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112 Cletus Brawley Road Huntersville, NC 28078

3 Beds 1 Baths 1,016 sqft Built 1964

$219,900

List Price

$1,060

$954 - $1.2K

Rent Est.

PROPERTY INFO

February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1964
  • Price/Sqft : $216.44
  • 2 Days on Market
  • MLS # : 3707745
  • Updated Date : 02/13/2021 at 09:33
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,016 sqft
  • Baths : 1 full
Listing Agent

The Home Team Realty Group Inc

Listing Agent's Description

Nicely maintained 3 bedroom home in small, established neighborhood located conveniently to shopping, restaurants, schools, and I-77. Huge 0.66 acre yard with two storage buildings (one has electricity). All appliances included. Perfect starter home or investment opportunity!

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: Huntersville

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $118k318k

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

Neighborhood: Huntersville

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8441809

* 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
Huntersville Elementary School Primary Regular 729 42 8
Bailey Middle School Middle Regular 1,616 77 9
William Amos Hough High School High Regular 2,453 120 8

Huntersville Elementary School

  • Education Level: Primary
  • # of students: 729
  • # of teachers: 42
8
GreatSchools Rating

Bailey Middle School

  • Education Level: Middle
  • # of students: 1,616
  • # of teachers: 77
9
GreatSchools Rating

William Amos Hough High School

  • Education Level: High
  • # of students: 2,453
  • # of teachers: 120
8
GreatSchools Rating
 

$197,910$241,890$219,900

PURCHASE PRICE

$954$1,166$1,060

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,060
EXPENSES Loan Payment -$764
Property Tax -$177
Property Insurance -$46
Property Management Fees -$119
CASH FLOW
-$46

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.

$219,900

PROJECTED PRICE

$1,060

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 5.4%
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$100k$200k$300k$400k$500k$600k$700k

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$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$64,024

INVESTMENT

$64,024

Down Payment
$54,975
Rehab Estimate
$5,750
Closing Costs
$3,299

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$764

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $54,975
Loan Amount $164,925
See What Happens When You Reinvest Cash Flow

4.67

YEARS SAVED

$10,361

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,060

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $1,054

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$1,060
1$1,0602$1,3003$1,3754$1,4005$1,450
$1,450
RENT COMPS ANALYSIS
  • 112 Cletus Brawley Road Huntersville, NC 1
    • 3 beds 1 baths ∙ 1,016 Sqft ∙ Built 1964 3 beds 1 baths ∙ 1,016 Sqft ∙ Built 1964
    • Rent
    • Rent Per SQFT
    •  
    • $1,060
    • $1.04
    •  
  • 14307 Menifee Drive Huntersville, NC 2
    • 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 2000
    LEASED 08/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $1.00
    •  
  • 12615 Cumberland Crest Drive Huntersville, NC 3
    • 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 1996
    LEASED 04/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $1.02
    •  
  • 14610 Laura Michelle Road Huntersville, NC 4
    • 3 beds 3 baths ∙ 1,320 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,320 Sqft ∙ Built 1999
    LEASED 06/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.06
    •  
  • 16518 Amber Field Drive Huntersville, NC 5
    • 3 beds 2 baths ∙ 1,351 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,351 Sqft ∙ Built 1995
    LEASED 02/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.07
    •  
PROPERTY LISTING DETAILS
Reiggin Hilderbrand
1.704.881.4000
The Home Team Realty Group Inc
BESbswy