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11115 Hollis Hill Lane Huntersville, NC 28078

3 Beds 3 Baths 3,146 sqft Built 2012

$390,000

List Price

$2,200

$2K - $2.4K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2012
  • Price/Sqft : $123.97
  • 7 Days on Market
  • MLS # : 3680516
  • Updated Date : 11/21/2020 at 13:24
CONSTRUCTION
  • Beds : 3
  • Floor Size : 3,146 sqft
  • Baths : 2 full , 1 half
Listing Agent

Bryan Realtors

Listing Agent's Description

Lifestyle. Convenience. Comfort. Welcome home to Skybrook in Huntersville! Immaculately maintained 2 story home with everything you could want. First level master suite, formal and casual dining area. Warm Brazillian wood floors throughout the first floor. Optional laundry area up and down. Loft, bonus room and office space in this generous and inviting home. The details do not stop there with epoxy floors in the 2 car garage.

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

Neighborhood: Skybrook

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $118k410k

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

Neighborhood: Skybrook

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001200140016001800200022002400Rent in $8442520

* 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
Blythe Elementary School Primary Regular 1,038 67 5
J.m. Alexander Middle School Middle Regular 865 40 4
North Mecklenburg High School High Regular 1,881 101 3

Blythe Elementary School

  • Education Level: Primary
  • # of students: 1,038
  • # of teachers: 67
5
GreatSchools Rating

J.m. Alexander Middle School

  • Education Level: Middle
  • # of students: 865
  • # of teachers: 40
4
GreatSchools Rating

North Mecklenburg High School

  • Education Level: High
  • # of students: 1,881
  • # of teachers: 101
3
GreatSchools Rating
 

$351,000$429,000$390,000

PURCHASE PRICE

$1,980$2,420$2,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,200
EXPENSES Loan Payment -$1,439
Property Tax -$333
Property Insurance -$86
HOA -$48
Property Management Fees -$198
CASH FLOW
$96

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.

$390,000

PROJECTED PRICE

$2,200

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 3.5%
Maintenance Year (1-5) 8.00%
Vacancy 6.31%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$109,100

INVESTMENT

$109,100

Down Payment
$97,500
Rehab Estimate
$5,750
Closing Costs
$5,850

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,439

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $97,500
Loan Amount $292,500
See What Happens When You Reinvest Cash Flow

6

YEARS SAVED

$31,830

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,200

    LIST RENT
  • $0.7

    LIST RENT PER SQFT
  • $2,352

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$2,150
1$2,1502$2,2003$2,2004$2,2505$2,350
$2,350
RENT COMPS ANALYSIS
  • 11115 Hollis Hill Lane Huntersville, NC 3
    • 3 beds 3 baths ∙ 3,146 Sqft ∙ Built 2012 3 beds 3 baths ∙ 3,146 Sqft ∙ Built 2012
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.70
    •  
  • 3528 Dominion Green Drive Charlotte, NC 1
    • 4 beds 3 baths ∙ 2,851 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,851 Sqft ∙ Built 2006
    LEASED 05/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.75
    •  
  • 332 Sutro Forest Drive Concord, NC 2
    • 4 beds 3 baths ∙ 3,000 Sqft ∙ Built 2010 4 beds 3 baths ∙ 3,000 Sqft ∙ Built 2010
    LEASED 07/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.73
    •  
  • 714 Richland Drive Huntersville, NC 4
    • 4 beds 4 baths ∙ 3,214 Sqft ∙ Built 2005 4 beds 4 baths ∙ 3,214 Sqft ∙ Built 2005
    LEASED 03/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.70
    •  
  • 10107 Edgecliff Road Huntersville, NC 5
    • 4 beds 3 baths ∙ 2,885 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,885 Sqft ∙ Built 2001
    LEASED 07/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.81
    •  
PROPERTY LISTING DETAILS
Kenya Todd
1.704.281.2275
Bryan Realtors
BESbswy