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114 Valhalla Drive Harrisburg, NC 28075

3 Beds 2 Baths 1,568 sqft Built 1968

$297,900

List Price

$1,290

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1968
  • Price/Sqft : $189.99
  • 30 Days on Market
  • MLS # : 3696998
  • Updated Date : 02/06/2021 at 18:24
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,568 sqft
  • Baths : 2 full
Listing Agent

Southern Homes Of The Carolinas

Listing Agent's Description

THEY DON'T BUILD THEM LIKE THIS ANYMORE!! FULL BRICK 3 Bedroom/2 full Bath RANCH on a LARGE CORNER LOT in a QUIET ESTABLISHED NEIGHBORHOOD in HARRISBURG! This home has been loved and well maintained through the years and is ready for a new owner to do the same. The possibilities are endless! Features include open kitchen and den, gas logs in fireplace, large closets, nice sized secondary bedrooms, vinyl windows. large newer back deck and huge fenced back yard. This neighborhood is situated between Hwy 49 and Hwy 29 and so close to Charlotte but with Cabarrus County taxes. The location is perfect - close to shoppiing, restaurants, grocery stores, Harrisburg Park and Library. as well as interstates. Come make this house your home!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Valhalla

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $113k311k

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

Neighborhood: Valhalla

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8421834

* 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
Pitts School Road Elementary School Primary Regular 809 49 5
Hickory Ridge Middle School Middle Unknown NA
Hickory Ridge High School High Regular 1,573 77 7

Pitts School Road Elementary School

  • Education Level: Primary
  • # of students: 809
  • # of teachers: 49
5
GreatSchools Rating

Hickory Ridge Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Hickory Ridge High School

  • Education Level: High
  • # of students: 1,573
  • # of teachers: 77
7
GreatSchools Rating
 

$268,110$327,690$297,900

PURCHASE PRICE

$1,161$1,419$1,290

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,290
EXPENSES Loan Payment -$1,035
Property Tax -$201
Property Insurance -$57
Property Management Fees -$119
CASH FLOW
-$122

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.

$297,900

PROJECTED PRICE

$1,290

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 4.8%
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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$84,694

INVESTMENT

$84,694

Down Payment
$74,475
Rehab Estimate
$5,750
Closing Costs
$4,469

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,035

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $74,475
Loan Amount $223,425
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$8,162

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,290

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $1,419

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,290
1$1,2902$1,4003$1,4994$1,6005$1,800
$1,800
RENT COMPS ANALYSIS
  • 114 Valhalla Drive Harrisburg, NC 1
    • 3 beds 2 baths ∙ 1,568 Sqft ∙ Built 1968 3 beds 2 baths ∙ 1,568 Sqft ∙ Built 1968
    • Rent
    • Rent Per SQFT
    •  
    • $1,290
    • $0.82
    •  
  • 5374 Nc Hwy 49 South Harrisburg, NC 2
    • 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1959
    LEASED 01/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.93
    •  
  • 5911 Leatherwood Lane Harrisburg, NC 3
    • 4 beds 3 baths ∙ 1,750 Sqft ∙ Built 1982 4 beds 3 baths ∙ 1,750 Sqft ∙ Built 1982
    LEASED 11/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,499
    • $0.86
    •  
  • 14312 Riding Hill Avenue Charlotte, NC 4
    • 3 beds 2 baths ∙ 1,811 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,811 Sqft ∙ Built 2001
    LEASED 02/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.88
    •  
  • 6287 Spring Court Lane Harrisburg, NC 5
    • 3 beds 3 baths ∙ 1,815 Sqft ∙ Built 1991 3 beds 3 baths ∙ 1,815 Sqft ∙ Built 1991
    LEASED 05/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.99
    •  
PROPERTY LISTING DETAILS
Dawn Julian
1.980.621.9980
Southern Homes Of The Carolinas
BESbswy