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15108 Stonegreen Lane Huntersville, NC 28078

4 Beds 3 Baths 2,857 sqft Built 1994

$410,000

List Price

$2,140

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $143.51
  • 4 Days on Market
  • MLS # : 3714923
  • Updated Date : 03/12/2021 at 12:41
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,857 sqft
  • Baths : 2 full , 1 half
Listing Agent

Exp Realty Llc

Listing Agent's Description

A must see home in highly desired Wynfield neighborhood. Prime location in Huntersville. Well maintained spacious home with open floor plan and hardwoods throughout. Remodeled kitchen with stainless steel appliances, granite counter tops, white cabinets, and island. Large owners Suite with office niche, trey ceiling and spacious walk-in closet. HVAC replaced over the past two years. Huge fenced in flat backyard with deck & patio. New in-ground irrigation system. Fire pit, children's tree house & swingset.

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

Neighborhood: Wynfield

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $118k585k

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

Neighborhood: Wynfield

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000120014001600180020002200240026002800Rent in $8442955

* 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
Torrence Creek Elementary School Primary Regular 483 28 8
Francis Bradley Middle School Middle Regular 1,140 59 6
Hopewell High School High Regular 1,653 87 3

Torrence Creek Elementary School

  • Education Level: Primary
  • # of students: 483
  • # of teachers: 28
8
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
 

$369,000$451,000$410,000

PURCHASE PRICE

$1,926$2,354$2,140

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,140
EXPENSES Loan Payment -$1,424
Property Tax -$329
Property Insurance -$81
HOA -$68
Property Management Fees -$119
CASH FLOW
$118

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.

$410,000

PROJECTED PRICE

$2,140

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 4.0%
Maintenance Year (1-5) 8.00%
Vacancy 6.36%
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$114,400

INVESTMENT

$114,400

Down Payment
$102,500
Rehab Estimate
$5,750
Closing Costs
$6,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,424

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $102,500
Loan Amount $307,500
See What Happens When You Reinvest Cash Flow

7.42

YEARS SAVED

$37,547

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,140

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $2,157

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$2,1403$2,1454$2,1955$2,300
$2,300
RENT COMPS ANALYSIS
  • 15108 Stonegreen Lane Huntersville, NC 2
    • 4 beds 3 baths ∙ 2,857 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,857 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $2,140
    • $0.75
    •  
  • 13606 Delstone Drive Huntersville, NC 1
    • 5 beds 3 baths ∙ 2,911 Sqft ∙ Built 2008 5 beds 3 baths ∙ 2,911 Sqft ∙ Built 2008
    LEASED 11/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.69
    •  
  • 14412 Lyon Hill Lane Huntersville, NC 3
    • 5 beds 3 baths ∙ 2,962 Sqft ∙ Built 2005 5 beds 3 baths ∙ 2,962 Sqft ∙ Built 2005
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,145
    • $0.72
    •  
  • 8934 Lizzie Lane Huntersville, NC 4
    • 4 beds 3 baths ∙ 2,698 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,698 Sqft ∙ Built 1996
    LEASED 07/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.81
    •  
  • 9033 Pennyhill Drive Huntersville, NC 5
    • 4 beds 3 baths ∙ 2,860 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,860 Sqft ∙ Built 1989
    LEASED 06/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.80
    •  
PROPERTY LISTING DETAILS
Shelley Johnson
1.704.609.8077
Exp Realty Llc
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3714923
Last Updated: 03/12/2021
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