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16607 Spruell Street 
Huntersville, NC
28078
4 Beds 3 Baths 1,948 sqft
Built 2004
INVESTimate
$290,000
List Price
$82,600
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PROPERTY INFO
FACTS
- Built In 2004
- Price/Sqft : $148.87
- 2 Days on Market
- MLS # : 3655272
- Updated Date : 08/25/2020 at 16:20
CONSTRUCTION
- Beds : 4
- Floor Size : 1,948 sqft
- Baths : 2 full , 1 half
Listing Agent
Better Homes And Gardens Real Estate Paracle
Listing Agent's Description
RARE FIND! Four bedroom home in Monteith Park with Master on Main for under $300k! This may be the last time you see a deal like this! Stacked stone front porch greets you as you enter this Charleston-style beauty. Bright and sunny, full of modern updates and charm! Brand new lighting and plumbing hardware throughout! Kitchen has faux quartz counters, white cabinets and stainless appliances! Beautiful hardwood floors in main living areas. Full-size laundry room on main level. Master bedroom is spacious and tucked back in a private hallway away from the main living space. Master bath has dual sinks and updated finishes! Upstairs features three additional bedrooms and a full bath! Outside is an entertainer's DREAM! Loads of custom deck area with plenty of room for grilling and summer parties! Monteith Park is loaded with amazing amenities: sidewalks, beautiful clubhouse with an amazing pool and playground! Fun social events are planned year-round, such a great place to call home!
SEE MORE
- 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: Monteith Park
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Monteith Park
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,700 |
| EXPENSES | Loan Payment | -$1,070 |
| Property Tax | -$261 | |
| Property Insurance | -$64 | |
| HOA | -$64 | |
| Property Management Fees | -$153 | |
|
CASH FLOW
$89
|
||
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.
$290,000
PROJECTED PRICE
$1,700
PROJECTED RENT
0.59%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.48% |
| Appreciation Year (1-5) | 5.39% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.31% |
| Length of Stay Years | 2 |
TOTAL CASH OUT OF POCKET
INVESTMENT
$82,600
LOAN DETAILS
$1,070
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $72,500 |
| Loan Amount | $217,500 |
6.17
YEARS SAVED
$24,530
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,700
LIST RENT -
$0.87
LIST RENT PER SQFT
-
$1,748
COMP ESTIMATED VALUE -
$0.9
COMP AVG. RENT PER SQFT
Comps Range
-
16607 Spruell Street Huntersville, NC 3
- 4 beds 3 baths ∙ 1,948 Sqft ∙ Built 2004 4 beds 3 baths ∙ 1,948 Sqft ∙ Built 2004
- Rent
- Rent Per SQFT
- $1,700
- $0.87
-
9716 Parcell Street Huntersville, NC 1
- 3 beds 3 baths ∙ 1,900 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,900 Sqft ∙ Built 2002
LEASED 11/14/19- Rent
- Rent Per SQFT
- $1,595
- $0.84
-
16527 Spruell Street Huntersville, NC 2
- 3 beds 3 baths ∙ 1,860 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,860 Sqft ∙ Built 2004
LEASED 03/24/20- Rent
- Rent Per SQFT
- $1,595
- $0.86
-
9712 Parcell Street Huntersville, NC 4
- 3 beds 3 baths ∙ 1,796 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,796 Sqft ∙ Built 2002
LEASED 05/09/20- Rent
- Rent Per SQFT
- $1,750
- $0.97
-
14152 Holly Springs Drive Huntersville, NC 5
- 4 beds 3 baths ∙ 1,942 Sqft ∙ Built 2011 4 beds 3 baths ∙ 1,942 Sqft ∙ Built 2011
LEASED 06/25/20- Rent
- Rent Per SQFT
- $1,800
- $0.93
PROPERTY LISTING DETAILS
1.803.225.4320
Better Homes And Gardens Real Estate Paracle
