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14036 Alley Son Street Huntersville, NC 28078

3 Beds 3 Baths 2,054 sqft Built 2001

$339,900

List Price

$1,660

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $165.48
  • 9 Days on Market
  • MLS # : 3688108
  • Updated Date : 12/10/2020 at 09:44
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,054 sqft
  • Baths : 2 full , 1 half
Listing Agent

Rowan Realty Ltd.

Listing Agent's Description

This is a charming and beautifully decorated home in sought after Vermillion, on a lovely tree-lined street. Relax on the spacious rocking chair front porch or the back patio with pavers and outdoor firepit. The backyard is enclosed with a privacy fence. Enjoy the great landscaping with lighting that adds ambience at night. Inside, you will find 3 bedrooms, 2.5 baths, dining room, office, and an open family room, kitchen and breakfast room. The kitchen features granite counters, stainless steel appliances and the family room has a nice wood burning fireplace. The master bedroom has a renovated bath with beautiful finishes. The attached 2 car garage has a work bench for the hobbyist. Make an appointment today to see this home that shows like a model. You will not be disappointed, and it is walking distance to many of the amenities Vermillion has to offer. Listing agent is related.

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: Vermillion

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $118k359k

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

Neighborhood: Vermillion

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800190020002100Rent in $8442195

* 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
 

$305,910$373,890$339,900

PURCHASE PRICE

$1,494$1,826$1,660

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,660
EXPENSES Loan Payment -$1,254
Property Tax -$297
Property Insurance -$66
HOA -$46
Property Management Fees -$119
CASH FLOW
-$121

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.

$339,900

PROJECTED PRICE

$1,660

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 4.7%
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-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$95,824

INVESTMENT

$95,824

Down Payment
$84,975
Rehab Estimate
$5,750
Closing Costs
$5,099

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,254

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $84,975
Loan Amount $254,925
See What Happens When You Reinvest Cash Flow

3.92

YEARS SAVED

$14,418

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,660

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $1,700

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6503$1,6604$1,6995$1,900
$1,900
RENT COMPS ANALYSIS
  • 14036 Alley Son Street Huntersville, NC 3
    • 3 beds 3 baths ∙ 2,054 Sqft ∙ Built 2001 3 beds 3 baths ∙ 2,054 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,660
    • $0.81
    •  
  • 13555 Aldenbrook Drive Huntersville, NC 1
    • 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
    •  
  • 12921 Cheverly Drive Huntersville, NC 2
    • 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
    •  
  • 12220 Huntersville Concord Road Huntersville, NC 4
    • 4 beds 4 baths ∙ 2,060 Sqft ∙ Built 2018 4 beds 4 baths ∙ 2,060 Sqft ∙ Built 2018
    LEASED 04/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,699
    • $0.82
    •  
  • 13328 Banner Court Lane Huntersville, NC 5
    • 4 beds 2 baths ∙ 2,244 Sqft ∙ Built 2008 4 beds 2 baths ∙ 2,244 Sqft ∙ Built 2008
    LEASED 04/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.85
    •  
PROPERTY LISTING DETAILS
Earl Riddle
1.704.202.1584
Rowan Realty Ltd.
BESbswy