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146 Shadowbrook Road Mount Holly, NC 28120

3 Beds 3 Baths 1,501 sqft Built 1979

$255,000

List Price

$1,510

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 01, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1979
  • Price/Sqft : $169.89
  • 3 Days on Market
  • MLS # : 3694127
  • Updated Date : 01/02/2021 at 09:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,501 sqft
  • Baths : 2 full , 1 half
Listing Agent

Allen Tate Gastonia

Listing Agent's Description

You're going to love this charming well cared for 3 bed 2 bath brick ranch located in Mt Holly. This home offers a large living room opening up into nice sized dining area leading to the kitchen with plenty of counter space and cabinets. Endless possibilities abound in the basement with a large open bonus room including a bar area and half bath. You will certainly agree there is an abundance of room to really make this area into something special. Don't forget to check out the wood stove in the basement that that has been converted to gas. Finally don't forget to notice the driveway that wraps around to the backyard to the two car carport and one car garage. While you are back there take a look at the huge back yard with natural area providing for tons of privacy.

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*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210kPrice in $110k213k

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

Zip Code: 28120

ZipNIR Market*CityMarket2010Year20002019 Q2850900950100010501100115012001250130013501400Rent in $8231440

* 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
Kiser Elementary School Primary Regular 443 22 3
Stanley Middle School Middle Regular 485 30 7
East Gaston High School High Regular 1,122 67 5

Kiser Elementary School

  • Education Level: Primary
  • # of students: 443
  • # of teachers: 22
3
GreatSchools Rating

Stanley Middle School

  • Education Level: Middle
  • # of students: 485
  • # of teachers: 30
7
GreatSchools Rating

East Gaston High School

  • Education Level: High
  • # of students: 1,122
  • # of teachers: 67
5
GreatSchools Rating
 

$229,500$280,500$255,000

PURCHASE PRICE

$1,359$1,661$1,510

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,510
EXPENSES Loan Payment -$941
Property Tax -$147
Property Insurance -$55
Property Management Fees -$119
CASH FLOW
$247

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.

$255,000

PROJECTED PRICE

$1,510

PROJECTED RENT

0.59%

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$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

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$73,325

INVESTMENT

$73,325

Down Payment
$63,750
Rehab Estimate
$5,750
Closing Costs
$3,825

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$941

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $63,750
Loan Amount $191,250
See What Happens When You Reinvest Cash Flow

10.42

YEARS SAVED

$45,498

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,510

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $1,223

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,050
1$1,0502$1,4753$1,510
$1,510
RENT COMPS ANALYSIS
  • 146 Shadowbrook Road Mount Holly, NC 3
    • 3 beds 3 baths ∙ 1,501 Sqft ∙ Built 1979 3 beds 3 baths ∙ 1,501 Sqft ∙ Built 1979
    • Rent
    • Rent Per SQFT
    •  
    • $1,510
    • $1.01
    •  
  • 1806 Dallas Stanley Highway Stanley, NC 1
    • 3 beds 2 baths ∙ 1,550 Sqft ∙ Built 1940 3 beds 2 baths ∙ 1,550 Sqft ∙ Built 1940
    LEASED 12/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,050
    • $0.68
    •  
  • 400 Bennington Drive Stanley, NC 2
    • 3 beds 2 baths ∙ 1,545 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,545 Sqft ∙ Built 2003
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.95
    •  
PROPERTY LISTING DETAILS
Chad Simpson
1.980.333.5190
Allen Tate Gastonia
BESbswy