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157 Antelope Drive Mount Holly, NC 28120

3 Beds 2 Baths 1,527 sqft Built 1993

$213,000

List Price

$1,310

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1993
  • Price/Sqft : $139.49
  • 4 Days on Market
  • MLS # : 3717243
  • Updated Date : 03/13/2021 at 08:52
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,527 sqft
  • Baths : 2 full
Listing Agent

Keller Williams South Park

Listing Agent's Description

Classic home with a great .27 acre lot. (*Multiply Offers-"Highest and Best"-Monday 12pm) Large fenced yard. The wrap around front porch invites you to sit and relax. Many updates-Windows 2020, Gutters 2020, HVAC 2018. This home is a blank slate for your design infusion on your own timetable. Don't spend money on others choices, make YOUR OWN! Showings do not start until Saturday 3/13/2021. Open House Saturday 3/13 between 11am-1pm

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

Zip Code: 28120

ZipNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210kPrice in $110k213k

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

Zip Code: 28120

ZipNIR Market*CityMarket2010Year20002019 Q2850900950100010501100115012001250130013501400Rent in $8231440

* 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
Rankin Elementary School Primary Regular 659 34 6
Mount Holly Middle School Middle Regular 771 41 7
Stuart W. Cramer High School High Regular 782 45 NA

Rankin Elementary School

  • Education Level: Primary
  • # of students: 659
  • # of teachers: 34
6
GreatSchools Rating

Mount Holly Middle School

  • Education Level: Middle
  • # of students: 771
  • # of teachers: 41
7
GreatSchools Rating

Stuart W. Cramer High School

  • Education Level: High
  • # of students: 782
  • # of teachers: 45
NA
GreatSchools Rating
 

$191,700$234,300$213,000

PURCHASE PRICE

$1,179$1,441$1,310

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,310
EXPENSES Loan Payment -$740
Property Tax -$252
Property Insurance -$56
Property Management Fees -$119
CASH FLOW
$143

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.

$213,000

PROJECTED PRICE

$1,310

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 5.1%
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$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$62,195

INVESTMENT

$62,195

Down Payment
$53,250
Rehab Estimate
$5,750
Closing Costs
$3,195

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$740

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $53,250
Loan Amount $159,750
See What Happens When You Reinvest Cash Flow

8.25

YEARS SAVED

$22,785

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,310

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,217

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,150
1$1,1502$1,2653$1,3104$1,495
$1,495
RENT COMPS ANALYSIS
  • 157 Antelope Drive Mount Holly, NC 3
    • 3 beds 2 baths ∙ 1,527 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,527 Sqft ∙ Built 1993
    • Rent
    • Rent Per SQFT
    •  
    • $1,310
    • $0.86
    •  
  • 433 Meller Street Mount Holly, NC 1
    • 3 beds 1 baths ∙ 1,402 Sqft ∙ Built 1920 3 beds 1 baths ∙ 1,402 Sqft ∙ Built 1920
    LEASED 12/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $0.82
    •  
  • 169 Antelope Drive Mount Holly, NC 2
    • 3 beds 3 baths ∙ 1,660 Sqft ∙ Built 1995 3 beds 3 baths ∙ 1,660 Sqft ∙ Built 1995
    LEASED 12/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,265
    • $0.76
    •  
  • 133 Whitby Drive Mount Holly, NC 4
    • 3 beds 2 baths ∙ 1,854 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,854 Sqft ∙ Built 2005
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.81
    •  
PROPERTY LISTING DETAILS
William Frost
1.704.813.5829
Keller Williams South Park
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3717243
Last Updated: 03/13/2021
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