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PROPERTY INFO
FACTS
- Single Family
- Built In 2008
- Price/Sqft : $152.86
- 3 Days on Market
- MLS # : 3705556
- Updated Date : 02/05/2021 at 08:44
CONSTRUCTION
- Beds : 3
- Floor Size : 2,289 sqft
- Baths : 2 full , 1 half
Listing Agent
Team Scholz Properties Unlimit
Listing Agent's Description
WHEN ONLY THE BEST WILL DO! Meticulously maintained home in sought after Gilead Ridge! Enjoy the Carolina weather all year round on the spacious Southern style front porch! Awesome floorplan thoughtfully designed. Main floor offers oversized family room open to the spacious kitchen and breakfast room. Kitchen has 42 inch raised panel maple cabinets, granite countertops & beautiful tile backsplash; so much counter and cabinet space! Huge formal dining room. Large mud room/laundry room just off the garage! Plus a large home office! Upstairs you will find 2 spacious secondary bedrooms both with great closet space. Spacious Master retreat with walk-in closet and ensuite bath with dual vanities, garden tub and separate shower. Neutral paint throughout! Location does not get any better! Incredible community with pool and clubhouse! Close to schools, shopping, restaurants, Lake Norman, easy access to I-77... the list goes on and on!
SEE MORE
- 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: Gilead Ridge
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Gilead Ridge
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,680 |
| EXPENSES | Loan Payment | -$1,215 |
| Property Tax | -$281 | |
| Property Insurance | -$70 | |
| HOA | -$61 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
-$67
|
||
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.
$349,900
PROJECTED PRICE
$1,680
PROJECTED RENT
0.48%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.48% |
| Appreciation Year (1-5) | 5.5% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.31% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$98,474
LOAN DETAILS
$1,215
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $87,475 |
| Loan Amount | $262,425 |
4.5
YEARS SAVED
$15,604
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,680
LIST RENT -
$0.73
LIST RENT PER SQFT
-
$1,866
COMP ESTIMATED VALUE -
$0.82
COMP AVG. RENT PER SQFT
Comps Range
-
15629 Troubadour Lane Huntersville, NC 1
- 3 beds 3 baths ∙ 2,289 Sqft ∙ Built 2008 3 beds 3 baths ∙ 2,289 Sqft ∙ Built 2008
- Rent
- Rent Per SQFT
- $1,680
- $0.73
-
16943 Hugh Torance Parkway Huntersville, NC 2
- 4 beds 3 baths ∙ 2,348 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,348 Sqft ∙ Built 2006
LEASED 04/03/20- Rent
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- $1,795
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6611 Olmsford Drive Huntersville, NC 3
- 4 beds 3 baths ∙ 2,310 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,310 Sqft ∙ Built 2005
LEASED 02/22/20- Rent
- Rent Per SQFT
- $1,800
- $0.78
-
15519 Troubadour Lane Huntersville, NC 4
- 4 beds 3 baths ∙ 2,169 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,169 Sqft ∙ Built 2007
LEASED 02/25/20- Rent
- Rent Per SQFT
- $1,825
- $0.84
-
8722 Oakham Street Huntersville, NC 5
- 4 beds 3 baths ∙ 2,268 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,268 Sqft ∙ Built 1994
LEASED 03/04/20- Rent
- Rent Per SQFT
- $2,000
- $0.88
PROPERTY LISTING DETAILS
1.704.201.4845
Team Scholz Properties Unlimit
