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13 Oak Hill Road Candler, NC 28715

2 Beds 2 Baths 876 sqft Built 1954

$260,000

List Price

$1,490

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1954
  • Price/Sqft : $296.80
  • 2 Days on Market
  • MLS # : CAR3760733
  • Updated Date : 07/12/2021 at 14:42
CONSTRUCTION
  • Beds : 2
  • Floor Size : 876 sqft
  • Baths : 1 full , 1 half
Listing Agent

Beverly-hanks, Merrimon

Listing Agent's Description

Cute bungalow in convenient location, close to Exit 44 of I-40, exterior freshly painted, covered porch and huge deck in rear, fenced in back yard, one car garage in basement, wood floors.

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: 28715

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $95k265k

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

Zip Code: 28715

ZipNIR Market*CityMarket2015Year2011 Q42019 Q2100010501100115012001250130013501400145015001550Rent in $9881577

* 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
Sand Hill-venable Elementary School Primary Regular 722 48 5
Enka Middle School Middle Unknown NA
Enka High School High Unknown NA

Sand Hill-venable Elementary School

  • Education Level: Primary
  • # of students: 722
  • # of teachers: 48
5
GreatSchools Rating

Enka Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Enka High School

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

$234,000$286,000$260,000

PURCHASE PRICE

$1,341$1,639$1,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,490
EXPENSES Loan Payment -$903
Property Tax -$129
Property Insurance -$43
Property Management Fees -$119
CASH FLOW
$296

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 13% of earned rent to cover both maintenance and periods of vacancy.

$260,000

PROJECTED PRICE

$1,490

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 6.0%
Maintenance Year (1-5) 8.00%
Vacancy 5.20%
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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,650

INVESTMENT

$74,650

Down Payment
$65,000
Rehab Estimate
$5,750
Closing Costs
$3,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 25% down payment or higher enables the proceeds from the asset to cover all costs.

$903

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $65,000
Loan Amount $195,000
See What Happens When You Reinvest Cash Flow

11.33

YEARS SAVED

$44,732

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,490

    LIST RENT
  • $1.7

    LIST RENT PER SQFT
  • $1,848

    COMP ESTIMATED VALUE
  • $2.11

    COMP AVG. RENT PER SQFT
Comps Range
$1,490
1$1,4902$1,700
$1,700
RENT COMPS ANALYSIS
  • 13 Oak Hill Road Candler, NC 1
    • 2 beds 2 baths ∙ 876 Sqft ∙ Built 1954 2 beds 2 baths ∙ 876 Sqft ∙ Built 1954
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,490
    • $1.70
    •  
  • 150 Oak Hill Road Candler, NC 2
    • 2 beds 1 baths ∙ 855 Sqft ∙ Built 1940 2 beds 1 baths ∙ 855 Sqft ∙ Built 1940
    property image
    LEASED 03/17/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.99
    •  
PROPERTY LISTING DETAILS
Greg Hnatin
1.828.335.0366
Beverly-hanks, Merrimon
BESbswy