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16108 Red Buckeye Lane #184 Adriana Huntersville, NC 28078

3 Beds 3 Baths 1,680 sqft Built 2020

$293,744

List Price

$1,590

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $174.85
  • 2 Days on Market
  • MLS # : 3699386
  • Updated Date : 01/16/2021 at 16:07
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,680 sqft
  • Baths : 2 full , 1 half
Listing Agent

Mattamy Carolina Corporation

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

Neighborhood: Huntersville

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $118k318k

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

Neighborhood: Huntersville

NeighborhoodNIR 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
 

$264,370$323,118$293,744

PURCHASE PRICE

$1,431$1,749$1,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,590
EXPENSES Loan Payment -$1,020
Property Tax -$235
Property Insurance -$59
HOA -$215
Property Management Fees -$119
CASH FLOW
-$58

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.

$293,744

PROJECTED PRICE

$1,590

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 5.4%
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$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,842

INVESTMENT

$79,842

Down Payment
$73,436
Rehab Estimate
$2,000
Closing Costs
$4,406

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,020

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $73,436
Loan Amount $220,308
See What Happens When You Reinvest Cash Flow

4.17

YEARS SAVED

$11,520

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,590

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,588

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,425
1$1,4252$1,5903$1,5954$1,6505$1,850
$1,850
RENT COMPS ANALYSIS
  • 16108 Red Buckeye Lane Huntersville, NC 2
    • 3 beds 3 baths ∙ 1,680 Sqft ∙ Built 2020 3 beds 3 baths ∙ 1,680 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,590
    • $0.95
    •  
  • 14044 Garden District Row Huntersville, NC 1
    • 3 beds 3 baths ∙ 1,632 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,632 Sqft ∙ Built 2003
    property image
    LEASED 06/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $0.87
    •  
  • 108 Virginia Avenue Huntersville, NC 3
    • 3 beds 2 baths ∙ 1,687 Sqft ∙ Built 1969 3 beds 2 baths ∙ 1,687 Sqft ∙ Built 1969
    property image
    LEASED 08/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.95
    •  
  • 10237 Halston Circle Huntersville, NC 4
    • 3 beds 3 baths ∙ 1,700 Sqft ∙ Built 2017 3 beds 3 baths ∙ 1,700 Sqft ∙ Built 2017
    property image
    LEASED 11/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.97
    •  
  • 13118 Heath Grove Drive Huntersville, NC 5
    • 3 beds 3 baths ∙ 1,864 Sqft ∙ Built 2011 3 beds 3 baths ∙ 1,864 Sqft ∙ Built 2011
    property image
    LEASED 10/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.99
    •  
PROPERTY LISTING DETAILS
Hallie Whelan
1.703.470.0010
Mattamy Carolina Corporation
BESbswy