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11608 Solstice Way Huntersville, NC 28078

4 Beds 4 Baths 2,694 sqft Built 2020

$397,900

List Price

$2,470

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
November 24, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $147.70
  • 6 Days on Market
  • MLS # : 3686342
  • Updated Date : 11/24/2020 at 13:02
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,694 sqft
  • Baths : 3 full , 1 half
Listing Agent

Meritage Homes Of The Carolina

Listing Agent's Description

Brand NEW energy-efficient home ready February 2021! Send the kids up to play in the Grayson II plan bonus room while entertaining in the open living area. Flex space makes an ideal office or hobby room. Linen cabinets, white/grey granite countertops, brown grey EVP flooring and multi-tone carpet in our Elemental 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.

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

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
 

$358,110$437,690$397,900

PURCHASE PRICE

$2,223$2,717$2,470

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,470
EXPENSES Loan Payment -$1,468
Property Tax -$319
Property Insurance -$78
HOA -$89
Property Management Fees -$222
CASH FLOW
$295

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.

$397,900

PROJECTED PRICE

$2,470

PROJECTED RENT

0.62%

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$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

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

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$107,444

INVESTMENT

$107,444

Down Payment
$99,475
Rehab Estimate
$2,000
Closing Costs
$5,969

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,468

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $99,475
Loan Amount $298,425
See What Happens When You Reinvest Cash Flow

9.17

YEARS SAVED

$61,285

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,470

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $2,492

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,2503$2,2954$2,4705$2,600
$2,600
RENT COMPS ANALYSIS
  • 11608 Solstice Way Huntersville, NC 4
    • 4 beds 4 baths ∙ 2,694 Sqft ∙ Built 2020 4 beds 4 baths ∙ 2,694 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $2,470
    • $0.92
    •  
  • 11931 Hambright Road Huntersville, NC 1
    • 5 beds 3 baths ∙ 2,433 Sqft ∙ Built 2020 5 beds 3 baths ∙ 2,433 Sqft ∙ Built 2020
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.90
    •  
  • 11918 Midnight Way Huntersville, NC 2
    • 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 3
    • 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
    •  
  • 12516 Stoneybrook Station Parkway Huntersville, NC 5
    • 4 beds 3 baths ∙ 2,763 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,763 Sqft ∙ Built 2020
    LEASED 11/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.94
    •  
PROPERTY LISTING DETAILS
Jimmy Mcclurg
1.704.969.0153
Meritage Homes Of The Carolina
BESbswy