Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

132 Lillie Road Stanley, NC 28164

3 Beds 2 Baths 1,759 sqft Built 1979

$309,900

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1979
  • Price/Sqft : $176.18
  • 2 Days on Market
  • MLS # : 3683677
  • Updated Date : 12/12/2020 at 06:58
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,759 sqft
  • Baths : 2 full
Listing Agent

Southern Homes Of The Carolinas

Listing Agent's Description

It’s not every day that you can live in a peaceful, wooded setting such as this home offers and still have incredibly convenient access to uptown Charlotte, the airport and both Lake Norman and Mountain Island Lake! This home offers an oversized 2 car garage, plenty of storage space and even a huge workshop/storage area off of the basement. For all of your entertaining needs you have a screened in porch, an open deck for grilling or sitting, with stairs to the backyard. The kitchen has a spacious dining nook with a bay window and additional bar seating. Not to mention, another dining room with a pocket door leading to the kitchen for easy access for the host. 4 bedrooms, 3 full baths, new carpet, new interior and exterior paint! This home is ready for you!

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

Zip Code: 28164

ZipNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210kPrice in $113k213k

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

Zip Code: 28164

ZipNIR Market*CityMarket2010Year20002019 Q275080085090095010001050110011501200125013001350Rent in $7221375

* 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
Pinewood Elementary School Primary Regular 581 34 6
Mount Holly Middle School Middle Regular 771 41 7
East Gaston High School High Regular 1,122 67 5

Pinewood Elementary School

  • Education Level: Primary
  • # of students: 581
  • # of teachers: 34
6
GreatSchools Rating

Mount Holly Middle School

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

East Gaston High School

  • Education Level: High
  • # of students: 1,122
  • # of teachers: 67
5
GreatSchools Rating
 

$278,910$340,890$309,900

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$1,143
Property Tax -$172
Property Insurance -$60
Property Management Fees -$119
CASH FLOW
$155

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.

$309,900

PROJECTED PRICE

$1,650

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 4.3%
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$5.0k$10k$15k

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$87,874

INVESTMENT

$87,874

Down Payment
$77,475
Rehab Estimate
$5,750
Closing Costs
$4,649

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,143

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $77,475
Loan Amount $232,425
See What Happens When You Reinvest Cash Flow

8

YEARS SAVED

$37,743

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,650

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,530

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,3003$1,650
$1,650
RENT COMPS ANALYSIS
  • 132 Lillie Road Stanley, NC 3
    • 3 beds 2 baths ∙ 1,759 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,759 Sqft ∙ Built 1979
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.94
    •  
  • 2178 Stanley Lucia Road Mount Holly, NC 1
    • 3 beds 1 baths ∙ 1,422 Sqft ∙ Built 1940 3 beds 1 baths ∙ 1,422 Sqft ∙ Built 1940
    property image
    LEASED 07/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.88
    •  
  • 150 Helton Harris Road Stanley, NC 2
    • 4 beds 2 baths ∙ 1,576 Sqft ∙ Built 1977 4 beds 2 baths ∙ 1,576 Sqft ∙ Built 1977
    property image
    LEASED 02/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.82
    •  
PROPERTY LISTING DETAILS
Michael Toste
1.704.258.7878
Southern Homes Of The Carolinas
BESbswy