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15242 Marymont Avenue #325 Huntersville, NC 28078

3 Beds 3 Baths 2,430 sqft Built 2021

$429,005

List Price

$2,170

$2K - $2.4K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $176.55
  • 2 Days on Market
  • MLS # : 3697106
  • Updated Date : 01/09/2021 at 13:11
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,430 sqft
  • Baths : 3 full
Listing Agent

Pulte Home Corporation

Listing Agent's Description

Popular Dunwoody Way floor plan with gourmet kitchen, Large Screened in Lanai, Fireplace and Tray Ceiling! Completion date July 2021. This is a to be built home, contact onsite agent for all the details

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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

Neighborhood: Vermillion

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $118k359k

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

Neighborhood: Vermillion

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800190020002100Rent in $8442195

* 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
 

$386,105$471,906$429,005

PURCHASE PRICE

$1,953$2,387$2,170

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,170
EXPENSES Loan Payment -$1,490
Property Tax -$343
Property Insurance -$73
Property Management Fees -$119
CASH FLOW
$145

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$429,005

PROJECTED PRICE

$2,170

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 4.7%
Maintenance Year (1-5) 3.00%
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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$115,686

INVESTMENT

$115,686

Down Payment
$107,251
Rehab Estimate
$2,000
Closing Costs
$6,435

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,490

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $107,251
Loan Amount $321,754
See What Happens When You Reinvest Cash Flow

7.58

YEARS SAVED

$42,468

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,170

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $2,181

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$2,1003$2,1704$2,2005$2,400
$2,400
RENT COMPS ANALYSIS
  • 15242 Marymont Avenue Huntersville, NC 3
    • 3 beds 3 baths ∙ 2,430 Sqft ∙ Built 2021 3 beds 3 baths ∙ 2,430 Sqft ∙ Built 2021
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,170
    • $0.89
    •  
  • 13326 Blanton Drive Huntersville, NC 1
    • 3 beds 3 baths ∙ 2,118 Sqft ∙ Built 2019 3 beds 3 baths ∙ 2,118 Sqft ∙ Built 2019
    property image
    LEASED 01/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.85
    •  
  • 12620 Es Draper Drive Huntersville, NC 2
    • 4 beds 3 baths ∙ 2,246 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,246 Sqft ∙ Built 2019
    property image
    LEASED 03/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.93
    •  
  • 10515 Blackstone Drive Huntersville, NC 4
    • 3 beds 3 baths ∙ 2,622 Sqft ∙ Built 2011 3 beds 3 baths ∙ 2,622 Sqft ∙ Built 2011
    property image
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.84
    •  
  • 13521 Serenity Street Huntersville, NC 5
    • 3 beds 3 baths ∙ 2,596 Sqft ∙ Built 2015 3 beds 3 baths ∙ 2,596 Sqft ∙ Built 2015
    property image
    LEASED 06/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.92
    •  
PROPERTY LISTING DETAILS
Cindy Lisiecki
1.704.497.3550
Pulte Home Corporation
BESbswy