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121 Sculpin Lane Mount Holly, NC 28120

4 Beds 3 Baths 2,640 sqft Built 2018

$325,000

List Price

$1,710

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $123.11
  • 7 Days on Market
  • MLS # : 3703830
  • Updated Date : 02/06/2021 at 00:05
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,640 sqft
  • Baths : 2 full , 1 half
Listing Agent

Helen Adams Realty

Listing Agent's Description

Why wait to build when you can have this amazing home now! This home features a welcoming front porch, dining room, powder room with new vanity, fabulous great room w/gas log fireplace and wonderful natural light. The gourmet kitchen opens to the family room, has a planning desk, island w/seating, pantry, gas range, wall oven w/microwave . 2 car painted garage w/added shelving and drop zone area at interior access. Upstairs is the owner's suite of your dreams! Bath w/walk-in shower, dual sinks, and fabulous walk in closet. 3 additional bedrooms share a hall full bath. laundry room is on second level for convenience. HUGE fenced backyard - sellers had backyard sodded so no waiting for new grass to grow!. Outdoor patio and screen door added at interior access.

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

Zip Code: 28120

ZipNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200k210kPrice in $90k213k

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

Zip Code: 28120

ZipNIR Market*CityMarket2010Year20002019 Q285090095010001050110011501200125013001350Rent in $8231397

* 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
Pinewood Elementary School Primary Regular 581 34 6
Mount Holly Middle School Middle Regular 771 41 7
Stuart W. Cramer High School High Unknown NA

Pinewood Elementary School

  • Education Level: Primary
  • # of students: 581
  • # of teachers: 34
6
GreatSchools Rating

Mount Holly Middle School

  • Education Level: Middle
  • # of students: 771
  • # of teachers: 41
7
GreatSchools Rating

Stuart W. Cramer High School

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

$292,500$357,500$325,000

PURCHASE PRICE

$1,539$1,881$1,710

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,710
EXPENSES Loan Payment -$1,129
Property Tax -$235
Property Insurance -$77
HOA -$50
Property Management Fees -$119
CASH FLOW
$101

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.

$325,000

PROJECTED PRICE

$1,710

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 5.1%
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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$91,875

INVESTMENT

$91,875

Down Payment
$81,250
Rehab Estimate
$5,750
Closing Costs
$4,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,129

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $81,250
Loan Amount $243,750
See What Happens When You Reinvest Cash Flow

6.58

YEARS SAVED

$25,425

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,710

    LIST RENT
  • $0.65

    LIST RENT PER SQFT
  • $1,544

    COMP ESTIMATED VALUE
  • $0.59

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,4953$1,5254$1,6005$1,710
$1,710
RENT COMPS ANALYSIS
  • 121 Sculpin Lane Mount Holly, NC 5
    • 4 beds 3 baths ∙ 2,640 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,640 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $1,710
    • $0.65
    •  
  • 10917 Ridge Acres Road Charlotte, NC 1
    • 4 beds 3 baths ∙ 2,355 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,355 Sqft ∙ Built 1989
    LEASED 10/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.59
    •  
  • 601 River Hills Court Charlotte, NC 2
    • 4 beds 3 baths ∙ 2,712 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,712 Sqft ∙ Built 2006
    LEASED 02/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.55
    •  
  • 10738 Pointer Ridge Drive Charlotte, NC 3
    • 4 beds 3 baths ∙ 2,636 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,636 Sqft ∙ Built 2005
    LEASED 12/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.58
    •  
  • 11640 Tribal Drive Charlotte, NC 4
    • 4 beds 3 baths ∙ 2,712 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,712 Sqft ∙ Built 2014
    LEASED 07/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.59
    •  
PROPERTY LISTING DETAILS
Theresa Kistler
1.704.451.0247
Helen Adams Realty
BESbswy