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17401 Carolina Hickory Drive #99 Gaines Huntersville, NC 28078

5 Beds 3 Baths 2,689 sqft Built 2020

$408,484

List Price

$2,380

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
October 28, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $151.91
  • 7 Days on Market
  • MLS # : 3674134
  • Updated Date : 10/28/2020 at 14:36
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,689 sqft
  • Baths : 3 full
Listing Agent

Mattamy Carolina Corporation

Listing Agent's Description

Beautiful New Construction – This gorgeous "Tudor" elevation Gaines home with 2,676sq. ft. features 5 bedrooms & 3 bathrooms and a large loft. Guest suite with full bathroom on 1st floor. Owner's suite on the second floor with Bath Oasis. This home features a Gourmet Kitchen with granite counter tops and SS appliance package. This home has beautiful engineered hardwoods, Gas fireplace, Covered Veranda, and sits next to the community walking trails. Come see this beautiful new community!

SEE MORE

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: 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
 

$367,636$449,332$408,484

PURCHASE PRICE

$2,142$2,618$2,380

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,380
EXPENSES Loan Payment -$1,507
Property Tax -$327
Property Insurance -$78
HOA -$50
Property Management Fees -$214
CASH FLOW
$204

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.

$408,484

PROJECTED PRICE

$2,380

PROJECTED RENT

0.58%

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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$110,248

INVESTMENT

$110,248

Down Payment
$102,121
Rehab Estimate
$2,000
Closing Costs
$6,127

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,507

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $102,121
Loan Amount $306,363
See What Happens When You Reinvest Cash Flow

7.58

YEARS SAVED

$48,612

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,380

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $2,366

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$2,025
1$2,0252$2,2003$2,2504$2,2955$2,380
$2,380
RENT COMPS ANALYSIS
  • 17401 Carolina Hickory Drive Huntersville, NC 5
    • 5 beds 3 baths ∙ 2,689 Sqft ∙ Built 2020 5 beds 3 baths ∙ 2,689 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,380
    • $0.89
    •  
  • 10011 Maywine Circle Huntersville, NC 1
    • 5 beds 3 baths ∙ 2,656 Sqft ∙ Built 2018 5 beds 3 baths ∙ 2,656 Sqft ∙ Built 2018
    property image
    LEASED 05/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,025
    • $0.76
    •  
  • 11931 Hambright Road Huntersville, NC 2
    • 5 beds 3 baths ∙ 2,433 Sqft ∙ Built 2020 5 beds 3 baths ∙ 2,433 Sqft ∙ Built 2020
    property image
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.90
    •  
  • 11918 Midnight Way Huntersville, NC 3
    • 5 beds 3 baths ∙ 2,433 Sqft ∙ Built 2020 5 beds 3 baths ∙ 2,433 Sqft ∙ Built 2020
    property image
    LEASED 05/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.92
    •  
  • 11757 Mesquite Road Huntersville, NC 4
    • 5 beds 3 baths ∙ 2,433 Sqft ∙ Built 2020 5 beds 3 baths ∙ 2,433 Sqft ∙ Built 2020
    property image
    LEASED 09/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.94
    •  
PROPERTY LISTING DETAILS
Hallie Whelan
1.703.470.0010
Mattamy Carolina Corporation
BESbswy