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15003 Parsons Ridge Lane Huntersville, NC 28078

4 Beds 4 Baths 3,799 sqft Built 2009

INVESTimate

$449,000

List Price

$2,480

$2,232 - $2,728

Rent Est.

$473,336  ( +5.42%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 2009
  • Price/Sqft : $118.19
  • 12 Days on Market
  • MLS # : 3649988
  • Updated Date : 08/25/2020 at 16:45
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,799 sqft
  • Baths : 3 full , 1 half
Listing Agent

J Cash Real Estate

Listing Agent's Description

Gorgeous, newly landscaped, fenced corner lot across from one of the many large parks in Centennial. Master on main. Beautiful and large screened-in porch. Only 2 blocks to the pool, playground and walking trails. Lots of amazing upgrades, new stainless-steel appliances, two new a/c units, plantation shutters throughout, sun shades on screen porch. Study on main. The 2 car garage has new shelving. Master, living rm and upstairs bonus rm all wired for flat panel TV’s with wires hidden in the wall. Two CAT6 cables can be used for ceiling mounted wireless access points, one up and one down. Centennial has strong social activities. Close to everything, Lake Norman, Birkdale, Discovery Place, shopping and restaurants. 25 mins. to the airport. Move in ready today so don’t wait for new construction, paying an extra hundred thousand+, when you could be enjoying the view of the park from your second story porch today! Owner is an agent.

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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
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
 

$404,100$493,900$449,000

PURCHASE PRICE

$2,232$2,728$2,480

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$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,480
EXPENSES Loan Payment -$1,657
Property Tax -$371
Property Insurance -$99
HOA -$50
Property Management Fees -$223
CASH FLOW
$80

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.

$449,000

PROJECTED PRICE

$2,480

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$124,735

INVESTMENT

$124,735

Down Payment
$112,250
Rehab Estimate
$5,750
Closing Costs
$6,735

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,657

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $112,250
Loan Amount $336,750
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$33,972

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,480

    LIST RENT
  • $0.65

    LIST RENT PER SQFT
  • $2,925

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$2,480
1$2,4802$2,7003$2,8004$2,900
$2,900
RENT COMPS ANALYSIS
  • 15003 Parsons Ridge Lane Huntersville, NC 1
    • 4 beds 4 baths ∙ 3,799 Sqft ∙ Built 2009 4 beds 4 baths ∙ 3,799 Sqft ∙ Built 2009
    • Rent
    • Rent Per SQFT
    •  
    • $2,480
    • $0.65
    •  
  • 14218 Holly Springs Drive Huntersville, NC 2
    • 5 beds 4 baths ∙ 3,484 Sqft ∙ Built 5 beds 4 baths ∙ 3,484 Sqft ∙ Built
    LEASED 11/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.77
    •  
  • 11212 Warfield Avenue Huntersville, NC 3
    • 4 beds 4 baths ∙ 3,688 Sqft ∙ Built 2007 4 beds 4 baths ∙ 3,688 Sqft ∙ Built 2007
    LEASED 05/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.76
    •  
  • 16123 Northstone Drive Huntersville, NC 4
    • 4 beds 3 baths ∙ 3,726 Sqft ∙ Built 2001 4 beds 3 baths ∙ 3,726 Sqft ∙ Built 2001
    LEASED 10/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $0.78
    •  
PROPERTY LISTING DETAILS
Carol Davis
1.704.699.8544
J Cash Real Estate
BESbswy