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13119 Meadowmere Road Huntersville, NC 28078

3 Beds 3 Baths 1,568 sqft Built 2005

INVESTimate

$229,000

List Price

$1,540

$1,386 - $1,694

Rent Est.

$241,412  ( +5.42%)   1 YR EST. FORECAST

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
FACTS
  • Built In 2005
  • Price/Sqft : $146.05
  • 9 Days on Market
  • MLS # : 3651992
  • Updated Date : 08/25/2020 at 17:19
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,568 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Lake Norman

Listing Agent's Description

Location, location, location! Great curb appeal & located in desirable Huntersville! GORGEOUS HARDWOODS throughout main level. Large great room w/ a cozy gas log fireplace. Dining room features CROWN MOLDING & WAINSCOTING. Spacious kitchen w/ lots of cabinets, GRANITE COUNTERS & TILE BACKSPLASH. Powder room on the main level with pedestal sink. Upstairs you'll find the Master suite with trey ceiling & large walk-in closet with tons of shelving. Master bath features DUAL SINKS & a neutral vanity top. There are 2 secondary bedrooms that are spacious w/ plush carpeting & ample closet space. Second bath has a tub/shower combo. Backyard is a perfect size for entertaining guests or just relaxing. Conveniently located and minutes to I-77 & 485, shopping, dining, hospitals, & more! This one won't last long!

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
 

$206,100$251,900$229,000

PURCHASE PRICE

$1,386$1,694$1,540

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,540
EXPENSES Loan Payment -$845
Property Tax -$196
Property Insurance -$57
HOA -$19
Property Management Fees -$139
CASH FLOW
$285

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.

$229,000

PROJECTED PRICE

$1,540

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 5.42%
Maintenance Year (1-5) 8.00%
Vacancy 6.31%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$66,435

INVESTMENT

$66,435

Down Payment
$57,250
Rehab Estimate
$5,750
Closing Costs
$3,435

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$845

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $57,250
Loan Amount $171,750
See What Happens When You Reinvest Cash Flow

11.17

YEARS SAVED

$45,011

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,540

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $1,537

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,5403$1,5504$1,5705$1,600
$1,600
RENT COMPS ANALYSIS
  • 13119 Meadowmere Road Huntersville, NC 2
    • 3 beds 3 baths ∙ 1,568 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,568 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,540
    • $0.98
    •  
  • 12512 Walden Lea Drive Huntersville, NC 1
    • 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 2001
    LEASED 12/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.96
    •  
  • 12503 Walden Lea Drive Huntersville, NC 3
    • 3 beds 3 baths ∙ 1,506 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,506 Sqft ∙ Built 2002
    LEASED 05/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.03
    •  
  • 12547 Walden Lea Drive Huntersville, NC 4
    • 3 beds 3 baths ∙ 1,615 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,615 Sqft ∙ Built 2001
    LEASED 02/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,570
    • $0.97
    •  
  • 13219 Meadowmere Road Huntersville, NC 5
    • 3 beds 3 baths ∙ 1,596 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,596 Sqft ∙ Built 2004
    LEASED 09/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.00
    •  
PROPERTY LISTING DETAILS
Matt Sarver
1.704.506.2323
Keller Williams Lake Norman
BESbswy