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104 Greenway View Court Mount Holly, NC 28120

5 Beds 3 Baths 2,850 sqft Built 2015

$300,200

List Price

$1,790

$1.6K - $2K

Rent Est.

PROPERTY INFO

December 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $105.33
  • 3 Days on Market
  • MLS # : 3691791
  • Updated Date : 12/18/2020 at 15:36
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,850 sqft
  • Baths : 2 full , 1 half
Listing Agent

Mark Spain Real Estate

Listing Agent's Description

This beautiful, 5 bedroom, 2.5 bath in Kendrick Farm won’t last long! Located just minutes to I85 & I485 in Gaston County.This home is a one owner and maintained very well. Complete with a 2 car attached garage, granite counter tops in kitchen, all stainless steel appliances. After a long day, kick back and relax on the hardscape patio.

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
Pinewood Elementary School Primary Regular 581 34 6
Mount Holly Middle School Middle Regular 771 41 7
East Gaston High School High Regular 1,122 67 5

Pinewood Elementary School

  • Education Level: Primary
  • # of students: 581
  • # of teachers: 34
6
GreatSchools Rating

Mount Holly Middle School

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

East Gaston High School

  • Education Level: High
  • # of students: 1,122
  • # of teachers: 67
5
GreatSchools Rating
 

$270,180$330,220$300,200

PURCHASE PRICE

$1,611$1,969$1,790

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,790
EXPENSES Loan Payment -$1,108
Property Tax -$356
Property Insurance -$81
Property Management Fees -$119
CASH FLOW
$127

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.

$300,200

PROJECTED PRICE

$1,790

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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,303

INVESTMENT

$85,303

Down Payment
$75,050
Rehab Estimate
$5,750
Closing Costs
$4,503

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,108

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $75,050
Loan Amount $225,150
See What Happens When You Reinvest Cash Flow

7.17

YEARS SAVED

$30,073

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,790

    LIST RENT
  • $0.63

    LIST RENT PER SQFT
  • $1,753

    COMP ESTIMATED VALUE
  • $0.62

    COMP AVG. RENT PER SQFT
Comps Range
$1,545
1$1,5452$1,7903$2,000
$2,000
RENT COMPS ANALYSIS
  • 104 Greenway View Court Mount Holly, NC 2
    • 5 beds 3 baths ∙ 2,850 Sqft ∙ Built 2015 5 beds 3 baths ∙ 2,850 Sqft ∙ Built 2015
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,790
    • $0.63
    •  
  • 124 Fawn Ridge Court Mount Holly, NC 1
    • 4 beds 3 baths ∙ 3,059 Sqft ∙ Built 2007 4 beds 3 baths ∙ 3,059 Sqft ∙ Built 2007
    property image
    LEASED 11/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,545
    • $0.51
    •  
  • 2008 Mt Isle Harbor Drive Charlotte, NC 3
    • 4 beds 3 baths ∙ 2,774 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,774 Sqft ∙ Built 2000
    property image
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.72
    •  
PROPERTY LISTING DETAILS
Rachel Alles
1.855.299.7653
Mark Spain Real Estate
BESbswy