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135 Howie Street Mount Holly, NC 28120

3 Beds 2 Baths 1,520 sqft Built 1974

$212,500

List Price

$1,100

$990 - $1.2K

Rent Est.

PROPERTY INFO

January 24, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1974
  • Price/Sqft : $139.80
  • 2 Days on Market
  • MLS # : 3701461
  • Updated Date : 01/24/2021 at 01:08
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,520 sqft
  • Baths : 2 full
Listing Agent

Carolinas Realty Connection Llc

Listing Agent's Description

3 bdrm, 2ba full brick home. Recently remodeled bath & kitchen with island, tile backsplash, tile floor, granite counter tops and under cabinet lighting. Custom cabinets with lots of drawers, and storage. 1 yr old electric convection oven, microwave and dishwasher included. Laundry also has new custom cabinets. Bath has new cabinets, granite and plumbing fixtures. All rooms and living room have ceiling fans, Family room has brick wood burning FP. Insulated exterior storm door. Seller has agreed to give $1500. flooring allowance since didn't get to flooring before new house was ready. Outside carport with storage closet, back patio & great storage building 20x12 with electricity. Seller is selling house "As Is"

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: 28120

ZipNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210kPrice in $110k213k

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

Zip Code: 28120

ZipNIR Market*CityMarket2010Year20002019 Q2850900950100010501100115012001250130013501400Rent in $8231440

* 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
Rankin Elementary School Primary Regular 659 34 6
Mount Holly Middle School Middle Regular 771 41 7
Stuart W. Cramer High School High Regular 782 45 NA

Rankin Elementary School

  • Education Level: Primary
  • # of students: 659
  • # of teachers: 34
6
GreatSchools Rating

Mount Holly Middle School

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

Stuart W. Cramer High School

  • Education Level: High
  • # of students: 782
  • # of teachers: 45
NA
GreatSchools Rating
 

$191,250$233,750$212,500

PURCHASE PRICE

$990$1,210$1,100

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,100
EXPENSES Loan Payment -$738
Property Tax -$123
Property Insurance -$56
Property Management Fees -$119
CASH FLOW
$64

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.

$212,500

PROJECTED PRICE

$1,100

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 5.1%
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$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$62,063

INVESTMENT

$62,063

Down Payment
$53,125
Rehab Estimate
$5,750
Closing Costs
$3,188

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$738

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $53,125
Loan Amount $159,375
See What Happens When You Reinvest Cash Flow

7

YEARS SAVED

$17,486

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,100

    LIST RENT
  • $0.72

    LIST RENT PER SQFT
  • $1,288

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,100
1$1,1002$1,1503$1,2954$1,2955$1,345
$1,345
RENT COMPS ANALYSIS
  • 135 Howie Street Mount Holly, NC 1
    • 3 beds 2 baths ∙ 1,520 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,520 Sqft ∙ Built 1974
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.72
    •  
  • 433 Meller Street Mount Holly, NC 2
    • 3 beds 1 baths ∙ 1,402 Sqft ∙ Built 1920 3 beds 1 baths ∙ 1,402 Sqft ∙ Built 1920
    property image
    LEASED 12/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $0.82
    •  
  • 101 Sweetbriar Court Mount Holly, NC 3
    • 3 beds 3 baths ∙ 1,505 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,505 Sqft ∙ Built 1999
    property image
    LEASED 02/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.86
    •  
  • 710 Westland Farm Road Mount Holly, NC 4
    • 3 beds 2 baths ∙ 1,479 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,479 Sqft ∙ Built 1973
    property image
    LEASED 08/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.88
    •  
  • 112 Deertrack Drive Mount Holly, NC 5
    • 4 beds 3 baths ∙ 1,612 Sqft ∙ Built 1994 4 beds 3 baths ∙ 1,612 Sqft ∙ Built 1994
    property image
    LEASED 08/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,345
    • $0.83
    •  
PROPERTY LISTING DETAILS
Kim Ward
1.704.577.2168
Carolinas Realty Connection Llc
BESbswy