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PROPERTY INFO
FACTS
- Single Family
- Built In 1996
- Price/Sqft : $172.41
- 3 Days on Market
- MLS # : 3715346
- Updated Date : 03/06/2021 at 00:05
CONSTRUCTION
- Beds : 3
- Floor Size : 1,450 sqft
- Baths : 2 full
Listing Agent
Helen Adams Realty
Listing Agent's Description
Incredible opportunity to buy this one level home in the sought after Mt. Holly neighborhood of Deertrack! With a beautiful rocking chair front porch, this ranch on nearly 1/3 of an acre couldn't be more inviting. Step inside and immediately you'll notice the vaulted ceiling with the gas log fireplace and brick surround leading all the way to the ceiling. The modern dark laminate flooring offers a warm and neutral tone. Step into the kitchen where the owners have upgraded the appliances to all dark stainless including a five burner gas range w/double oven & a french door refrigerator & dishwasher that all convey to the new owner! You'll love the artistic designer paint scheme of the cabinetry & the refinished countertops! Don't miss the smart switches in the kitchen & dining rooms, updated lighting & faucets throughout the house. Step outback onto your patio & enjoy the privacy provided by your six foot privacy fence! Generous bedrooms! Need extra storage - there's a shed!
SEE MORE
- 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: 28120
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 28120
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,330 |
| EXPENSES | Loan Payment | -$868 |
| Property Tax | -$296 | |
| Property Insurance | -$54 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
-$8
|
||
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.
$250,000
PROJECTED PRICE
$1,330
PROJECTED RENT
0.53%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 2.98% |
| Appreciation Year (1-5) | 5.1% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.57% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$72,000
LOAN DETAILS
$868
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $62,500 |
| Loan Amount | $187,500 |
4.58
YEARS SAVED
$11,633
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,330
LIST RENT -
$0.92
LIST RENT PER SQFT
-
$1,222
COMP ESTIMATED VALUE -
$0.84
COMP AVG. RENT PER SQFT
Comps Range
-
144 Antelope Drive Mount Holly, NC 3
- 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 1996
![property image]()
- Rent
- Rent Per SQFT
- $1,330
- $0.92
-
433 Meller Street Mount Holly, NC 1
- 3 beds 1 baths ∙ 1,402 Sqft ∙ Built 1920 3 beds 1 baths ∙ 1,402 Sqft ∙ Built 1920
![property image]()
LEASED 12/09/20- Rent
- Rent Per SQFT
- $1,150
- $0.82
-
101 Sweetbriar Court Mount Holly, NC 2
- 3 beds 3 baths ∙ 1,505 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,505 Sqft ∙ Built 1999
![property image]()
LEASED 02/16/20- Rent
- Rent Per SQFT
- $1,295
- $0.86
-
112 Crestwood Drive Mount Holly, NC 4
- 3 beds 3 baths ∙ 1,614 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,614 Sqft ∙ Built 2002
![property image]()
LEASED 04/29/20- Rent
- Rent Per SQFT
- $1,375
- $0.85
-
109 Barrington Drive Mount Holly, NC 5
- 3 beds 3 baths ∙ 1,705 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,705 Sqft ∙ Built 2002
![property image]()
LEASED 02/28/20- Rent
- Rent Per SQFT
- $1,435
- $0.84
PROPERTY LISTING DETAILS
1.704.277.1493
Helen Adams Realty
MLS #: 3715346
Last Updated: 03/06/2021
