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144 Antelope Drive Mount Holly, NC 28120

3 Beds 2 Baths 1,450 sqft Built 1996

$250,000

List Price

$1,330

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 06, 2021 RECENTLY ADDED
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

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: 28120

ZipNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200k210kPrice in $90k213k

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

Zip Code: 28120

ZipNIR Market*CityMarket2010Year20002019 Q285090095010001050110011501200125013001350Rent in $8231397

* 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
Rankin Elementary School Primary Regular 659 34 6
Mount Holly Middle School Middle Regular 771 41 7
Stuart W. Cramer High School High Unknown NA

Rankin Elementary School

  • Education Level: Primary
  • # of students: 659
  • # of teachers: 34
6
GreatSchools Rating

Mount Holly Middle School

  • Education Level: Middle
  • # of students: 771
  • # of teachers: 41
7
GreatSchools Rating

Stuart W. Cramer High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$225,000$275,000$250,000

PURCHASE PRICE

$1,197$1,463$1,330

RENT

DOWN PAYMENT
FINANCING

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

ASSUMPTIONS

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
11530$0.0$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$72,000

INVESTMENT

$72,000

Down Payment
$62,500
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$868

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $62,500
Loan Amount $187,500
See What Happens When You Reinvest Cash Flow

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
$1,150
1$1,1502$1,2953$1,3304$1,3755$1,435
$1,435
RENT COMPS ANALYSIS
  • 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
Lawrence Mahool
1.704.277.1493
Helen Adams Realty
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3715346
Last Updated: 03/06/2021
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