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10937 Huntington Meadow Lane Charlotte, NC 28273

4 Beds 3 Baths 2,855 sqft Built 2003

INVESTimate

$342,000

List Price

$1,930

$1,737 - $2,123

Rent Est.

$365,701  ( +6.93%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 2003
  • Price/Sqft : $119.79
  • 6 Days on Market
  • MLS # : 3650446
  • Updated Date : 08/25/2020 at 15:05
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,855 sqft
  • Baths : 3 full
Listing Agent

Allen Tate Steele Creek

Listing Agent's Description

This Shea built home has so much to offer! Step inside to the vaulted entryway with formal dining room to the right and a flex space which would be a great office or playroom to the left. Vaulted ceiling in great room with remote control blinds. Guest bedroom on main floor. Kitchen features 42" cherry cabinets, corian counters, tile back splash and stainless steel appliances. Primary bedroom and 2 spacious secondary bedrooms as well as huge bonus room on second level. The best room in the house is not even in the house! The huge paver patio will be your favorite place to entertain. Covered by a huge pergola that has mature vines growing across it offers shade all summer. Surrounded by a professionally landscaped yard w/ irrigation and privacy fence it is an outdoor lovers dream! There is a large shed as well for additional storage or a work space. Roof replaced in 2018. Great Steele Creek location. 1 year home warranty included.

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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

Neighborhood: Brown Road

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230kPrice in $100k235k

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

Neighborhood: Brown Road

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8421716

* 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
Lake Wylie Elementary School Primary Regular 632 39 6
Southwest Middle School Middle Regular 1,403 72 6
Math, Engineering, Technology And Science At Olympic High School High Regular 607 28 7

Lake Wylie Elementary School

  • Education Level: Primary
  • # of students: 632
  • # of teachers: 39
6
GreatSchools Rating

Southwest Middle School

  • Education Level: Middle
  • # of students: 1,403
  • # of teachers: 72
6
GreatSchools Rating

Math, Engineering, Technology And Science At Olympic High School

  • Education Level: High
  • # of students: 607
  • # of teachers: 28
7
GreatSchools Rating
 

$307,800$376,200$342,000

PURCHASE PRICE

$1,737$2,123$1,930

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,930
EXPENSES Loan Payment -$1,262
Property Tax -$332
Property Insurance -$81
HOA -$41
Property Management Fees -$174
CASH FLOW
$40

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.

$342,000

PROJECTED PRICE

$1,930

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 6.93%
Maintenance Year (1-5) 8.00%
Vacancy 6.57%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$96,380

INVESTMENT

$96,380

Down Payment
$85,500
Rehab Estimate
$5,750
Closing Costs
$5,130

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,262

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $85,500
Loan Amount $256,500
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$18,930

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,930

    LIST RENT
  • $0.68

    LIST RENT PER SQFT
  • $1,934

    COMP ESTIMATED VALUE
  • $0.68

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,8953$1,9304$1,9955$1,995
$1,995
RENT COMPS ANALYSIS
  • 10937 Huntington Meadow Lane Charlotte, NC 3
    • 4 beds 3 baths ∙ 2,855 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,855 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,930
    • $0.68
    •  
  • 11200 Laurel View Drive Charlotte, NC 1
    • 4 beds 3 baths ∙ 2,607 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,607 Sqft ∙ Built 1993
    LEASED 08/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.65
    •  
  • 14910 Alyssa Faith Court Charlotte, NC 2
    • 4 beds 3 baths ∙ 2,839 Sqft ∙ Built 2010 4 beds 3 baths ∙ 2,839 Sqft ∙ Built 2010
    LEASED 04/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.67
    •  
  • 12713 Wither Steele Court Charlotte, NC 4
    • 5 beds 3 baths ∙ 2,848 Sqft ∙ Built 2014 5 beds 3 baths ∙ 2,848 Sqft ∙ Built 2014
    LEASED 10/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.70
    •  
  • 15107 Callow Forest Drive Charlotte, NC 5
    • 4 beds 3 baths ∙ 2,878 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,878 Sqft ∙ Built 2005
    LEASED 05/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.69
    •  
PROPERTY LISTING DETAILS
Stephanie Wilfong
1.480.510.7378
Allen Tate Steele Creek
BESbswy