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13415 Philip Michael Road 
Huntersville, NC
28078
3 Beds 2 Baths 1,496 sqft
Built 2002
INVESTimate
$271,111
List Price
$77,594
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PROPERTY INFO
FACTS
- Built In 2002
- Price/Sqft : $181.22
- 7 Days on Market
- MLS # : 3653649
- Updated Date : 08/25/2020 at 10:48
CONSTRUCTION
- Beds : 3
- Floor Size : 1,496 sqft
- Baths : 2 full
Listing Agent
Keller Williams Lake Norman
Listing Agent's Description
Welcome home to this lovely RANCH home in desirable HUNTERSVILLE! Step inside to gorgeous laminate wood floors throughout. Spacious FORMAL DINING room offers a beautiful tray ceiling. Open concept, split floor plan features a large center GREAT ROOM w/ gas fireplace & vaulted ceiling that extends throughout the kitchen. The Kitchen is light & bright & complete w/ double sinks & lovely tile backsplash. Master bath is nicely sized w/ a WIC & private bath w/ dual sinks, separate shower & garden tub. Two secondary bedrooms are generous in size & offer ample closet space & share a secondary bath with tub/shower combo. The rear yard offers plenty of entertaining space w/ an oversized patio that extends the entire length of the home. You'll also find extra parking space at the expanded driveway leading to your 2 car garage. Conveniently located just minutes to I-77, uptown Charlotte, hospitals, Birkdale Village, restaurants, shopping, Lake Norman & more! Don't miss this opportunity!
SEE MORE
- 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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Huntersville
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,530 |
| EXPENSES | Loan Payment | -$1,000 |
| Property Tax | -$218 | |
| Property Insurance | -$55 | |
| HOA | -$17 | |
| Property Management Fees | -$138 | |
|
CASH FLOW
$102
|
||
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.
$271,111
PROJECTED PRICE
$1,530
PROJECTED RENT
0.56%
PROJECTED RENT / PRICE RATIO
| 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
INVESTMENT
$77,594
LOAN DETAILS
$1,000
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $67,778 |
| Loan Amount | $203,333 |
6.67
YEARS SAVED
$26,206
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,530
LIST RENT -
$1.02
LIST RENT PER SQFT
-
$1,533
COMP ESTIMATED VALUE -
$1.03
COMP AVG. RENT PER SQFT
Comps Range
-
13415 Philip Michael Road Huntersville, NC 3
- 3 beds 2 baths ∙ 1,496 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,496 Sqft ∙ Built 2002
![property image]()
- Rent
- Rent Per SQFT
- $1,530
- $1.02
-
15181 Tracy Beth Road Huntersville, NC 1
- 3 beds 3 baths ∙ 1,394 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,394 Sqft ∙ Built 2000
![property image]()
LEASED 09/04/19- Rent
- Rent Per SQFT
- $1,375
- $0.99
-
15245 Eric Kyle Drive Huntersville, NC 2
- 3 beds 2 baths ∙ 1,346 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,346 Sqft ∙ Built 1999
![property image]()
LEASED 10/16/19- Rent
- Rent Per SQFT
- $1,425
- $1.06
-
15210 Tracy Beth Road Huntersville, NC 4
- 3 beds 3 baths ∙ 1,556 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,556 Sqft ∙ Built 2000
![property image]()
LEASED 08/21/20- Rent
- Rent Per SQFT
- $1,600
- $1.03
-
15270 Eric Kyle Drive Huntersville, NC 5
- 3 beds 3 baths ∙ 1,631 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,631 Sqft ∙ Built 1999
![property image]()
LEASED 07/01/20- Rent
- Rent Per SQFT
- $1,650
- $1.01
PROPERTY LISTING DETAILS
1.704.506.2323
Keller Williams Lake Norman
