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11514 Solstice Way Huntersville, NC 28078

3 Beds 3 Baths 1,858 sqft Built 2021

$356,900

List Price

$1,680

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
December 09, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $192.09
  • 5 Days on Market
  • MLS # : 3689961
  • Updated Date : 12/09/2020 at 12:33
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,858 sqft
  • Baths : 2 full , 1 half
Listing Agent

Meritage Homes Of The Carolina

Listing Agent's Description

Brand NEW energy-efficient home ready March 2021! Let the kids play in the Alexander's loft while you entertain on the open-concept main level. First floor flex space makes a perfect home office. Slate cabinets, ice white quartz countertops, cool grey EVP flooring with grey-brown carpet in our Distinct package. Stoneybrook Station is in desirable Huntersville with convenient access to I-485 and I-77 as well as a variety of excellent shopping, dining and entertainment areas. Future amenities include resort-style pool and clubhouse. Known for their energy efficient features, our homes help you live a healthier and quieter lifestyle while saving thousands of dollars on utility bills.

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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
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
 

$321,210$392,590$356,900

PURCHASE PRICE

$1,512$1,848$1,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,680
EXPENSES Loan Payment -$1,317
Property Tax -$286
Property Insurance -$62
HOA -$89
Property Management Fees -$119
CASH FLOW
-$192

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$356,900

PROJECTED PRICE

$1,680

PROJECTED RENT

0.47%

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) 3.00%
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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$96,579

INVESTMENT

$96,579

Down Payment
$89,225
Rehab Estimate
$2,000
Closing Costs
$5,354

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,317

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $89,225
Loan Amount $267,675
See What Happens When You Reinvest Cash Flow

3.08

YEARS SAVED

$10,447

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,680

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,677

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,475
1$1,4752$1,5953$1,6804$1,7505$1,795
$1,795
RENT COMPS ANALYSIS
  • 11514 Solstice Way Huntersville, NC 3
    • 3 beds 3 baths ∙ 1,858 Sqft ∙ Built 2021 3 beds 3 baths ∙ 1,858 Sqft ∙ Built 2021
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $0.90
    •  
  • 13604 Toka Court Huntersville, NC 1
    • 3 beds 3 baths ∙ 1,645 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,645 Sqft ∙ Built 1999
    property image
    LEASED 09/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.90
    •  
  • 13524 Toka Court Huntersville, NC 2
    • 3 beds 3 baths ∙ 1,873 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,873 Sqft ∙ Built 2000
    property image
    LEASED 09/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.85
    •  
  • 11745 Mesquite Road Huntersville, NC 4
    • 3 beds 3 baths ∙ 1,936 Sqft ∙ Built 2020 3 beds 3 baths ∙ 1,936 Sqft ∙ Built 2020
    property image
    LEASED 10/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.90
    •  
  • 11729 Mesquite Road Huntersville, NC 5
    • 3 beds 3 baths ∙ 1,861 Sqft ∙ Built 2020 3 beds 3 baths ∙ 1,861 Sqft ∙ Built 2020
    property image
    LEASED 11/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.96
    •  
PROPERTY LISTING DETAILS
Jimmy Mcclurg
1.704.969.0153
Meritage Homes Of The Carolina
BESbswy