft ∙ Built 1920
    property image
    LEASED 12/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $0.82
    •  
  • 101 Sweetbriar Court Mount Holly, NC 3
    • 3 beds 3 baths ∙ 1,505 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,505 Sqft ∙ Built 1999
    property image
    LEASED 02/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.86
    •  
PROPERTY LISTING DETAILS
Todd Pierceall
1.980.329.6294
Blue Real Estate Group Llc
BESbswy