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12727 Hollyhock Lane #44 Huntersville, NC 28078

4 Beds 3 Baths 2,335 sqft Built 1993

$315,000

List Price

$1,700

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1993
  • Price/Sqft : $134.90
  • 3 Days on Market
  • MLS # : 3714181
  • Updated Date : 03/05/2021 at 15:25
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,335 sqft
  • Baths : 2 full , 1 half
Listing Agent

Lake Norman Realty, Inc.

Listing Agent's Description

Excellent 4 Bedrooms and 2.5 Bathrooms home with wood floors throughout the Main Level; Beautiful Kitchen, tile floor, island. SUNKEN Living Room for that warm and cozy experience. Formal Dining Room w/columns! Breakfast Room with bay window for that peaceful morning coffee. Masters suite has vaulted ceiling, Bathroom with HEATED MARBLE FLOORS, and New Granite top! Walk-in Attic for easy access storage. Private, FENCED Backyard! Community Pool, Playground and Greenway! Termite bond! Home Warranty through 2022! See virtual tour!!

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

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
 

$283,500$346,500$315,000

PURCHASE PRICE

$1,530$1,870$1,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$1,094
Property Tax -$262
Property Insurance -$71
HOA -$40
Property Management Fees -$119
CASH FLOW
$114

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.

$315,000

PROJECTED PRICE

$1,700

PROJECTED RENT

0.54%

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$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$89,225

INVESTMENT

$89,225

Down Payment
$78,750
Rehab Estimate
$5,750
Closing Costs
$4,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,094

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $78,750
Loan Amount $236,250
See What Happens When You Reinvest Cash Flow

7.5

YEARS SAVED

$29,431

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,700

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $1,670

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,5953$1,6004$1,7005$1,950
$1,950
RENT COMPS ANALYSIS
  • 12727 Hollyhock Lane Huntersville, NC 4
    • 4 beds 3 baths ∙ 2,335 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,335 Sqft ∙ Built 1993
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.73
    •  
  • 13211 Meadowmere Road Huntersville, NC 1
    • 4 beds 3 baths ∙ 2,026 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,026 Sqft ∙ Built 2004
    LEASED 10/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.74
    •  
  • 8427 Rolling Meadows Lane Huntersville, NC 2
    • 3 beds 3 baths ∙ 2,152 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,152 Sqft ∙ Built 2004
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.74
    •  
  • 9224 Agnes Park Lane Huntersville, NC 3
    • 3 beds 3 baths ∙ 2,507 Sqft ∙ Built 1990 3 beds 3 baths ∙ 2,507 Sqft ∙ Built 1990
    LEASED 04/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.64
    •  
  • 12512 Angel Oak Drive Huntersville, NC 5
    • 4 beds 3 baths ∙ 2,625 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,625 Sqft ∙ Built 1991
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.74
    •  
PROPERTY LISTING DETAILS
Lance Witt
1.704.778.2260
Lake Norman Realty, Inc.
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3714181
Last Updated: 03/05/2021
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