Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

13801 Castleford Drive Mint Hill, NC 28227

3 Beds 3 Baths 1,825 sqft Built 1991

$300,000

List Price

$1,550

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1991
  • Price/Sqft : $164.38
  • 2 Days on Market
  • MLS # : 3694658
  • Updated Date : 01/16/2021 at 18:32
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,825 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Ballantyne Area

Listing Agent's Description

Ready for you! Located in the ever-popular Oxford Glen neighborhood in Mint Hill, this spacious 2 story home is sited on almost a half acre of land, with almost a fully fenced yard includes a storage building and a garden plot. The home features a classic layout with a formal dining room and living room towards the front of the home and an open floor plan between the Kitchen, Breakfast Room and Family Room. The Family Room has a fireplace and sliding glass doors to an expansive back deck - great for grilling and outdoor gatherings. The second level has a large Master Suite featuring a trey ceiling with lighted ceiling fan, a walk in closet, and updated Master Bathroom vanity plus a deep garden tub and separate walk in shower. Two secondary bedrooms are good sized. The interior was just freshly painted and carpets cleaned for it's new owners. The house is ready to go!

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: Mint Hill

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $113k291k

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

Neighborhood: Mint Hill

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8421713

* 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
Bain Elementary School Primary Regular 899 49 10
Mint Hill Middle School Middle Regular 1,249 64 5
Independence High School High Regular 2,349 128 6

Bain Elementary School

  • Education Level: Primary
  • # of students: 899
  • # of teachers: 49
10
GreatSchools Rating

Mint Hill Middle School

  • Education Level: Middle
  • # of students: 1,249
  • # of teachers: 64
5
GreatSchools Rating

Independence High School

  • Education Level: High
  • # of students: 2,349
  • # of teachers: 128
6
GreatSchools Rating
 

$270,000$330,000$300,000

PURCHASE PRICE

$1,395$1,705$1,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,550
EXPENSES Loan Payment -$1,042
Property Tax -$228
Property Insurance -$62
HOA -$4
Property Management Fees -$119
CASH FLOW
$95

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.

$300,000

PROJECTED PRICE

$1,550

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 5.2%
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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530$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$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,042

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $75,000
Loan Amount $225,000
See What Happens When You Reinvest Cash Flow

6.67

YEARS SAVED

$24,354

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,550

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,633

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,5503$1,6504$1,6955$1,750
$1,750
RENT COMPS ANALYSIS
  • 13801 Castleford Drive Mint Hill, NC 2
    • 3 beds 3 baths ∙ 1,825 Sqft ∙ Built 1991 3 beds 3 baths ∙ 1,825 Sqft ∙ Built 1991
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.85
    •  
  • 14013 Maple Hollow Lane Mint Hill, NC 1
    • 4 beds 2 baths ∙ 1,477 Sqft ∙ Built 1984 4 beds 2 baths ∙ 1,477 Sqft ∙ Built 1984
    property image
    LEASED 10/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.94
    •  
  • 14900 Rothwell Drive Mint Hill, NC 3
    • 4 beds 3 baths ∙ 1,820 Sqft ∙ Built 1988 4 beds 3 baths ∙ 1,820 Sqft ∙ Built 1988
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.91
    •  
  • 8006 Glamorgan Lane Matthews, NC 4
    • 4 beds 3 baths ∙ 2,000 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,000 Sqft ∙ Built 1997
    property image
    LEASED 05/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.85
    •  
  • 3620 Wild Rose Court Matthews, NC 5
    • 3 beds 3 baths ∙ 1,963 Sqft ∙ Built 1994 3 beds 3 baths ∙ 1,963 Sqft ∙ Built 1994
    property image
    LEASED 02/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.89
    •  
PROPERTY LISTING DETAILS
Jane Cross
1.704.608.0228
Keller Williams Ballantyne Area
BESbswy