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13339 Mcguffy Drive Huntersville, NC 28078

4 Beds 3 Baths 2,848 sqft Built 2020

$431,990

List Price

$2,120

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $151.68
  • 14 Days on Market
  • MLS # : 3685981
  • Updated Date : 12/04/2020 at 09:21
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,848 sqft
  • Baths : 3 full
Listing Agent

M/i Homes

Listing Agent's Description

Homesite 28 – This Cambridge II spacious and open floorplan comes with everything that you would want in a new home. Gourmet kitchen with a large island and stunning cabinets. Owner's suite is on the main level along with an additional main level bedroom. Upstairs, you have a large loft with 2 bedrooms and 1 full bathroom. This home is priced to sell and won't last long!

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: 28078

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $118k318k

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

Zip Code: 28078

ZipNIR 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
Huntersville Elementary School Primary Regular 729 42 8
Bailey Middle School Middle Regular 1,616 77 9
William Amos Hough High School High Regular 2,453 120 8

Huntersville Elementary School

  • Education Level: Primary
  • # of students: 729
  • # of teachers: 42
8
GreatSchools Rating

Bailey Middle School

  • Education Level: Middle
  • # of students: 1,616
  • # of teachers: 77
9
GreatSchools Rating

William Amos Hough High School

  • Education Level: High
  • # of students: 2,453
  • # of teachers: 120
8
GreatSchools Rating
 

$388,791$475,189$431,990

PURCHASE PRICE

$1,908$2,332$2,120

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,120
EXPENSES Loan Payment -$1,594
Property Tax -$347
Property Insurance -$81
HOA -$83
Property Management Fees -$119
CASH FLOW
-$103

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$431,990

PROJECTED PRICE

$2,120

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 4.9%
Maintenance Year (1-5) 3.00%
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$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$116,477

INVESTMENT

$116,477

Down Payment
$107,998
Rehab Estimate
$2,000
Closing Costs
$6,480

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,594

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $107,998
Loan Amount $323,993
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$22,073

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,120

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $2,115

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,0453$2,0954$2,1205$2,150
$2,150
RENT COMPS ANALYSIS
  • 13339 Mcguffy Drive Huntersville, NC 4
    • 4 beds 3 baths ∙ 2,848 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,848 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $2,120
    • $0.74
    •  
  • 15207 Colonial Park Drive Huntersville, NC 1
    • 4 beds 3 baths ∙ 2,807 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,807 Sqft ∙ Built 2015
    LEASED 08/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.71
    •  
  • 12803 Regent Grove Lane Huntersville, NC 2
    • 4 beds 3 baths ∙ 2,893 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,893 Sqft ∙ Built 2005
    LEASED 03/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,045
    • $0.71
    •  
  • 15120 Liberty Ridge Lane Huntersville, NC 3
    • 4 beds 3 baths ∙ 2,985 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,985 Sqft ∙ Built 2017
    LEASED 12/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.70
    •  
  • 13225 Hidcote Court Huntersville, NC 5
    • 4 beds 2 baths ∙ 2,657 Sqft ∙ Built 1997 4 beds 2 baths ∙ 2,657 Sqft ∙ Built 1997
    LEASED 02/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.81
    •  
PROPERTY LISTING DETAILS
Alan Beulah
1.704.208.8125
M/i Homes
BESbswy