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200 Southland Road Huntersville, NC 28078

3 Beds 3 Baths 1,655 sqft Built 1990

$309,000

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

December 09, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $186.71
  • 5 Days on Market
  • MLS # : 3688273
  • Updated Date : 12/12/2020 at 12:31
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,655 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Huntersville

Listing Agent's Description

Such a rare find! Located in Shepherds Vineyard, in the heart of Huntersville minutes to I77, Birkdale Village & lots of shopping/dining options. 4-car garage, completely updated home, huge fenced corner lot & so much more! Big living rm w/built-in shelving & cabinets, opens to amazing outdoor area w/deck for grilling & big, screened-in porch (or sports den!) & extended patio- perfect for entertaining. Formal office w/built-in shelving & French doors. 3 quarter inch Rosewood hardwoods. Gorgeous updated kitchen w/built-in pantry, quartz counters, farmhouse sink, tile backsplash, rolling island, microwave/convection, wall oven & 2nd stainless steel oven! Beautiful, sunny owner's suite w/vaulted ceiling, remodeled bath w/modern double vanity, step-in shower w/glass door & built-in pantry for extra storage. Large secondary bedrms, all new carpet up & remodeled guest bath. Attached two-car & detached two-car garage. Storage shed too! Siding, windows & hvac less than 3 years old, newer roof.

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
Huntersville Elementary School Primary Regular 729 42 8
Bailey Middle School Middle Regular 1,616 77 9
William Amos Hough High School High Regular 2,453 120 8

Huntersville Elementary School

  • Education Level: Primary
  • # of students: 729
  • # of teachers: 42
8
GreatSchools Rating

Bailey Middle School

  • Education Level: Middle
  • # of students: 1,616
  • # of teachers: 77
9
GreatSchools Rating

William Amos Hough High School

  • Education Level: High
  • # of students: 2,453
  • # of teachers: 120
8
GreatSchools Rating
 

$278,100$339,900$309,000

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$1,140
Property Tax -$248
Property Insurance -$58
Property Management Fees -$119
CASH FLOW
$84

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.

$309,000

PROJECTED PRICE

$1,650

PROJECTED RENT

0.53%

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) 8.00%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$87,635

INVESTMENT

$87,635

Down Payment
$77,250
Rehab Estimate
$5,750
Closing Costs
$4,635

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,140

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $77,250
Loan Amount $231,750
See What Happens When You Reinvest Cash Flow

7.33

YEARS SAVED

$32,617

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,650

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $1,676

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,5493$1,6254$1,6505$1,675
$1,675
RENT COMPS ANALYSIS
  • 200 Southland Road Huntersville, NC 4
    • 3 beds 3 baths ∙ 1,655 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,655 Sqft ∙ Built 1990
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.00
    •  
  • 14316 Menifee Drive Huntersville, NC 1
    • 3 beds 3 baths ∙ 1,503 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,503 Sqft ∙ Built 2000
    property image
    LEASED 08/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.96
    •  
  • 315 Southland Road Huntersville, NC 2
    • 3 beds 3 baths ∙ 1,563 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,563 Sqft ∙ Built 1989
    property image
    LEASED 03/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,549
    • $0.99
    •  
  • 11123 Harbert Road Huntersville, NC 3
    • 3 beds 3 baths ∙ 1,560 Sqft ∙ Built 2012 3 beds 3 baths ∙ 1,560 Sqft ∙ Built 2012
    property image
    LEASED 04/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $1.04
    •  
  • 302 Canadice Road Huntersville, NC 5
    • 3 beds 3 baths ∙ 1,572 Sqft ∙ Built 1987 3 beds 3 baths ∙ 1,572 Sqft ∙ Built 1987
    property image
    LEASED 11/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $1.07
    •  
PROPERTY LISTING DETAILS
Justin Sciranko
1.704.807.2771
Keller Williams Huntersville
BESbswy