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13517 Alexander Lane Huntersville, NC 28078

3 Beds 2 Baths 1,911 sqft Built 1962

$325,000

List Price

$1,610

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1962
  • Price/Sqft : $170.07
  • 2 Days on Market
  • MLS # : 3698524
  • Updated Date : 01/16/2021 at 10:05
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,911 sqft
  • Baths : 2 full
Listing Agent

Realty Dynamics Inc.

Listing Agent's Description

RARE move-in-ready all-brick ranch on nearly a half acre in the heart of Huntersville! Looking for peaceful, tree-lined seclusion convenient to 77, 485, shopping, and the Lake Norman area? Here it is! Hough High district! No HOA! Enjoy this modernized classic's upscale craftsmanship with hardwood floors, crown moulding, custom blinds, and fresh neutral paint colors throughout. Vast, light-filled open kitchen combines cooking and dining areas. Features granite countertops, butcher block island, and brick fireplace. Private den/study features built-in shelving. Oversized mudroom/laundry room is a huge convenience. Take in panoramic views of the manicured backyard from the stone patio with hard-piped natural gas grill. Newer 10'x16' shed on slab is perfect for your riding mower and other equipment. All the major maintenance has been done for you  with new roof (2013), new windows (2013), new water heater (2014), all-new HVAC (2014), new carport roof (2020), new skylight (2020), and more.

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
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
 

$292,500$357,500$325,000

PURCHASE PRICE

$1,449$1,771$1,610

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,610
EXPENSES Loan Payment -$1,129
Property Tax -$275
Property Insurance -$63
Property Management Fees -$119
CASH FLOW
$24

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.

$325,000

PROJECTED PRICE

$1,610

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 5.4%
Maintenance Year (1-5) 8.00%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$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$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$91,875

INVESTMENT

$91,875

Down Payment
$81,250
Rehab Estimate
$5,750
Closing Costs
$4,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,129

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $81,250
Loan Amount $243,750
See What Happens When You Reinvest Cash Flow

6.08

YEARS SAVED

$22,160

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,610

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,653

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,425
1$1,4252$1,5953$1,5954$1,6105$1,650
$1,650
RENT COMPS ANALYSIS
  • 13517 Alexander Lane Huntersville, NC 4
    • 3 beds 2 baths ∙ 1,911 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,911 Sqft ∙ Built 1962
    • Rent
    • Rent Per SQFT
    •  
    • $1,610
    • $0.84
    •  
  • 14044 Garden District Row Huntersville, NC 1
    • 3 beds 3 baths ∙ 1,632 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,632 Sqft ∙ Built 2003
    LEASED 06/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $0.87
    •  
  • 13555 Aldenbrook Drive Huntersville, NC 2
    • 3 beds 3 baths ∙ 1,880 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,880 Sqft ∙ Built 2005
    LEASED 04/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.85
    •  
  • 108 Virginia Avenue Huntersville, NC 3
    • 3 beds 2 baths ∙ 1,687 Sqft ∙ Built 1969 3 beds 2 baths ∙ 1,687 Sqft ∙ Built 1969
    LEASED 08/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.95
    •  
  • 12921 Cheverly Drive Huntersville, NC 5
    • 4 beds 3 baths ∙ 2,100 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,100 Sqft ∙ Built 2006
    LEASED 05/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.79
    •  
PROPERTY LISTING DETAILS
Stephen Scott
1.704.779.6194
Realty Dynamics Inc.
BESbswy