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193 Hidden Lakes Road Statesville, NC 28677

4 Beds 3 Baths 2,069 sqft Built 2017

$269,900

List Price

$1,490

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $130.45
  • 4 Days on Market
  • MLS # : 3719982
  • Updated Date : 03/20/2021 at 13:39
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,069 sqft
  • Baths : 2 full , 1 half
Listing Agent

Southern Homes Of The Carolinas

Listing Agent's Description

4 bedroom move in ready home in Hidden Lakes subdivision! This well maintained home offers an open floor plan with large kitchen open to dining and great room. large master bedroom suite with double vanity sink and a great sized walk-in closet! The outside features a flat lot with a recently added new fenced in back yard. Perfect for kids or pets! Home offers plenty of space with an office/play room on the main. Retreat and socialize at the community pool. Welcome Home !

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 28677

ZipNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200kPrice in $59k213k

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

Zip Code: 28677

ZipNIR Market*CityMarket2010Year20002019 Q270075080085090095010001050110011501200125013001350Rent in $6771375

* 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
Celeste Henkel Elementary School Primary Regular 584 38 4
West Iredell Middle School Middle Regular 716 42 5
West Iredell High School High Regular 918 56 4

Celeste Henkel Elementary School

  • Education Level: Primary
  • # of students: 584
  • # of teachers: 38
4
GreatSchools Rating

West Iredell Middle School

  • Education Level: Middle
  • # of students: 716
  • # of teachers: 42
5
GreatSchools Rating

West Iredell High School

  • Education Level: High
  • # of students: 918
  • # of teachers: 56
4
GreatSchools Rating
 

$242,910$296,890$269,900

PURCHASE PRICE

$1,341$1,639$1,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,490
EXPENSES Loan Payment -$937
Property Tax -$238
Property Insurance -$66
HOA -$28
Property Management Fees -$119
CASH FLOW
$101

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.

$269,900

PROJECTED PRICE

$1,490

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 4.2%
Maintenance Year (1-5) 8.00%
Vacancy 6.02%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$77,274

INVESTMENT

$77,274

Down Payment
$67,475
Rehab Estimate
$5,750
Closing Costs
$4,049

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$937

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $67,475
Loan Amount $202,425
See What Happens When You Reinvest Cash Flow

7.08

YEARS SAVED

$22,906

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,490

    LIST RENT
  • $0.72

    LIST RENT PER SQFT
  • $1,578

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$1,299
1$1,2992$1,3253$1,4904$1,6505$1,750
$1,750
RENT COMPS ANALYSIS
  • 193 Hidden Lakes Road Statesville, NC 3
    • 4 beds 3 baths ∙ 2,069 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,069 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $1,490
    • $0.72
    •  
  • 112 Water Ski Drive Statesville, NC 1
    • 3 beds 3 baths ∙ 1,739 Sqft ∙ Built 2015 3 beds 3 baths ∙ 1,739 Sqft ∙ Built 2015
    LEASED 03/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,299
    • $0.75
    •  
  • 131 Quail Springs Road Statesville, NC 2
    • 4 beds 3 baths ∙ 2,060 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,060 Sqft ∙ Built 2015
    LEASED 11/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,325
    • $0.64
    •  
  • 151 Hidden Lakes Road Statesville, NC 4
    • 3 beds 3 baths ∙ 2,150 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,150 Sqft ∙ Built 2018
    LEASED 11/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.77
    •  
  • 170 Hidden Lakes Road Statesville, NC 5
    • 3 beds 3 baths ∙ 2,069 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,069 Sqft ∙ Built 2018
    LEASED 03/18/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.85
    •  
PROPERTY LISTING DETAILS
Tricia Murphy
1.704.658.5450
Southern Homes Of The Carolinas
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3719982
Last Updated: 03/20/2021
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