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14211 Asbury Park Road #64 Huntersville, NC 28078

4 Beds 3 Baths 2,762 sqft Built 2020

$403,678

List Price

$2,130

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $146.15
  • 2 Days on Market
  • MLS # : 3689044
  • Updated Date : 12/05/2020 at 16:59
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,762 sqft
  • Baths : 3 full
Listing Agent

Lennar Sales Corp

Listing Agent's Description

Spacious Dorchester has 4 bedrooms and 3 full baths. You will love the amazing Gourmet Kitchen with a large island, double ovens, gas cooktop and White Cabinets! Granite Countertops in Kitchen and all 3 baths! Separate formal Dining Room, Large Owners Suite on main level with adjacent retreat area. Large tiled shower with built in seat. 68 feet wide home site in final phase of community! Last Dorchester, don't miss out!

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
 

$363,310$444,046$403,678

PURCHASE PRICE

$1,917$2,343$2,130

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,130
EXPENSES Loan Payment -$1,489
Property Tax -$323
Property Insurance -$79
HOA -$70
Property Management Fees -$119
CASH FLOW
$49

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.

$403,678

PROJECTED PRICE

$2,130

PROJECTED RENT

0.53%

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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$108,975

INVESTMENT

$108,975

Down Payment
$100,920
Rehab Estimate
$2,000
Closing Costs
$6,055

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,489

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $100,920
Loan Amount $302,759
See What Happens When You Reinvest Cash Flow

6.33

YEARS SAVED

$34,749

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,130

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $2,113

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,0453$2,1304$2,1455$2,200
$2,200
RENT COMPS ANALYSIS
  • 14211 Asbury Park Road Huntersville, NC 3
    • 4 beds 3 baths ∙ 2,762 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,762 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,130
    • $0.77
    •  
  • 15207 Colonial Park Drive Huntersville, NC 1
    • 4 beds 3 baths ∙ 2,807 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,807 Sqft ∙ Built 2015
    property image
    LEASED 08/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.71
    •  
  • 12803 Regent Grove Lane Huntersville, NC 2
    • 4 beds 3 baths ∙ 2,893 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,893 Sqft ∙ Built 2005
    property image
    LEASED 03/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,045
    • $0.71
    •  
  • 13305 Banner Court Lane Huntersville, NC 4
    • 4 beds 3 baths ∙ 2,818 Sqft ∙ Built 2009 4 beds 3 baths ∙ 2,818 Sqft ∙ Built 2009
    property image
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,145
    • $0.76
    •  
  • 10515 Blackstone Drive Huntersville, NC 5
    • 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
    •  
PROPERTY LISTING DETAILS
Sharon Souder
1.704.560.5842
Lennar Sales Corp
BESbswy