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125 Gregory Court Mount Holly, NC 28120

3 Beds 2 Baths 1,485 sqft Built 1999

$259,750

List Price

$1,440

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $174.92
  • 3 Days on Market
  • MLS # : 3703382
  • Updated Date : 01/30/2021 at 22:34
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,485 sqft
  • Baths : 2 full
Listing Agent

Allen Tate Gastonia

Listing Agent's Description

Welcome home to this 3 bed, 2 bath home nestled on .49 acres in an established neighborhood. This home offers an open floor plan with plenty of room for entertaining, fenced backyard, covered front and rear porch with a deck off the rear. The kitchen offers plenty of cabinet and counter space with fresh paint throughout.

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
Rankin Elementary School Primary Regular 659 34 6
Mount Holly Middle School Middle Regular 771 41 7
East Gaston High School High Regular 1,122 67 5

Rankin Elementary School

  • Education Level: Primary
  • # of students: 659
  • # of teachers: 34
6
GreatSchools Rating

Mount Holly Middle School

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

East Gaston High School

  • Education Level: High
  • # of students: 1,122
  • # of teachers: 67
5
GreatSchools Rating
 

$233,775$285,725$259,750

PURCHASE PRICE

$1,296$1,584$1,440

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,440
EXPENSES Loan Payment -$902
Property Tax -$148
Property Insurance -$55
Property Management Fees -$119
CASH FLOW
$215

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.

$259,750

PROJECTED PRICE

$1,440

PROJECTED RENT

0.55%

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

PROJECTED ANNUAL CASH FLOW

11530$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$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,584

INVESTMENT

$74,584

Down Payment
$64,938
Rehab Estimate
$5,750
Closing Costs
$3,896

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$902

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $64,938
Loan Amount $194,813
See What Happens When You Reinvest Cash Flow

9.58

YEARS SAVED

$35,472

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,440

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,259

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,150
1$1,1502$1,2953$1,2954$1,3455$1,440
$1,440
RENT COMPS ANALYSIS
  • 125 Gregory Court Mount Holly, NC 5
    • 3 beds 2 baths ∙ 1,485 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,485 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $1,440
    • $0.97
    •  
  • 433 Meller Street Mount Holly, NC 1
    • 3 beds 1 baths ∙ 1,402 Sqft ∙ Built 1920 3 beds 1 baths ∙ 1,402 Sqft ∙ Built 1920
    LEASED 12/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $0.82
    •  
  • 101 Sweetbriar Court Mount Holly, NC 2
    • 3 beds 3 baths ∙ 1,505 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,505 Sqft ∙ Built 1999
    LEASED 02/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.86
    •  
  • 710 Westland Farm Road Mount Holly, NC 3
    • 3 beds 2 baths ∙ 1,479 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,479 Sqft ∙ Built 1973
    LEASED 08/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.88
    •  
  • 112 Deertrack Drive Mount Holly, NC 4
    • 4 beds 3 baths ∙ 1,612 Sqft ∙ Built 1994 4 beds 3 baths ∙ 1,612 Sqft ∙ Built 1994
    LEASED 08/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,345
    • $0.83
    •  
PROPERTY LISTING DETAILS
Robbie Burchfield
1.704.877.5175
Allen Tate Gastonia
BESbswy