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144 Sugar Hill Road #102 Troutman, NC 28166

4 Beds 2 Baths 2,100 sqft Built 2021

$306,500

List Price

$1,470

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 29, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $145.95
  • 3 Days on Market
  • MLS # : 3703516
  • Updated Date : 01/29/2021 at 17:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,100 sqft
  • Baths : 2 full
Listing Agent

Adams Homes Realty-nc, Inc.

Listing Agent's Description

New construction, ranch home! This quality built home will be complete in just a couple of months so act fast before it's gone. On trend open floorplan concept, wood laminate throughout living areas and formal dining room. 4th bedroom can be office or bedroom. Save even more off list price with current incentives PLUS free blinds.

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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: 28166

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $106k261k

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

Zip Code: 28166

ZipNIR Market*CityMarket2010Year20002019 Q280085090095010001050110011501200125013001350Rent in $7581375

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

SCHOOLS

 
Sorry, we do not have sufficient school data for this neighborhood.
 

$275,850$337,150$306,500

PURCHASE PRICE

$1,323$1,617$1,470

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,470
EXPENSES Loan Payment -$1,065
Property Tax -$243
Property Insurance -$67
Property Management Fees -$119
CASH FLOW
-$23

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$306,500

PROJECTED PRICE

$1,470

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 5.2%
Maintenance Year (1-5) 3.00%
Vacancy 6.57%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$83,223

INVESTMENT

$83,223

Down Payment
$76,625
Rehab Estimate
$2,000
Closing Costs
$4,598

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,065

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $76,625
Loan Amount $229,875
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$14,594

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,470

    LIST RENT
  • $0.7

    LIST RENT PER SQFT
  • $1,449

    COMP ESTIMATED VALUE
  • $0.69

    COMP AVG. RENT PER SQFT
Comps Range
$1,295
1$1,2952$1,4703$1,4854$1,625
$1,625
RENT COMPS ANALYSIS
  • 144 Sugar Hill Road Troutman, NC 2
    • 4 beds 2 baths ∙ 2,100 Sqft ∙ Built 2021 4 beds 2 baths ∙ 2,100 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $1,470
    • $0.70
    •  
  • 112 Powder Horn Road Mooresville, NC 1
    • 3 beds 2 baths ∙ 2,250 Sqft ∙ Built 1973 3 beds 2 baths ∙ 2,250 Sqft ∙ Built 1973
    LEASED 11/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.58
    •  
  • 244 Fesperman Circle Troutman, NC 3
    • 3 beds 3 baths ∙ 2,064 Sqft ∙ Built 2016 3 beds 3 baths ∙ 2,064 Sqft ∙ Built 2016
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,485
    • $0.72
    •  
  • 298 Fesperman Circle Troutman, NC 4
    • 4 beds 3 baths ∙ 2,107 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,107 Sqft ∙ Built 2015
    LEASED 05/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.77
    •  
PROPERTY LISTING DETAILS
Melinda Corns
1.704.558.4527
Adams Homes Realty-nc, Inc.
BESbswy