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14410 Colonial Park Drive Huntersville, NC 28078

5 Beds 4 Baths 3,412 sqft Built 2011

$415,000

List Price

$2,210

$2K - $2.4K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2011
  • Price/Sqft : $121.63
  • 3 Days on Market
  • MLS # : 3705605
  • Updated Date : 02/06/2021 at 14:38
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,412 sqft
  • Baths : 3 full , 1 half
Listing Agent

Realty One Group Select

Listing Agent's Description

If you have been looking for a house with amazing layout, this is it. Spacious and bright 5 bedroom house located in one of the best communities in the Huntersville area. Large main floor Master with garden tub and large walk-in closet, plus a second Master (used now as a fantastic man cave/bonus), plus 3 guest bedrooms and a very large playroom/loft upstairs, dedicated office, dining room and and a large open concept area connecting the kitchen, living room and dining area. And to make it even better? A huge outdoor patio that is perfect for entertaining.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Huntersville

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $118k318k

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

Neighborhood: Huntersville

NeighborhoodNIR 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
 

$373,500$456,500$415,000

PURCHASE PRICE

$1,989$2,431$2,210

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,210
EXPENSES Loan Payment -$1,441
Property Tax -$341
Property Insurance -$91
HOA -$58
Property Management Fees -$119
CASH FLOW
$159

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$415,000

PROJECTED PRICE

$2,210

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 5.4%
Maintenance Year (1-5) 8.00%
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$1.4M

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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$115,725

INVESTMENT

$115,725

Down Payment
$103,750
Rehab Estimate
$5,750
Closing Costs
$6,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,441

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $103,750
Loan Amount $311,250
See What Happens When You Reinvest Cash Flow

7.5

YEARS SAVED

$39,487

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,210

    LIST RENT
  • $0.65

    LIST RENT PER SQFT
  • $2,320

    COMP ESTIMATED VALUE
  • $0.68

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,2003$2,2104$2,2505$2,295
$2,295
RENT COMPS ANALYSIS
  • 14410 Colonial Park Drive Huntersville, NC 3
    • 5 beds 4 baths ∙ 3,412 Sqft ∙ Built 2011 5 beds 4 baths ∙ 3,412 Sqft ∙ Built 2011
    • Rent
    • Rent Per SQFT
    •  
    • $2,210
    • $0.65
    •  
  • 12926 Union Square Drive Huntersville, NC 1
    • 4 beds 4 baths ∙ 3,378 Sqft ∙ Built 2009 4 beds 4 baths ∙ 3,378 Sqft ∙ Built 2009
    LEASED 05/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.65
    •  
  • 223 Quail Crossing Huntersville, NC 2
    • 5 beds 4 baths ∙ 3,146 Sqft ∙ Built 2011 5 beds 4 baths ∙ 3,146 Sqft ∙ Built 2011
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.70
    •  
  • 10830 Drake Hill Drive Huntersville, NC 4
    • 5 beds 3 baths ∙ 3,200 Sqft ∙ Built 2010 5 beds 3 baths ∙ 3,200 Sqft ∙ Built 2010
    LEASED 01/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.70
    •  
  • 11522 Warfield Avenue Huntersville, NC 5
    • 5 beds 4 baths ∙ 3,408 Sqft ∙ Built 2013 5 beds 4 baths ∙ 3,408 Sqft ∙ Built 2013
    LEASED 02/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.67
    •  
PROPERTY LISTING DETAILS
Claudia Ogrizek
1.704.995.1300
Realty One Group Select
BESbswy