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14140 Holly Springs Drive Huntersville, NC 28078

4 Beds 3 Baths 2,228 sqft Built 2010

$335,000

List Price

$1,850

$1.7K - $2K

Rent Est.

PROPERTY INFO

November 08, 2020 RECENTLY ADDED
FACTS
  • Built In 2010
  • Price/Sqft : $150.36
  • 3 Days on Market
  • MLS # : 3679944
  • Updated Date : 11/08/2020 at 00:05
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,228 sqft
  • Baths : 2 full , 1 half
Listing Agent

Allen Tate Huntersville

Listing Agent's Description

PERFECT FOR SITTING ON YOUR PORCH AND ENJOYING LIFE! Well maintained 4-bedroom, 2.5 bath Charleston style home has all that you need. Enjoy view of park like common areas, relaxing on your front porch, on the balcony off the master bedroom or off the side porch – ALL 3 are covered and are perfect for any season of the year! Home freshly painted light gray within the last year. Bedrooms are upstairs, along with the laundry room which is excellent when taking your clothes from your room to the washer. New carpet on the stairs and upstairs and new luxury vinyl plank in both upstairs bathrooms. Open floor plan on the main level that displays the beautiful faux wood floors. Large kitchen set up for those who love to cook, equipped with a gas stove and plenty of storage in the stunning espresso cabinets. Enjoy the “cubbie”, placed right off the garage, made to hold coats, bags, shoes, decorations for the house, etc. Master bedroom closet has custom shelving and Master bath has a garden tub.

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Monteith Park

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $118k318k

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

Neighborhood: Monteith Park

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
 

$301,500$368,500$335,000

PURCHASE PRICE

$1,665$2,035$1,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,850
EXPENSES Loan Payment -$1,236
Property Tax -$283
Property Insurance -$69
HOA -$87
Property Management Fees -$167
CASH FLOW
$9

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.

$335,000

PROJECTED PRICE

$1,850

PROJECTED RENT

0.55%

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-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$94,525

INVESTMENT

$94,525

Down Payment
$83,750
Rehab Estimate
$5,750
Closing Costs
$5,025

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,236

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $83,750
Loan Amount $251,250
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$19,371

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,850

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,916

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,8503$1,9004$1,9005$2,100
$2,100
RENT COMPS ANALYSIS
  • 14140 Holly Springs Drive Huntersville, NC 2
    • 4 beds 3 baths ∙ 2,228 Sqft ∙ Built 2010 4 beds 3 baths ∙ 2,228 Sqft ∙ Built 2010
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.83
    •  
  • 15825 Taviston Street Huntersville, NC 1
    • 4 beds 3 baths ∙ 2,191 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,191 Sqft ∙ Built 2003
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.82
    •  
  • 14156 Holly Springs Drive Huntersville, NC 3
    • 3 beds 3 baths ∙ 2,169 Sqft ∙ Built 2010 3 beds 3 baths ∙ 2,169 Sqft ∙ Built 2010
    LEASED 08/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.88
    •  
  • 10304 Friarsgate Road Huntersville, NC 4
    • 4 beds 3 baths ∙ 2,337 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,337 Sqft ∙ Built 1998
    LEASED 03/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.81
    •  
  • 14623 Holly Springs Drive Huntersville, NC 5
    • 4 beds 4 baths ∙ 2,401 Sqft ∙ Built 2006 4 beds 4 baths ∙ 2,401 Sqft ∙ Built 2006
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.87
    •  
PROPERTY LISTING DETAILS
Roger Mcdaniel
1.540.293.9410
Allen Tate Huntersville
BESbswy