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13718 Berkley Avenue #438 Huntersville, NC 28078

3 Beds 3 Baths 2,430 sqft Built 2021

$463,830

List Price

$2,160

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
SINGLE-FAMILY
February 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $190.88
  • 7 Days on Market
  • MLS # : 3711157
  • Updated Date : 02/24/2021 at 11:52
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,430 sqft
  • Baths : 3 full
Listing Agent

Pulte Home Corporation

Listing Agent's Description

Popular Dunwoody Plan! Featuring Fireplace, Side Load Garage, Screened Lanai, Tray Celling, Gourmet Kitchen, open floor plan on a great homesite!

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
Blythe Elementary School Primary Regular 1,038 67 5
J.m. Alexander Middle School Middle Regular 865 40 4
North Mecklenburg High School High Regular 1,881 101 3

Blythe Elementary School

  • Education Level: Primary
  • # of students: 1,038
  • # of teachers: 67
5
GreatSchools Rating

J.m. Alexander Middle School

  • Education Level: Middle
  • # of students: 865
  • # of teachers: 40
4
GreatSchools Rating

North Mecklenburg High School

  • Education Level: High
  • # of students: 1,881
  • # of teachers: 101
3
GreatSchools Rating
 

$417,447$510,213$463,830

PURCHASE PRICE

$1,944$2,376$2,160

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,160
EXPENSES Loan Payment -$1,611
Property Tax -$371
Property Insurance -$73
HOA -$46
Property Management Fees -$119
CASH FLOW
-$60

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.

$463,830

PROJECTED PRICE

$2,160

PROJECTED RENT

0.47%

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$1.4M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

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$124,915

INVESTMENT

$124,915

Down Payment
$115,958
Rehab Estimate
$2,000
Closing Costs
$6,957

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,611

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $115,958
Loan Amount $347,873
See What Happens When You Reinvest Cash Flow

4.92

YEARS SAVED

$23,229

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,160

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $2,181

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,1003$2,1604$2,2005$2,400
$2,400
RENT COMPS ANALYSIS
  • 13718 Berkley Avenue Huntersville, NC 3
    • 3 beds 3 baths ∙ 2,430 Sqft ∙ Built 2021 3 beds 3 baths ∙ 2,430 Sqft ∙ Built 2021
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,160
    • $0.89
    •  
  • 10207 Halston Circle Huntersville, NC 1
    • 4 beds 3 baths ∙ 2,350 Sqft ∙ Built 2009 4 beds 3 baths ∙ 2,350 Sqft ∙ Built 2009
    property image
    LEASED 02/19/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.85
    •  
  • 12620 Es Draper Drive Huntersville, NC 2
    • 4 beds 3 baths ∙ 2,246 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,246 Sqft ∙ Built 2019
    property image
    LEASED 03/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.93
    •  
  • 10515 Blackstone Drive Huntersville, NC 4
    • 3 beds 3 baths ∙ 2,622 Sqft ∙ Built 2011 3 beds 3 baths ∙ 2,622 Sqft ∙ Built 2011
    property image
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.84
    •  
  • 13521 Serenity Street Huntersville, NC 5
    • 3 beds 3 baths ∙ 2,596 Sqft ∙ Built 2015 3 beds 3 baths ∙ 2,596 Sqft ∙ Built 2015
    property image
    LEASED 06/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.92
    •  
PROPERTY LISTING DETAILS
Cindy Lisiecki
1.704.497.3550
Pulte Home Corporation
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3711157
Last Updated: 02/24/2021
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