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14329 Hugh Dixon Way # 68 Huntersville, NC 28078

3 Beds 3 Baths 2,540 sqft Built 2020

INVESTimate

$371,238

List Price

$2,130

$1,917 - $2,343

Rent Est.

$389,466  ( +4.91%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
August 23, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $146.16
  • 4 Days on Market
  • MLS # : 3654084
  • Updated Date : 08/23/2020 at 15:28
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,540 sqft
  • Baths : 3 full
Listing Agent

Lennar Sales Corp

Listing Agent's Description

Beautiful Cambridge Floor Plan! 3 Bedrooms, 3 FULL Baths + Study !!!!!!!!! Ready in Late December!! Owner's Suite, 2nd Bedroom and Study all on the main level with the third bedroom and 3rd full bathroom upstairs PLUS a Bonus room! Beautiful Gourmet kitchen with White Cabinets, Double Wall Ovens and a 5 Burner Gas Cooktop. Large island with extra cabinet storage and space for counter seating. Granite counter tops in the kitchen as well as all 3 full baths. Come enjoy 1st floor living on a 68 foot wide home site!!

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

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
 

$334,114$408,362$371,238

PURCHASE PRICE

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

RENT

DOWN PAYMENT
FINANCING

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$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,130
EXPENSES Loan Payment -$1,370
Property Tax -$297
Property Insurance -$75
HOA -$70
Property Management Fees -$192
CASH FLOW
$126

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.

$371,238

PROJECTED PRICE

$2,130

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 4.91%
Maintenance Year (1-5) 3.00%
Vacancy 6.31%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$100,378

INVESTMENT

$100,378

Down Payment
$92,810
Rehab Estimate
$2,000
Closing Costs
$5,569

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,370

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $92,810
Loan Amount $278,429
See What Happens When You Reinvest Cash Flow

6.58

YEARS SAVED

$35,227

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
  • $0.84

    LIST RENT PER SQFT
  • $2,146

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$2,0753$2,1304$2,1955$2,295
$2,295
RENT COMPS ANALYSIS
  • 14329 Hugh Dixon Way Huntersville, NC 3
    • 3 beds 3 baths ∙ 2,540 Sqft ∙ Built 2020 3 beds 3 baths ∙ 2,540 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,130
    • $0.84
    •  
  • 15315 Venezia Lane Huntersville, NC 1
    • 3 beds 3 baths ∙ 2,397 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,397 Sqft ∙ Built 2018
    property image
    LEASED 03/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.83
    •  
  • 14312 Little Pine Drive Huntersville, NC 2
    • 4 beds 3 baths ∙ 2,762 Sqft ∙ Built 4 beds 3 baths ∙ 2,762 Sqft ∙ Built
    property image
    LEASED 11/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,075
    • $0.75
    •  
  • 12723 Heritage Vista Drive Huntersville, NC 4
    • 4 beds 3 baths ∙ 2,564 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,564 Sqft ∙ Built 2017
    property image
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.86
    •  
  • 13334 Blanton Drive Huntersville, NC 5
    • 3 beds 3 baths ∙ 2,429 Sqft ∙ Built 2019 3 beds 3 baths ∙ 2,429 Sqft ∙ Built 2019
    property image
    LEASED 12/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.94
    •  
PROPERTY LISTING DETAILS
Sharon Souder
1.704.560.5842
Lennar Sales Corp
BESbswy