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14502 Holly Springs Drive Huntersville, NC 28078

3 Beds 3 Baths 1,859 sqft Built 2006

$339,900

List Price

$1,680

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $182.84
  • 4 Days on Market
  • MLS # : 3707975
  • Updated Date : 02/13/2021 at 15:41
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,859 sqft
  • Baths : 2 full , 1 half
Listing Agent

Savvy + Co Real Estate

Listing Agent's Description

Double porch beauty that overlooks the community pocket park, you have amazing views from both porches! Over $50K spent in the kitchen remodel and new flooring downstairs. Kitchen was taken down to the studs and replaced with beautiful quartz counters and finishes. Enjoy your rocking chair front porches and the Charleston style charm that this lovely community has to offer. Monteith Park is minutes from Birkdale Village, highway access, shops, restaurants and 30 minutes from Uptown Charlotte. Welcome Home!

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

Neighborhood: Monteith Park

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $118k318k

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

Neighborhood: Monteith Park

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
Huntersville Elementary School Primary Regular 729 42 8
Bailey Middle School Middle Regular 1,616 77 9
William Amos Hough High School High Regular 2,453 120 8

Huntersville Elementary School

  • Education Level: Primary
  • # of students: 729
  • # of teachers: 42
8
GreatSchools Rating

Bailey Middle School

  • Education Level: Middle
  • # of students: 1,616
  • # of teachers: 77
9
GreatSchools Rating

William Amos Hough High School

  • Education Level: High
  • # of students: 2,453
  • # of teachers: 120
8
GreatSchools Rating
 

$305,910$373,890$339,900

PURCHASE PRICE

$1,512$1,848$1,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,680
EXPENSES Loan Payment -$1,181
Property Tax -$273
Property Insurance -$62
HOA -$65
Property Management Fees -$119
CASH FLOW
-$20

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.

$339,900

PROJECTED PRICE

$1,680

PROJECTED RENT

0.49%

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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$95,824

INVESTMENT

$95,824

Down Payment
$84,975
Rehab Estimate
$5,750
Closing Costs
$5,099

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,181

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $84,975
Loan Amount $254,925
See What Happens When You Reinvest Cash Flow

5.33

YEARS SAVED

$18,769

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,680

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,682

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,525
1$1,5252$1,5953$1,6504$1,6805$1,750
$1,750
RENT COMPS ANALYSIS
  • 14502 Holly Springs Drive Huntersville, NC 4
    • 3 beds 3 baths ∙ 1,859 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,859 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $0.90
    •  
  • 15246 Eric Kyle Drive Huntersville, NC 1
    • 3 beds 3 baths ∙ 1,735 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,735 Sqft ∙ Built 2000
    LEASED 05/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.88
    •  
  • 16527 Spruell Street Huntersville, NC 2
    • 3 beds 3 baths ∙ 1,860 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,860 Sqft ∙ Built 2004
    LEASED 03/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.86
    •  
  • 14627 Laura Michelle Road Huntersville, NC 3
    • 3 beds 3 baths ∙ 1,801 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,801 Sqft ∙ Built 1999
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.92
    •  
  • 9712 Parcell Street Huntersville, NC 5
    • 3 beds 3 baths ∙ 1,796 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,796 Sqft ∙ Built 2002
    LEASED 05/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.97
    •  
PROPERTY LISTING DETAILS
Alyssa Roccanti
1.704.654.9305
Savvy + Co Real Estate
BESbswy