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112 Cricket Hollow Drive Mount Holly, NC 28120

5 Beds 4 Baths 3,100 sqft Built 2004

$499,000

List Price

$2,720

$2.5K - $3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $160.97
  • MLS # : CAR3761474
  • Updated Date : 07/13/2021 at 01:34
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,100 sqft
  • Baths : 4 full
Listing Agent

Charlotte Living Realty

Listing Agent's Description

This stunning custom home is located on a quiet cul-de-sac in the beautiful Mountain Island Lake community of Stone Water. Featuring 4 bedrooms and 3 bathrooms on the main level and an additional bedroom and bath upstairs, this home is the perfect layout for any stage of life! Additional features include a large owners suite with his and her vanities and walk in closets, custom living room build-ins, Thermador gas cooktop, kitchen undermount lighting, oversize garage, gutter guards, and a separate fenced in dog run!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 28120

ZipNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200k210kPrice in $90k213k

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

Zip Code: 28120

ZipNIR Market*CityMarket2010Year20002019 Q285090095010001050110011501200125013001350Rent in $8231397

* 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
East Gaston High School High Regular 1,122 67 5

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

East Gaston High School

  • Education Level: High
  • # of students: 1,122
  • # of teachers: 67
5
GreatSchools Rating
 

$449,100$548,900$499,000

PURCHASE PRICE

$2,448$2,992$2,720

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,720
EXPENSES Loan Payment -$1,733
Property Tax -$360
Property Insurance -$86
HOA -$95
Property Management Fees -$119
CASH FLOW
$328

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.

$499,000

PROJECTED PRICE

$2,720

PROJECTED RENT

0.55%

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$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k$30k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$137,985

INVESTMENT

$137,985

Down Payment
$124,750
Rehab Estimate
$5,750
Closing Costs
$7,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,733

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $124,750
Loan Amount $374,250
See What Happens When You Reinvest Cash Flow

8.42

YEARS SAVED

$56,286

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $2,315

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,0003$2,2004$2,750
$2,750
RENT COMPS ANALYSIS
  • 112 Cricket Hollow Drive Mount Holly, NC 1
    • 5 beds 4 baths ∙ 3,100 Sqft ∙ Built 2004 5 beds 4 baths ∙ 3,100 Sqft ∙ Built 2004
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 2008 Mt Isle Harbor Drive Charlotte, NC 2
    • 4 beds 3 baths ∙ 2,774 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,774 Sqft ∙ Built 2000
    property image
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.72
    •  
  • 2627 Shady Reach Lane Charlotte, NC 3
    • 4 beds 3 baths ∙ 3,079 Sqft ∙ Built 1999 4 beds 3 baths ∙ 3,079 Sqft ∙ Built 1999
    property image
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.71
    •  
  • 11216 Stony Path Drive Charlotte, NC 4
    • 4 beds 3 baths ∙ 3,102 Sqft ∙ Built 2002 4 beds 3 baths ∙ 3,102 Sqft ∙ Built 2002
    property image
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.89
    •  
PROPERTY LISTING DETAILS
Jenn Davis
1.704.577.6052
Charlotte Living Realty
BESbswy