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12240 Diablo Drive Huntersville, NC 28078

4 Beds 3 Baths 2,143 sqft Built 2021

$368,120

List Price

$2,120

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
SINGLE-FAMILY
March 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $171.78
  • 5 Days on Market
  • MLS # : 3721585
  • Updated Date : 03/27/2021 at 00:05
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,143 sqft
  • Baths : 2 full , 1 half
Listing Agent

Meritage Homes Of The Carolina

Listing Agent's Description

Brand NEW energy-efficient home ready May 2021! Relax in the Calhoun II spacious primary suite with private bath. Downstairs, the sprawling kitchen island overlooks the open-concept family 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

  • 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

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
 

$331,308$404,932$368,120

PURCHASE PRICE

$1,908$2,332$2,120

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,120
EXPENSES Loan Payment -$1,279
Property Tax -$295
Property Insurance -$68
HOA -$89
Property Management Fees -$119
CASH FLOW
$272

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.

$368,120

PROJECTED PRICE

$2,120

PROJECTED RENT

0.58%

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

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$99,552

INVESTMENT

$99,552

Down Payment
$92,030
Rehab Estimate
$2,000
Closing Costs
$5,522

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$1,279

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $92,030
Loan Amount $276,090
See What Happens When You Reinvest Cash Flow

9.67

YEARS SAVED

$54,288

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,120

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $2,106

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$2,1003$2,1204$2,2955$2,300
$2,300
RENT COMPS ANALYSIS
  • 12240 Diablo Drive Huntersville, NC 3
    • 4 beds 3 baths ∙ 2,143 Sqft ∙ Built 2021 4 beds 3 baths ∙ 2,143 Sqft ∙ Built 2021
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,120
    • $0.99
    •  
  • 11745 Mesquite Road Huntersville, NC 1
    • 3 beds 3 baths ∙ 1,936 Sqft ∙ Built 2020 3 beds 3 baths ∙ 1,936 Sqft ∙ Built 2020
    property image
    LEASED 01/25/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.93
    •  
  • 11716 Mesquite Road Huntersville, NC 2
    • 3 beds 3 baths ∙ 2,105 Sqft ∙ Built 2020 3 beds 3 baths ∙ 2,105 Sqft ∙ Built 2020
    property image
    LEASED 01/11/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.00
    •  
  • 11910 Silverheel Lane Huntersville, NC 4
    • 4 beds 3 baths ∙ 2,345 Sqft ∙ Built 2021 4 beds 3 baths ∙ 2,345 Sqft ∙ Built 2021
    property image
    LEASED 02/27/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.98
    •  
  • 11925 Silverheel Lane Huntersville, NC 5
    • 5 beds 3 baths ∙ 2,433 Sqft ∙ Built 2020 5 beds 3 baths ∙ 2,433 Sqft ∙ Built 2020
    property image
    LEASED 12/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.95
    •  
PROPERTY LISTING DETAILS
Jimmy Mcclurg
1.704.969.0153
Meritage Homes Of The Carolina
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3721585
Last Updated: 03/27/2021
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