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129 Abel Peterson Drive Mount Holly, NC 28120

3 Beds 3 Baths 2,100 sqft Built 2018

$280,000

List Price

$1,770

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $133.33
  • 5 Days on Market
  • MLS # : 3710839
  • Updated Date : 02/27/2021 at 00:05
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,100 sqft
  • Baths : 2 full , 1 half
Listing Agent

Helen Adams Realty

Listing Agent's Description

Immaculate "like new" home in the desirable Rhyne's Trace with welcoming front porch & spacious open floor plan. This home has tons of natural light, showcasing the gorgeous kitchen w large island & lots of counter space. The Santa Cecelia Granite pairs beautifully with the upgraded cabinetry. The main floor features a generous Owners Suite with huge walk-in closet and a large laundry room. The second floor features 2 spacious bedrooms w large closets plus a comfortable loft, to be used as a play or media room. This "turn-key" home will sell fast. Hurry, will not last!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 28120

ZipNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200k210kPrice in $90k213k

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

Zip Code: 28120

ZipNIR Market*CityMarket2010Year20002019 Q285090095010001050110011501200125013001350Rent in $8231397

* 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
North Belmont Elementary School Primary Regular 414 25 5
Mount Holly Middle School Middle Regular 771 41 7
Stuart W. Cramer High School High Regular 782 45 NA

North Belmont Elementary School

  • Education Level: Primary
  • # of students: 414
  • # of teachers: 25
5
GreatSchools Rating

Mount Holly Middle School

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

Stuart W. Cramer High School

  • Education Level: High
  • # of students: 782
  • # of teachers: 45
NA
GreatSchools Rating
 

$252,000$308,000$280,000

PURCHASE PRICE

$1,593$1,947$1,770

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,770
EXPENSES Loan Payment -$973
Property Tax -$332
Property Insurance -$67
HOA -$17
Property Management Fees -$119
CASH FLOW
$263

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.

$280,000

PROJECTED PRICE

$1,770

PROJECTED RENT

0.63%

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$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

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$79,950

INVESTMENT

$79,950

Down Payment
$70,000
Rehab Estimate
$5,750
Closing Costs
$4,200

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$973

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $70,000
Loan Amount $210,000
See What Happens When You Reinvest Cash Flow

9.58

YEARS SAVED

$38,008

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,770

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,785

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,745
1$1,7452$1,7703$1,8954$1,9005$1,995
$1,995
RENT COMPS ANALYSIS
  • 129 Abel Peterson Drive Mount Holly, NC 2
    • 3 beds 3 baths ∙ 2,100 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,100 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $1,770
    • $0.84
    •  
  • 125 Lighthouse Road Mount Holly, NC 1
    • 4 beds 3 baths ∙ 2,200 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,200 Sqft ∙ Built 2000
    LEASED 09/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,745
    • $0.79
    •  
  • 124 Abel Peterson Drive Mount Holly, NC 3
    • 3 beds 3 baths ∙ 2,089 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,089 Sqft ∙ Built 2018
    LEASED 01/28/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.91
    •  
  • 111 Highland Street Belmont, NC 4
    • 3 beds 2 baths ∙ 2,190 Sqft ∙ Built 1956 3 beds 2 baths ∙ 2,190 Sqft ∙ Built 1956
    LEASED 11/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.87
    •  
  • 101 Margaret Hoffman Drive Mount Holly, NC 5
    • 4 beds 3 baths ∙ 2,403 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,403 Sqft ∙ Built 2016
    LEASED 07/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.83
    •  
PROPERTY LISTING DETAILS
Keith Hensel
1.704.231.7272
Helen Adams Realty
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3710839
Last Updated: 02/27/2021
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