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122 Glenn Oaks Lane Mount Holly, NC 28120

3 Beds 2 Baths 2,154 sqft Built 2006

$245,000

List Price

$1,740

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $113.74
  • 2 Days on Market
  • MLS # : 3689487
  • Updated Date : 12/12/2020 at 15:50
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,154 sqft
  • Baths : 2 full
Listing Agent

Exp Realty

Listing Agent's Description

House is being SOLD as-is. Seller to do no repairs.

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

Zip Code: 28120

ZipNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210kPrice in $110k213k

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

Zip Code: 28120

ZipNIR Market*CityMarket2010Year20002019 Q2850900950100010501100115012001250130013501400Rent in $8231440

* 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
North Belmont Elementary School Primary Regular 414 25 5
Stanley Middle School Middle Regular 485 30 7
Stuart W. Cramer High School High Regular 782 45 NA

North Belmont Elementary School

  • Education Level: Primary
  • # of students: 414
  • # of teachers: 25
5
GreatSchools Rating

Stanley Middle School

  • Education Level: Middle
  • # of students: 485
  • # of teachers: 30
7
GreatSchools Rating

Stuart W. Cramer High School

  • Education Level: High
  • # of students: 782
  • # of teachers: 45
NA
GreatSchools Rating
 

$220,500$269,500$245,000

PURCHASE PRICE

$1,566$1,914$1,740

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,740
EXPENSES Loan Payment -$904
Property Tax -$177
Property Insurance -$68
Property Management Fees -$119
CASH FLOW
$473

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.

$245,000

PROJECTED PRICE

$1,740

PROJECTED RENT

0.71%

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

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$70,675

INVESTMENT

$70,675

Down Payment
$61,250
Rehab Estimate
$5,750
Closing Costs
$3,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$904

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $61,250
Loan Amount $183,750
See What Happens When You Reinvest Cash Flow

14.17

YEARS SAVED

$65,782

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,740

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $1,583

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$1,545
1$1,5452$1,5953$1,6004$1,6005$1,740
$1,740
RENT COMPS ANALYSIS
  • 122 Glenn Oaks Lane Mount Holly, NC 5
    • 3 beds 2 baths ∙ 2,154 Sqft ∙ Built 2006 3 beds 2 baths ∙ 2,154 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,740
    • $0.81
    •  
  • 300 Deerfield Drive Mount Holly, NC 1
    • 3 beds 2 baths ∙ 1,925 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,925 Sqft ∙ Built 2002
    LEASED 07/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,545
    • $0.80
    •  
  • 136 Morning Dew Lane Mount Holly, NC 2
    • 4 beds 3 baths ∙ 2,269 Sqft ∙ Built 2011 4 beds 3 baths ∙ 2,269 Sqft ∙ Built 2011
    LEASED 01/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.70
    •  
  • 200 Planters Way Mount Holly, NC 3
    • 3 beds 2 baths ∙ 2,074 Sqft ∙ Built 2012 3 beds 2 baths ∙ 2,074 Sqft ∙ Built 2012
    LEASED 05/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.77
    •  
  • 104 High Ridge Court W Mount Holly, NC 4
    • 4 beds 4 baths ∙ 2,390 Sqft ∙ Built 2002 4 beds 4 baths ∙ 2,390 Sqft ∙ Built 2002
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.67
    •  
PROPERTY LISTING DETAILS
Steven Norris
1.919.749.1613
Exp Realty
BESbswy