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15051 Northgreen Drive Huntersville, NC 28078

4 Beds 4 Baths 2,334 sqft Built 2005

$394,999

List Price

$1,890

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $169.24
  • 12 Days on Market
  • MLS # : 3693577
  • Updated Date : 12/31/2020 at 00:05
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,334 sqft
  • Baths : 3 full , 1 half
Listing Agent

Paradise Realty

Listing Agent's Description

WELCOME TO A CRISP AND CLEAN HOME WITH RECENTLY COMPLETED UPGRADES THROUGHOUT. THE ENHANCEMENT ON THIS HOME INCLUDE NEW FLOORING, REMODELED BATHROOMS THAT LEAVE YOU FEELING INSPIRED WITH ALL THE ATTENTION TO DETAIL. THE METICULOUSLY WELL MAINTAINED BACKYARD ALSO INCLUDES NEWLY ADDED ENCLOSED PORCH THAT ARE SURE TO GIVE YOU A PRIVATE YET PEACE FEELING. THE MASTER SUITE HAS A PRIVATE BALCONY THAT IS IDEAL FOR RELAXING. KITCHEN HAS STAINLESS STEEL APPLIANCES AND GRANITE COUNTER TOP. THIS RESIDENCE INCLUDES 3 FULL BATH AND ONE HALF BATH IN THE MAIN FLOOR. THE BATHROOMS ARE UPGRADED WITH BEAUTIFUL CHARCOAL DETAIL. THIS 2.5 STORY HOME IS LOCATED IN THE PRIME REAL ESTATE AREA OF SKYBROOK. WITH JUST MINUTES AWAY FROM STORES, I-485 AND RESTAURANTS. THIS RESIDENT IS DESIRABLE HOME.

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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: Skybrook

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $118k410k

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

Neighborhood: Skybrook

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001200140016001800200022002400Rent in $8442520

* 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
Cox Mill Elementary School Primary Regular 1,112 61 9
Harris Road Middle School Middle Regular 1,185 63 9
Cox Mill High School High Regular 1,478 76 7

Cox Mill Elementary School

  • Education Level: Primary
  • # of students: 1,112
  • # of teachers: 61
9
GreatSchools Rating

Harris Road Middle School

  • Education Level: Middle
  • # of students: 1,185
  • # of teachers: 63
9
GreatSchools Rating

Cox Mill High School

  • Education Level: High
  • # of students: 1,478
  • # of teachers: 76
7
GreatSchools Rating
 

$355,499$434,499$394,999

PURCHASE PRICE

$1,701$2,079$1,890

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,890
EXPENSES Loan Payment -$1,457
Property Tax -$196
Property Insurance -$71
HOA -$38
Property Management Fees -$119
CASH FLOW
$9

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.

$394,999

PROJECTED PRICE

$1,890

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 3.5%
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$1.2M

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$110,425

INVESTMENT

$110,425

Down Payment
$98,750
Rehab Estimate
$5,750
Closing Costs
$5,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,457

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $98,750
Loan Amount $296,249
See What Happens When You Reinvest Cash Flow

6.17

YEARS SAVED

$32,250

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,890

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $1,961

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,8753$1,8904$1,9955$2,100
$2,100
RENT COMPS ANALYSIS
  • 15051 Northgreen Drive Huntersville, NC 3
    • 4 beds 4 baths ∙ 2,334 Sqft ∙ Built 2005 4 beds 4 baths ∙ 2,334 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,890
    • $0.81
    •  
  • 388 Sweet Shrub Court Concord, NC 1
    • 4 beds 3 baths ∙ 2,200 Sqft ∙ Built 2012 4 beds 3 baths ∙ 2,200 Sqft ∙ Built 2012
    LEASED 11/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.82
    •  
  • 10292 Shrader Street Concord, NC 2
    • 4 beds 3 baths ∙ 2,300 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,300 Sqft ∙ Built 2013
    LEASED 05/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.82
    •  
  • 1247 Bridgeford Drive Huntersville, NC 4
    • 4 beds 3 baths ∙ 2,456 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,456 Sqft ∙ Built 2008
    LEASED 03/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.81
    •  
  • 14519 Sunset Walk Lane Huntersville, NC 5
    • 4 beds 3 baths ∙ 2,310 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,310 Sqft ∙ Built 2001
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.91
    •  
PROPERTY LISTING DETAILS
David Hernandez
1.704.858.0602
Paradise Realty
BESbswy