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15200 Yarmouth Road Mint Hill, NC 28227

3 Beds 3 Baths 2,065 sqft Built 1994

$335,000

List Price

$1,740

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $162.23
  • 12 Days on Market
  • MLS # : 3697381
  • Updated Date : 02/26/2021 at 12:12
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,065 sqft
  • Baths : 2 full , 1 half
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Oh so close to the new Stevens Creek Nature Preserve! This beautiful, well maintained house is in a fabulous location! Master down, laminate flooring downstairs with newer carpet upstairs, your clients can move right in. Updated Owners Suite downstairs, darling updated kitchen, volume ceiling in the great room, light and bright bedrooms upstairs, so charming! The fenced backyard is ah-mazing with an extra large, freshly stained deck and a fire pit that begs for s'mores. Watch the deer roam and play yet be close to shopping and restaurants. Furnace 2017 and 2020, roof 2014!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Mint Hill

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $113k291k

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

Neighborhood: Mint Hill

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8421713

* 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
Bain Elementary School Primary Regular 899 49 10
Mint Hill Middle School Middle Regular 1,249 64 5
Independence High School High Regular 2,349 128 6

Bain Elementary School

  • Education Level: Primary
  • # of students: 899
  • # of teachers: 49
10
GreatSchools Rating

Mint Hill Middle School

  • Education Level: Middle
  • # of students: 1,249
  • # of teachers: 64
5
GreatSchools Rating

Independence High School

  • Education Level: High
  • # of students: 2,349
  • # of teachers: 128
6
GreatSchools Rating
 

$301,500$368,500$335,000

PURCHASE PRICE

$1,566$1,914$1,740

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,740
EXPENSES Loan Payment -$1,164
Property Tax -$251
Property Insurance -$66
HOA -$5
Property Management Fees -$119
CASH FLOW
$135

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$335,000

PROJECTED PRICE

$1,740

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 5.2%
Maintenance Year (1-5) 8.00%
Vacancy 6.57%
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$0.0$5.0k$10k$15k

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$94,525

INVESTMENT

$94,525

Down Payment
$83,750
Rehab Estimate
$5,750
Closing Costs
$5,025

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,164

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $83,750
Loan Amount $251,250
See What Happens When You Reinvest Cash Flow

7.33

YEARS SAVED

$29,995

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,740

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,874

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6953$1,7404$1,7505$2,200
$2,200
RENT COMPS ANALYSIS
  • 15200 Yarmouth Road Mint Hill, NC 3
    • 3 beds 3 baths ∙ 2,065 Sqft ∙ Built 1994 3 beds 3 baths ∙ 2,065 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $1,740
    • $0.84
    •  
  • 14900 Rothwell Drive Mint Hill, NC 1
    • 4 beds 3 baths ∙ 1,820 Sqft ∙ Built 1988 4 beds 3 baths ∙ 1,820 Sqft ∙ Built 1988
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.91
    •  
  • 8006 Glamorgan Lane Matthews, NC 2
    • 4 beds 3 baths ∙ 2,000 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,000 Sqft ∙ Built 1997
    LEASED 05/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.85
    •  
  • 3620 Wild Rose Court Matthews, NC 4
    • 3 beds 3 baths ∙ 1,963 Sqft ∙ Built 1994 3 beds 3 baths ∙ 1,963 Sqft ∙ Built 1994
    LEASED 02/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.89
    •  
  • 14236 Maple Hollow Lane Mint Hill, NC 5
    • 3 beds 4 baths ∙ 2,290 Sqft ∙ Built 1985 3 beds 4 baths ∙ 2,290 Sqft ∙ Built 1985
    LEASED 04/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.96
    •  
PROPERTY LISTING DETAILS
Susie Verrill
1.704.207.9207
Coldwell Banker Realty
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3697381
Last Updated: 02/26/2021
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