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112 Village Glen Way Mount Holly, NC 28120

5 Beds 3 Baths 3,055 sqft Built 2001

$440,000

List Price

$2,570

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $144.03
  • 7 Days on Market
  • MLS # : 3678503
  • Updated Date : 11/13/2020 at 00:06
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,055 sqft
  • Baths : 3 full
Listing Agent

Magnolia Real Estate

Listing Agent's Description

This home is located within the Waterfront community of Stonewater which is 12 miles north/west of Uptown Charlotte. The house is right up the road from clubhouse which includes a community pool, tennis/pickleball courts, and Mountain Island Lake kayak drop. The home includes a home office, open floor plan with large dining area, beautiful kitchen with granite countertops, computer niche, island and pantry, and dark hardwood floors throughout the downstairs and upstairs (excluding bedrooms) The yard features a 289sf wired workshop/shed and large/private back yard. The oversized master suite also includes a large storage area through the master closet. The upstairs bonus room add lots of livings space and includes a closet for extra storage. A guest bedroom and full bathroom can be found downstairs.

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

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
 

$396,000$484,000$440,000

PURCHASE PRICE

$2,313$2,827$2,570

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,570
EXPENSES Loan Payment -$1,623
Property Tax -$522
Property Insurance -$85
HOA -$89
Property Management Fees -$231
CASH FLOW
$20

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.

$440,000

PROJECTED PRICE

$2,570

PROJECTED RENT

0.58%

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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$122,350

INVESTMENT

$122,350

Down Payment
$110,000
Rehab Estimate
$5,750
Closing Costs
$6,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,623

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $110,000
Loan Amount $330,000
See What Happens When You Reinvest Cash Flow

4.08

YEARS SAVED

$20,384

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,570

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $2,322

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,5703$2,750
$2,750
RENT COMPS ANALYSIS
  • 112 Village Glen Way Mount Holly, NC 2
    • 5 beds 3 baths ∙ 3,055 Sqft ∙ Built 2001 5 beds 3 baths ∙ 3,055 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $2,570
    • $0.84
    •  
  • 2627 Shady Reach Lane Charlotte, NC 1
    • 4 beds 3 baths ∙ 3,079 Sqft ∙ Built 1999 4 beds 3 baths ∙ 3,079 Sqft ∙ Built 1999
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.71
    •  
  • 11216 Stony Path Drive Charlotte, NC 3
    • 4 beds 3 baths ∙ 3,102 Sqft ∙ Built 2002 4 beds 3 baths ∙ 3,102 Sqft ∙ Built 2002
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.89
    •  
PROPERTY LISTING DETAILS
Jordan Keables
1.530.228.8169
Magnolia Real Estate
BESbswy