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14722 Baytown Court Huntersville, NC 28078

4 Beds 3 Baths 2,741 sqft Built 2017

INVESTimate

$382,500

List Price

$2,090

$1,881 - $2,299

Rent Est.

$403,232  ( +5.42%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 2017
  • Price/Sqft : $139.55
  • 10 Days on Market
  • MLS # : 3652774
  • Updated Date : 08/25/2020 at 09:25
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,741 sqft
  • Baths : 2 full , 1 half
Listing Agent

Select Premium Properties Inc

Listing Agent's Description

Conveniently located in Huntersville, find your new home in Lakemont Commons! Enjoy large home sites with great distance between homes, an open park-like field area, and a community walking trail. This smoke/pet-free home features an open concept kitchen and living area, Granite countertops, Custom backsplash w/Rangehood, SS appliances, Lrg 16 ft pantry, Custom wainscoting, trim, and crown molding throughout the first floor, Plantation shutters and cordless blinds, Hardwood flooring on the main and second level! Finished 2 car garage with mud sink, Tile flooring in bathrooms and laundry room, Huge walk-in closet in master, LED lighting throughout, and ceiling fans in bedrooms. Home water filtration system. Refrigerator and TV mounts convey. Outdoor patio pavers and landscaped trees. Privacy with no neighbors behind your home. Best of all, this lovely home is MOVE-IN READY! $1,000 in closing costs with acceptable offer. Home Warranty Included.

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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

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
Barnette Elementary School Primary Unknown 640 38 NA
Francis Bradley Middle School Middle Regular 1,140 59 6
Hopewell High School High Regular 1,653 87 3

Barnette Elementary School

  • Education Level: Primary
  • # of students: 640
  • # of teachers: 38
NA
GreatSchools Rating

Francis Bradley Middle School

  • Education Level: Middle
  • # of students: 1,140
  • # of teachers: 59
6
GreatSchools Rating

Hopewell High School

  • Education Level: High
  • # of students: 1,653
  • # of teachers: 87
3
GreatSchools Rating
 

$344,250$420,750$382,500

PURCHASE PRICE

$1,881$2,299$2,090

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,090
EXPENSES Loan Payment -$1,411
Property Tax -$307
Property Insurance -$79
Property Management Fees -$188
CASH FLOW
$105

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.

$382,500

PROJECTED PRICE

$2,090

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 5.42%
Maintenance Year (1-5) 8.00%
Vacancy 6.31%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$107,113

INVESTMENT

$107,113

Down Payment
$95,625
Rehab Estimate
$5,750
Closing Costs
$5,738

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,411

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $95,625
Loan Amount $286,875
See What Happens When You Reinvest Cash Flow

6.33

YEARS SAVED

$33,633

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,090

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $2,083

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,9953$2,0904$2,1005$2,350
$2,350
RENT COMPS ANALYSIS
  • 14722 Baytown Court Huntersville, NC 3
    • 4 beds 3 baths ∙ 2,741 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,741 Sqft ∙ Built 2017
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,090
    • $0.76
    •  
  • 7042 Church Wood Lane Huntersville, NC 1
    • 4 beds 3 baths ∙ 2,556 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,556 Sqft ∙ Built 2006
    property image
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.70
    •  
  • 3934 Conner Glenn Drive Huntersville, NC 2
    • 4 beds 3 baths ∙ 2,656 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,656 Sqft ∙ Built 2004
    property image
    LEASED 02/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.75
    •  
  • 11218 Grenfell Avenue Huntersville, NC 4
    • 4 beds 3 baths ∙ 2,642 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,642 Sqft ∙ Built 2018
    property image
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.79
    •  
  • 14726 Baytown Court Huntersville, NC 5
    • 4 beds 4 baths ∙ 2,937 Sqft ∙ Built 2017 4 beds 4 baths ∙ 2,937 Sqft ∙ Built 2017
    property image
    LEASED 07/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.80
    •  
PROPERTY LISTING DETAILS
Stephanie Smith
1.910.795.1821
Select Premium Properties Inc
BESbswy