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PROPERTY INFO
FACTS
- Single Family
- Built In 2014
- Price/Sqft : $99.37
- 4 Days on Market
- MLS # : 3697533
- Updated Date : 01/16/2021 at 15:03
CONSTRUCTION
- Beds : 5
- Floor Size : 3,019 sqft
- Baths : 3 full
Listing Agent
Keller Williams South Park
Listing Agent's Description
Multiple offers received. Highest and best due by 9pm Sunday 1/17/2021. Seller plans to pick an offer by noon on Monday 1/18/2021. Meticulously maintained by original owners. This move-in ready home is perfect for entertaining; boasting a spacious great room and kitchen, ideal outdoor living space with a large covered patio, tv and bar! Many new upgrades to the home give it a luxurious feel including wainscot paneling, detailed crown molding, new granite, stainless steel appliances, luxury vinyl plank flooring and fresh paint throughout. Downstairs has a guest bedroom, office and full bath. Upstairs you will find a large loft as another perfect place for entertaining, laundry room, master bedroom w ensuite, 3 more bedrooms and a third full bathroom. Extremely sought-after, family-oriented neighborhood in Mt. Holly with community center and large pool and only 4 doors down from playground!
SEE MORE
- 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
Zip Code: 28120
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 28120
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,710 |
| EXPENSES | Loan Payment | -$1,042 |
| Property Tax | -$356 | |
| Property Insurance | -$84 | |
| HOA | -$42 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$68
|
||
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.
$300,000
PROJECTED PRICE
$1,710
PROJECTED RENT
0.57%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$85,250
LOAN DETAILS
$1,042
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $75,000 |
| Loan Amount | $225,000 |
5.67
YEARS SAVED
$19,084
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,710
LIST RENT -
$0.57
LIST RENT PER SQFT
-
$1,540
COMP ESTIMATED VALUE -
$0.51
COMP AVG. RENT PER SQFT
Comps Range
-
104 Kendrick Meadow Lane Mount Holly, NC 2
- 5 beds 3 baths ∙ 3,019 Sqft ∙ Built 2014 5 beds 3 baths ∙ 3,019 Sqft ∙ Built 2014
- Rent
- Rent Per SQFT
- $1,710
- $0.57
-
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
LEASED 11/05/19- Rent
- Rent Per SQFT
- $1,545
- $0.51
PROPERTY LISTING DETAILS
1.704.877.4689
Keller Williams South Park
