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1100 Hunter Street Statesville, NC 28677

3 Beds 3 Baths 1,418 sqft Built 2014

$205,000

List Price

$1,150

$1K - $1.3K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $144.57
  • 3 Days on Market
  • MLS # : 3678669
  • Updated Date : 11/13/2020 at 00:08
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,418 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Mooresville

Listing Agent's Description

You will love this charming two story home. MOVE IN READY and just waiting for it's new owners. Come to see this gorgeous situated in the friendly community of Valley Brook in Statesville. Welcome home to this wonderful open concept in the main floor, excellent for entertaining visitors. All bedrooms and laundry located upstairs for convenience. Great neighborhood, low HOA, limited structural warranty coverage until 2025. Conveniently located near shopping/dinning/medical and downtown. Why are you still reading this? Schedule your showing time BEFORE THIS PROPERTY IS SOLD!

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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

Zip Code: 28677

ZipNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200kPrice in $59k213k

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

Zip Code: 28677

ZipNIR Market*CityMarket2010Year20002019 Q270075080085090095010001050110011501200125013001350Rent in $6771375

* 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
East Iredell Elementary School Primary Regular 851 52 2
Statesville Middle School Middle Regular 454 34 1
Statesville High School High Regular 1,029 67 1

East Iredell Elementary School

  • Education Level: Primary
  • # of students: 851
  • # of teachers: 52
2
GreatSchools Rating

Statesville Middle School

  • Education Level: Middle
  • # of students: 454
  • # of teachers: 34
1
GreatSchools Rating

Statesville High School

  • Education Level: High
  • # of students: 1,029
  • # of teachers: 67
1
GreatSchools Rating
 

$184,500$225,500$205,000

PURCHASE PRICE

$1,035$1,265$1,150

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,150
EXPENSES Loan Payment -$756
Property Tax -$181
Property Insurance -$54
HOA -$8
Property Management Fees -$104
CASH FLOW
$47

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$205,000

PROJECTED PRICE

$1,150

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 4.2%
Maintenance Year (1-5) 8.00%
Vacancy 6.02%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$60,075

INVESTMENT

$60,075

Down Payment
$51,250
Rehab Estimate
$5,750
Closing Costs
$3,075

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$756

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $51,250
Loan Amount $153,750
See What Happens When You Reinvest Cash Flow

5.33

YEARS SAVED

$13,944

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,150

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $1,266

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,150
1$1,1502$1,2953$1,3504$1,3995$1,415
$1,415
RENT COMPS ANALYSIS
  • 1100 Hunter Street Statesville, NC 1
    • 3 beds 3 baths ∙ 1,418 Sqft ∙ Built 2014 3 beds 3 baths ∙ 1,418 Sqft ∙ Built 2014
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $0.81
    •  
  • 2014 Arlington Avenue Statesville, NC 2
    • 3 beds 2 baths ∙ 1,520 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,520 Sqft ∙ Built 2005
    property image
    LEASED 05/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.85
    •  
  • 1637 Brookgreen Avenue Statesville, NC 3
    • 3 beds 3 baths ∙ 1,488 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,488 Sqft ∙ Built 2004
    property image
    LEASED 02/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.91
    •  
  • 1167 Valley Street Statesville, NC 4
    • 3 beds 3 baths ∙ 1,690 Sqft ∙ Built 2011 3 beds 3 baths ∙ 1,690 Sqft ∙ Built 2011
    property image
    LEASED 10/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,399
    • $0.83
    •  
  • 1308 Forest Park Drive Statesville, NC 5
    • 3 beds 2 baths ∙ 1,485 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,485 Sqft ∙ Built 1977
    property image
    LEASED 06/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,415
    • $0.95
    •  
PROPERTY LISTING DETAILS
Fabiola Arana
1.704.883.8490
Keller Williams Mooresville
BESbswy