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12655 Windyedge Road Huntersville, NC 28078

3 Beds 3 Baths 1,900 sqft Built 2001

$290,000

List Price

$1,530

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $152.63
  • 5 Days on Market
  • MLS # : 3700257
  • Updated Date : 01/22/2021 at 10:53
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,900 sqft
  • Baths : 2 full , 1 half
Listing Agent

Opendoor Brokerage Llc

Listing Agent's Description

This Huntersville two-story home offers granite countertops and a two-car garage. This home is vacant and cleaned regularly.

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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

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
Torrence Creek Elementary School Primary Regular 483 28 8
Francis Bradley Middle School Middle Regular 1,140 59 6
Hopewell High School High Regular 1,653 87 3

Torrence Creek Elementary School

  • Education Level: Primary
  • # of students: 483
  • # of teachers: 28
8
GreatSchools Rating

Francis Bradley Middle School

  • Education Level: Middle
  • # of students: 1,140
  • # of teachers: 59
6
GreatSchools Rating

Hopewell High School

  • Education Level: High
  • # of students: 1,653
  • # of teachers: 87
3
GreatSchools Rating
 

$261,000$319,000$290,000

PURCHASE PRICE

$1,377$1,683$1,530

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,530
EXPENSES Loan Payment -$1,007
Property Tax -$233
Property Insurance -$63
HOA -$19
Property Management Fees -$119
CASH FLOW
$89

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.

$290,000

PROJECTED PRICE

$1,530

PROJECTED RENT

0.53%

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) 8.00%
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

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$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,600

INVESTMENT

$82,600

Down Payment
$72,500
Rehab Estimate
$5,750
Closing Costs
$4,350

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,007

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $72,500
Loan Amount $217,500
See What Happens When You Reinvest Cash Flow

7.33

YEARS SAVED

$26,004

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,530

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $1,620

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,530
1$1,5302$1,5953$1,6454$1,6955$1,799
$1,799
RENT COMPS ANALYSIS
  • 12655 Windyedge Road Huntersville, NC 1
    • 3 beds 3 baths ∙ 1,900 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,900 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,530
    • $0.81
    •  
  • 9400 Shepparton Drive Huntersville, NC 2
    • 3 beds 2 baths ∙ 1,807 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,807 Sqft ∙ Built 1999
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.88
    •  
  • 9116 Old Barnette Place Huntersville, NC 3
    • 4 beds 3 baths ∙ 2,055 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,055 Sqft ∙ Built 1989
    LEASED 03/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,645
    • $0.80
    •  
  • 13207 Meadowmere Road Huntersville, NC 4
    • 3 beds 3 baths ∙ 1,954 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,954 Sqft ∙ Built 2003
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.87
    •  
  • 8601 Cedar Hollow Lane Huntersville, NC 5
    • 3 beds 2 baths ∙ 2,095 Sqft ∙ Built 1993 3 beds 2 baths ∙ 2,095 Sqft ∙ Built 1993
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,799
    • $0.86
    •  
PROPERTY LISTING DETAILS
Verria Hairston
1.704.751.0133
Opendoor Brokerage Llc
BESbswy