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105 Marquette Drive Mount Holly, NC 28120

3 Beds 2 Baths 2,003 sqft Built 2012

$312,000

List Price

$1,640

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

December 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2012
  • Price/Sqft : $155.77
  • 2 Days on Market
  • MLS # : 3692670
  • Updated Date : 12/19/2020 at 16:52
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,003 sqft
  • Baths : 2 full
Listing Agent

Better Homes And Gardens Real Estate Paracle

Listing Agent's Description

Stunning home like new on a quiet neighborhood of Dutchmans Ridge in Mount Holly. This beautiful home has too many options to mention. Vaulted and 9ft ceilings in the family room and throughout the first floor. Deluxe master bath with garden tub, and huge walk-in closet. Separate elegant dining room with architectural columns. Extremely well maintained home. Spacious bonus room with plenty of room to entertain. Lovely gourmet kitchen with lots of cabinets, bar top counter, and walk-in pantry. Hardwood floors, new carpet in bedrooms and hallways March 2020, patio enlarged. Home is located in a friendly community with a community pool.

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
Stuart W. Cramer High School High Regular 782 45 NA

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

Stuart W. Cramer High School

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

$280,800$343,200$312,000

PURCHASE PRICE

$1,476$1,804$1,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,640
EXPENSES Loan Payment -$1,151
Property Tax -$370
Property Insurance -$65
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 15% of earned rent to cover both maintenance and periods of vacancy.

$312,000

PROJECTED PRICE

$1,640

PROJECTED RENT

0.53%

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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$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$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$88,430

INVESTMENT

$88,430

Down Payment
$78,000
Rehab Estimate
$5,750
Closing Costs
$4,680

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,151

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $78,000
Loan Amount $234,000
See What Happens When You Reinvest Cash Flow

4

YEARS SAVED

$13,485

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,640

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $1,517

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$1,445
1$1,4452$1,4953$1,4954$1,4955$1,640
$1,640
RENT COMPS ANALYSIS
  • 105 Marquette Drive Mount Holly, NC 5
    • 3 beds 2 baths ∙ 2,003 Sqft ∙ Built 2012 3 beds 2 baths ∙ 2,003 Sqft ∙ Built 2012
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,640
    • $0.82
    •  
  • 33 Ashton Bluff Circle Mount Holly, NC 1
    • 3 beds 3 baths ∙ 2,001 Sqft ∙ Built 2014 3 beds 3 baths ∙ 2,001 Sqft ∙ Built 2014
    property image
    LEASED 10/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,445
    • $0.72
    •  
  • 216 Dutchmans Meadow Drive Mount Holly, NC 2
    • 3 beds 3 baths ∙ 2,114 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,114 Sqft ∙ Built 2003
    property image
    LEASED 07/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.71
    •  
  • 428 Augustus Lane Mount Holly, NC 3
    • 3 beds 3 baths ∙ 2,005 Sqft ∙ Built 2009 3 beds 3 baths ∙ 2,005 Sqft ∙ Built 2009
    property image
    LEASED 04/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.75
    •  
  • 133 Whitby Drive Mount Holly, NC 4
    • 3 beds 2 baths ∙ 1,854 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,854 Sqft ∙ Built 2005
    property image
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.81
    •  
PROPERTY LISTING DETAILS
Tyler Goldsmith
1.704.759.6639
Better Homes And Gardens Real Estate Paracle
BESbswy