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12731 Vantage Point Lane Huntersville, NC 28078

3 Beds 2 Baths 1,905 sqft Built 2000

$330,000

List Price

$1,500

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $173.23
  • 8 Days on Market
  • MLS # : 3715723
  • Updated Date : 03/13/2021 at 00:05
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,905 sqft
  • Baths : 2 full
Listing Agent

Charlotte Area Homes Inc

Listing Agent's Description

Be prepared to be AMAZED with this immaculate, newly renovated ranch house in Huntersville. This light and bright house will make you want to call it HOME! Your new home is located in the sought- after Barkley neighborhood. It has a 2019 architectural shingle roof, 2018 HVAC, new wood flooring and new, plush carpeting in the master bedroom. The house has freshly painted walls with soothing pastels and there is unique detailing throughout the house. Both bathrooms are remodeled and the master bath has dual sinks with onyx countertops. There are brand new lighting fixtures throughout the house, vaulted ceilings with wood detail in great room, and lots of tall ceilings in the rest of the home. Kitchen has granite countertops, live slab shelving, and specialty lighting, complete with new cabinets. (Blue chandelier in dining room, washer/dryer, painting above fireplace do not convey)

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: Barkley

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $118k323k

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

Neighborhood: Barkley

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8441865

* 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
Barnette Elementary School Primary Unknown NA
Francis Bradley Middle School Middle Regular 1,140 59 6
Hopewell High School High Regular 1,653 87 3

Barnette Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
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
 

$297,000$363,000$330,000

PURCHASE PRICE

$1,350$1,650$1,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,500
EXPENSES Loan Payment -$1,146
Property Tax -$265
Property Insurance -$63
HOA -$48
Property Management Fees -$119
CASH FLOW
-$142

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.

$330,000

PROJECTED PRICE

$1,500

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 6.2%
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-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$93,200

INVESTMENT

$93,200

Down Payment
$82,500
Rehab Estimate
$5,750
Closing Costs
$4,950

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,146

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $82,500
Loan Amount $247,500
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$9,598

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,500

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $1,505

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,4503$1,4754$1,5005$1,695
$1,695
RENT COMPS ANALYSIS
  • 12731 Vantage Point Lane Huntersville, NC 4
    • 3 beds 2 baths ∙ 1,905 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,905 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.79
    •  
  • 6749 Tanners Creek Drive Huntersville, NC 1
    • 3 beds 3 baths ∙ 1,820 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,820 Sqft ∙ Built 2002
    LEASED 10/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.80
    •  
  • 8027 Gleen Oak Lane Huntersville, NC 2
    • 3 beds 3 baths ∙ 2,000 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,000 Sqft ∙ Built 2006
    LEASED 12/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.73
    •  
  • 13224 Kennerly Drive Huntersville, NC 3
    • 3 beds 3 baths ∙ 1,875 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,875 Sqft ∙ Built 2004
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.79
    •  
  • 6927 Cascade Dream Court Huntersville, NC 5
    • 3 beds 3 baths ∙ 1,988 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,988 Sqft ∙ Built 2006
    LEASED 01/31/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.85
    •  
PROPERTY LISTING DETAILS
Lourdes Diaz
1.954.610.7600
Charlotte Area Homes Inc
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3715723
Last Updated: 03/13/2021
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