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15215 Colonial Park Drive Huntersville, NC 28078

4 Beds 4 Baths 3,470 sqft Built 2015

$412,000

List Price

$2,270

$2K - $2.5K

Rent Est.

PROPERTY INFO

November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 2015
  • Price/Sqft : $118.73
  • 7 Days on Market
  • MLS # : 3678718
  • Updated Date : 11/06/2020 at 09:12
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,470 sqft
  • Baths : 3 full , 1 half
Listing Agent

Keller Williams Ballantyne Area

Listing Agent's Description

Welcome to your chance to own in the highly sought after Centennial neighborhood! This unique and open floor plan has more than enough flexible space to make your home dreams come true. The kitchen boasts a custom, oversized island, stainless steel appliances, a walk-in pantry and lots of storage! Have breakfast in the gorgeous, sun-soaked morning room and enjoy coffee on the back deck with a fenced in back yard. Upstairs, you will find the owner's suite and three additional bedrooms, all SPACIOUS. Master bathroom has double sinks, a garden tub, large tiled shower and walk in closet. This well maintained home has had only one owner. Looking for a "like new" feel but without the hassle of building? This is it! Come see for yourself!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 28078

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $118k318k

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

Zip Code: 28078

ZipNIR 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
 

$370,800$453,200$412,000

PURCHASE PRICE

$2,043$2,497$2,270

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,270
EXPENSES Loan Payment -$1,520
Property Tax -$351
Property Insurance -$92
Property Management Fees -$204
CASH FLOW
$102

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.

$412,000

PROJECTED PRICE

$2,270

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 4.9%
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

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$114,930

INVESTMENT

$114,930

Down Payment
$103,000
Rehab Estimate
$5,750
Closing Costs
$6,180

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,520

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $103,000
Loan Amount $309,000
See What Happens When You Reinvest Cash Flow

6.17

YEARS SAVED

$34,742

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,270

    LIST RENT
  • $0.65

    LIST RENT PER SQFT
  • $2,412

    COMP ESTIMATED VALUE
  • $0.7

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,2003$2,2504$2,2705$2,325
$2,325
RENT COMPS ANALYSIS
  • 15215 Colonial Park Drive Huntersville, NC 4
    • 4 beds 4 baths ∙ 3,470 Sqft ∙ Built 2015 4 beds 4 baths ∙ 3,470 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $2,270
    • $0.65
    •  
  • 12926 Union Square Drive Huntersville, NC 1
    • 4 beds 4 baths ∙ 3,378 Sqft ∙ Built 2009 4 beds 4 baths ∙ 3,378 Sqft ∙ Built 2009
    LEASED 05/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.65
    •  
  • 223 Quail Crossing Huntersville, NC 2
    • 5 beds 4 baths ∙ 3,146 Sqft ∙ Built 2011 5 beds 4 baths ∙ 3,146 Sqft ∙ Built 2011
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.70
    •  
  • 10830 Drake Hill Drive Huntersville, NC 3
    • 5 beds 3 baths ∙ 3,200 Sqft ∙ Built 2010 5 beds 3 baths ∙ 3,200 Sqft ∙ Built 2010
    LEASED 01/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.70
    •  
  • 15303 Barnsbury Drive Huntersville, NC 5
    • 4 beds 3 baths ∙ 3,195 Sqft ∙ Built 2006 4 beds 3 baths ∙ 3,195 Sqft ∙ Built 2006
    LEASED 02/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,325
    • $0.73
    •  
PROPERTY LISTING DETAILS
Maranda Tucker
1.806.685.1818
Keller Williams Ballantyne Area
BESbswy