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14604 Holly Springs Drive Huntersville, NC 28078

3 Beds 3 Baths 1,862 sqft Built 2005

$317,500

List Price

$1,690

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

January 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $170.52
  • 5 Days on Market
  • MLS # : 3694209
  • Updated Date : 01/09/2021 at 09:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,862 sqft
  • Baths : 2 full , 1 half
Listing Agent

Southern Homes Of The Carolinas

Listing Agent's Description

Upgrades galore (35K total) in this Monteith Park beauty! New in 2019: Interior paint; carpet & padding. New in 2020: HVAC system; exterior paint (Sherwin Williams); SS Kitchen appliances and 60/40 SS deep bowl sink; travertine tile backsplash in Kitchen; newly painted cabinets with new crown molding, light rail & hardware in Kitchen; Powder Room remodel with new vanity, commode, wainscoting & paint; shiplap wall at fireplace; main level flooring; main level light fixtures & ceiling fans; Master BR flooring; upper hall flooring; all window blinds. Home is move-in ready! Nine ft. ceilings throughout, crown moldings on main, granite counters in Kitchen, Master BR features large walk-in closet; Master BA has dual vanity, separate tile shower stall, garden tub and tile floor; large secondary bedrooms; private back patio for entertaining. Community features pool, clubhouse, playground, walking trails, parks, sidewalks & street lights. Home warranty included! Owner is NC broker.

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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: 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
 

$285,750$349,250$317,500

PURCHASE PRICE

$1,521$1,859$1,690

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,690
EXPENSES Loan Payment -$1,103
Property Tax -$260
Property Insurance -$62
HOA -$64
Property Management Fees -$119
CASH FLOW
$82

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.

$317,500

PROJECTED PRICE

$1,690

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

PROJECTED ANNUAL CASH FLOW

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

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$89,888

INVESTMENT

$89,888

Down Payment
$79,375
Rehab Estimate
$5,750
Closing Costs
$4,763

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,103

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $79,375
Loan Amount $238,125
See What Happens When You Reinvest Cash Flow

7

YEARS SAVED

$26,455

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,690

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,708

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,545
1$1,5452$1,5953$1,6904$1,7505$1,800
$1,800
RENT COMPS ANALYSIS
  • 14604 Holly Springs Drive Huntersville, NC 3
    • 3 beds 3 baths ∙ 1,862 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,862 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $0.91
    •  
  • 16300 Amber Field Drive Huntersville, NC 1
    • 4 beds 3 baths ∙ 1,671 Sqft ∙ Built 1994 4 beds 3 baths ∙ 1,671 Sqft ∙ Built 1994
    LEASED 01/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,545
    • $0.92
    •  
  • 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
    •  
  • 9712 Parcell Street Huntersville, NC 4
    • 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
    •  
  • 14152 Holly Springs Drive Huntersville, NC 5
    • 4 beds 3 baths ∙ 1,942 Sqft ∙ Built 2011 4 beds 3 baths ∙ 1,942 Sqft ∙ Built 2011
    LEASED 06/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.93
    •  
PROPERTY LISTING DETAILS
Renee Muse
1.704.682.9761
Southern Homes Of The Carolinas
BESbswy