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11604 Solstice Way Huntersville, NC 28078

4 Beds 3 Baths 2,208 sqft Built 2020

$375,900

List Price

$2,070

$1.9K - $2.3K

Rent Est.

$101,614

Investment Est.

AVAILABLE

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AVAILABLE

1 Year
(+5.4%)
1 YR. PROJ. APPRECIATION


Cap Rate	3.9%
Cash Flow	$468
Value Increase	$20,482

10 YEAR

Cash On Cash	-0.8%
Total Return	11.1%

PROPERTY INFO

Built 2020 NEW CONSTRUCTION

November 25, 2020 RECENTLY ADDED

FACTS

Single Family
Built In 2020
Price/Sqft : $170.24
6 Days on Market
MLS # : 3686358
Updated Date : 11/24/2020 at 12:59

CONSTRUCTION

Beds : 4
Floor Size : 2,208 sqft
Baths : 3 full

Listing Agent

Meritage Homes Of The Carolina

Listing Agent's Description

Brand NEW energy-efficient home ready February 2021! Enjoy movie night in the second-story Carolina plan bonus room. Downstairs, the sprawling kitchen island overlooks the great room and dining area. 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.

MARKET HIGHLIGHTS

Charlotte Market Report

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)

Neighborhood: Huntersville

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

Neighborhood: Huntersville

* 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

GreatSchools Rating

J.m. Alexander Middle School

Education Level: Middle
# of students: 865
# of teachers: 40

GreatSchools Rating

North Mecklenburg High School

Education Level: High
# of students: 1,881
# of teachers: 101

GreatSchools Rating

FINANCIALS

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$338,310$413,49000$375,900

PURCHASE PRICE

$1,863$2,27700$2,070

RENT

DOWN PAYMENT

FINANCING

OFF ON

Acquisition Concierge

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PROPERTY

Expense Inflation	%
Vacancy	%
Length of Stay
Expense Inflation	%
Vacancy	%
Length of Stay

YEAR (1-5)

Appreciation	%
Rental Growth	%
Maintenance	%

YEAR (1-5)

Appreciation	%
Rental Growth	%
Maintenance	%

YEAR (6+)

Appreciation	%
Rental Growth	%
Maintenance	%

INVESTMENT

Rehab Costs
Reinvest Cash Flow	Yes No
Interest Rate	%

INVESTMENT

Rehab Costs
Reinvest Cash Flow	Yes No
Interest Rate	%

Learn how to read this

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME	Rent	$2,070
EXPENSES	Loan Payment	-$1,387
	Property Tax	-$301
	Property Insurance	-$69
	HOA	-$89
	Property Management Fees	-$186



CASH FLOW $39

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.

$375,900

PROJECTED PRICE

$2,070

PROJECTED RENT

0.55%

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

PROJECTED ANNUAL CASH FLOW

Tenant Turnover

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

Appreciation
Principal
Loan Balance

TOTAL CASH OUT OF POCKET

INVESTMENT

$101,614

Down Payment	$93,975
Rehab Estimate	$2,000
Closing Costs	$5,639

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,387

MONTHLY LOAN PAYMENT

30 yr

4.25%

25.00%

Down Payment

Term	30 Years
Interest	4.25%
Down Payment	$93,975
Loan Amount	$281,925

See What Happens When You Reinvest Cash Flow

5.33

YEARS SAVED

$25,126

INTEREST SAVED

CASH FLOW REINVESTMENT

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

$2,070
LIST RENT
$0.94
LIST RENT PER SQFT

$2,053
COMP ESTIMATED VALUE
$0.93
COMP AVG. RENT PER SQFT

Comps Range

$1,750

1$1,7502$1,7953$2,0704$2,2505$2,295

$2,295

RENT COMPS ANALYSIS

2,208
PROPERTY SQFT
$0.93
AVG RENT PER SQFT
$2,053
ESTIMATED VALUE
$2,070
LIST RENT

11604 Solstice Way Huntersville, NC 5

4 beds 3 baths ∙ 2,208 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,208 Sqft ∙ Built 2020
Price

Price Per SQFT

$375,900

$170.24
11524 Lottingly Drive Huntersville, NC 1

4 beds 4 baths ∙ 2,130 Sqft ∙ Built 2011 4 beds 4 baths ∙ 2,130 Sqft ∙ Built 2011
SOLD 11/13/20
Price

Price Per SQFT

$320,000

$150.23
12808 Heath Grove Drive Huntersville, NC 2

4 beds 4 baths ∙ 2,130 Sqft ∙ Built 2019 4 beds 4 baths ∙ 2,130 Sqft ∙ Built 2019
SOLD 07/10/20
Price

Price Per SQFT

$325,000

$152.58
12404 Stoneybrook Station Parkway Huntersville, NC 3

4 beds 3 baths ∙ 2,187 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,187 Sqft ∙ Built 2020
SOLD 08/28/20
Price

Price Per SQFT

$347,900

$159.08
11613 Corleone Street Huntersville, NC 4

4 beds 4 baths ∙ 2,193 Sqft ∙ Built 2020 4 beds 4 baths ∙ 2,193 Sqft ∙ Built 2020
SOLD 07/29/20
Price

Price Per SQFT

$350,000

$159.60

11604 Solstice Way Huntersville, NC 3

4 beds 3 baths ∙ 2,208 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,208 Sqft ∙ Built 2020
Rent

Rent Per SQFT

$2,070

$0.94
11745 Mesquite Road Huntersville, NC 1

3 beds 3 baths ∙ 1,936 Sqft ∙ Built 2020 3 beds 3 baths ∙ 1,936 Sqft ∙ Built 2020
LEASED 10/04/20
Rent

Rent Per SQFT

$1,750

$0.90
11729 Mesquite Road Huntersville, NC 2

3 beds 3 baths ∙ 1,861 Sqft ∙ Built 2020 3 beds 3 baths ∙ 1,861 Sqft ∙ Built 2020
LEASED 11/20/20
Rent

Rent Per SQFT

$1,795

$0.96
11918 Midnight Way Huntersville, NC 4

5 beds 3 baths ∙ 2,433 Sqft ∙ Built 2020 5 beds 3 baths ∙ 2,433 Sqft ∙ Built 2020
LEASED 05/02/20
Rent

Rent Per SQFT

$2,250

$0.92
11757 Mesquite Road Huntersville, NC 5

5 beds 3 baths ∙ 2,433 Sqft ∙ Built 2020 5 beds 3 baths ∙ 2,433 Sqft ∙ Built 2020
LEASED 09/28/20
Rent

Rent Per SQFT

$2,295

$0.94

PROPERTY LISTING DETAILS

Jimmy Mcclurg
1.704.969.0153
Meritage Homes Of The Carolina

11604 Solstice Way Huntersville, NC 28078

$375,900

$2,070

$101,614

REQUEST INFO

PROPERTY INFO

FACTS

CONSTRUCTION

Listing Agent

Listing Agent's Description

MARKET HIGHLIGHTS

PRICE & RENT TRENDS

SCHOOLS

Blythe Elementary School

J.m. Alexander Middle School

North Mecklenburg High School

FINANCIALS

$338,310$413,49000$375,900

$1,863$2,27700$2,070

Acquisition Concierge

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

$375,900

$2,070

0.55%

PROJECTED ACCUMULATED WEALTH

PROJECTED ANNUAL CASH FLOW

PROJECTED PROPERTY VALUE

TOTAL CASH OUT OF POCKET

INVESTMENT

LOAN DETAILS

25%

$1,387

5.33

$25,126

$375,900

$170.24

$343,062

$155.37

COMPS RANGE

PRICE COMPS ANALYSIS

$2,070

$0.94

$2,053

$0.93

Comps Range

RENT COMPS ANALYSIS

PROPERTY LISTING DETAILS