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1208 Mt Holly Huntersville Road Charlotte, NC 28214

3 Beds 2 Baths 1,235 sqft Built 1998

$225,000

List Price

$1,320

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

December 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $182.19
  • 3 Days on Market
  • MLS # : 3692280
  • Updated Date : 12/19/2020 at 08:54
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,235 sqft
  • Baths : 2 full
Listing Agent

Fathom Realty

Listing Agent's Description

Check out this beautiful well maintained ranch style home. Located minutes from the Whitewater Center, Charlotte Douglas Airport, shopping, and dining. It has a spacious master bedroom, 2 additional bedrooms, 2 bathrooms and 2 car garage. This beauty is turn - key ready! New wood-like laminate flooring in living areas. More photos to come.

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: Coulwood West

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230kPrice in $104k235k

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

Neighborhood: Coulwood West

NeighborhoodNIR Market*CityMarket2010Year20002019 Q280085090095010001050110011501200125013001350140014501500Rent in $7871518

* 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
River Oaks Academy Primary Regular 611 36 5
Coulwood Middle School Middle Regular 694 45 7
West Mecklenburg High School High Regular 2,040 108 1

River Oaks Academy

  • Education Level: Primary
  • # of students: 611
  • # of teachers: 36
5
GreatSchools Rating

Coulwood Middle School

  • Education Level: Middle
  • # of students: 694
  • # of teachers: 45
7
GreatSchools Rating

West Mecklenburg High School

  • Education Level: High
  • # of students: 2,040
  • # of teachers: 108
1
GreatSchools Rating
 

$202,500$247,500$225,000

PURCHASE PRICE

$1,188$1,452$1,320

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,320
EXPENSES Loan Payment -$830
Property Tax -$196
Property Insurance -$50
Property Management Fees -$119
CASH FLOW
$124

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.

$225,000

PROJECTED PRICE

$1,320

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 8.1%
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$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$65,375

INVESTMENT

$65,375

Down Payment
$56,250
Rehab Estimate
$5,750
Closing Costs
$3,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$830

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $56,250
Loan Amount $168,750
See What Happens When You Reinvest Cash Flow

8

YEARS SAVED

$27,126

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,320

    LIST RENT
  • $1.07

    LIST RENT PER SQFT
  • $1,145

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,195
1$1,1952$1,3203$1,3254$1,3495$1,450
$1,450
RENT COMPS ANALYSIS
  • 1208 Mt Holly Huntersville Road Charlotte, NC 2
    • 3 beds 2 baths ∙ 1,235 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,235 Sqft ∙ Built 1998
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,320
    • $1.07
    •  
  • 800 Mt Holly Huntersville Road Charlotte, NC 1
    • 3 beds 2 baths ∙ 1,259 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,259 Sqft ∙ Built 1955
    property image
    LEASED 07/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $0.95
    •  
  • 11407 Northwoods Forest Drive Charlotte, NC 3
    • 3 beds 3 baths ∙ 1,440 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,440 Sqft ∙ Built 2000
    property image
    LEASED 01/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,325
    • $0.92
    •  
  • 9853 Aviary Hill Way Charlotte, NC 4
    • 3 beds 3 baths ∙ 1,495 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,495 Sqft ∙ Built 2001
    property image
    LEASED 12/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,349
    • $0.90
    •  
  • 11348 Red Finch Lane Charlotte, NC 5
    • 3 beds 3 baths ∙ 1,580 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,580 Sqft ∙ Built 2000
    property image
    LEASED 06/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.92
    •  
PROPERTY LISTING DETAILS
Daphne Hall
1.704.458.5970
Fathom Realty
BESbswy