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1255 Hudson Avenue Gastonia, NC 28054

3 Beds 1 Baths 1,464 sqft Built 1961

$180,000

List Price

$1,300

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1961
  • Price/Sqft : $122.95
  • 4 Days on Market
  • MLS # : 3700265
  • Updated Date : 01/22/2021 at 13:50
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,464 sqft
  • Baths : 1 full
Listing Agent

Odell Realty, Llc

Listing Agent's Description

So many things to love about this beautifully remodeled ranch in Gastonia! At the end of a quiet culdesac, this home has a large repainted front porch, new landscaping in the front yard, and a level backyard that is fenced in. The backyard also boasts a large wired workshop that has recently been re-sided. The home has fresh paint inside and out, new vinyl plank flooring, all new insulated windows, new hot water heater, new pex plumbing, and an all new kitchen with new cabinets and appliances! The chimney has been cleaned and serviced and there's even a space in the home for a full bathroom to be added if desired. Just up the street you'll find Ferguson Park, the Catawba Creek Golf Course, and Avon & Catawba Creeks Greenway!

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: 28054

ZipNIR Market*CityMarket2010Year2000201980k90k100k110k120k130k140k150k160k170k180k190k200k210kPrice in $74k213k

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

Zip Code: 28054

ZipNIR Market*CityMarket2010Year20002019 Q270075080085090095010001050110011501200125013001350Rent in $6771375

* 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
Lingerfeldt Elementary School Primary Regular 494 32 4
York Chester Middle School Middle Regular 389 29 3
Hunter Huss High School High Regular 1,148 67 3

Lingerfeldt Elementary School

  • Education Level: Primary
  • # of students: 494
  • # of teachers: 32
4
GreatSchools Rating

York Chester Middle School

  • Education Level: Middle
  • # of students: 389
  • # of teachers: 29
3
GreatSchools Rating

Hunter Huss High School

  • Education Level: High
  • # of students: 1,148
  • # of teachers: 67
3
GreatSchools Rating
 

$162,000$198,000$180,000

PURCHASE PRICE

$1,170$1,430$1,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,300
EXPENSES Loan Payment -$625
Property Tax -$149
Property Insurance -$55
Property Management Fees -$119
CASH FLOW
$352

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$180,000

PROJECTED PRICE

$1,300

PROJECTED RENT

0.72%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 6.0%
Maintenance Year (1-5) 8.00%
Vacancy 6.02%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$53,450

INVESTMENT

$53,450

Down Payment
$45,000
Rehab Estimate
$5,750
Closing Costs
$2,700

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$625

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $45,000
Loan Amount $135,000
See What Happens When You Reinvest Cash Flow

14.17

YEARS SAVED

$41,536

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,300

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,318

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,050
1$1,0502$1,2083$1,3004$1,4195$1,580
$1,580
RENT COMPS ANALYSIS
  • 1255 Hudson Avenue Gastonia, NC 3
    • 3 beds 1 baths ∙ 1,464 Sqft ∙ Built 1961 3 beds 1 baths ∙ 1,464 Sqft ∙ Built 1961
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.89
    •  
  • 1218 Congress Street Gastonia, NC 1
    • 3 beds 1 baths ∙ 1,213 Sqft ∙ Built 1920 3 beds 1 baths ∙ 1,213 Sqft ∙ Built 1920
    LEASED 11/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,050
    • $0.87
    •  
  • 1011 Holly Drive Gastonia, NC 2
    • 3 beds 2 baths ∙ 1,260 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,260 Sqft ∙ Built 1964
    LEASED 04/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,208
    • $0.96
    •  
  • 607 S South Street Gastonia, NC 4
    • 3 beds 1 baths ∙ 1,696 Sqft ∙ Built 1926 3 beds 1 baths ∙ 1,696 Sqft ∙ Built 1926
    LEASED 08/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,419
    • $0.84
    •  
  • 207 Forest Hill Lane Gastonia, NC 5
    • 3 beds 2 baths ∙ 1,629 Sqft ∙ Built 1929 3 beds 2 baths ∙ 1,629 Sqft ∙ Built 1929
    LEASED 01/14/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,580
    • $0.97
    •  
PROPERTY LISTING DETAILS
Mary Caroline Ardoin
1.704.942.6337
Odell Realty, Llc
BESbswy