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2004 Highland Knoll Drive # 62 Charlotte, NC 28269

3 Beds 3 Baths 2,175 sqft Built 2019

INVESTimate

$328,000

List Price

$1,690

$1,521 - $1,859

Rent Est.

$347,221  ( +5.86%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2019 NEW CONSTRUCTION
August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 2019
  • Price/Sqft : $150.80
  • 6 Days on Market
  • MLS # : 3654511
  • Updated Date : 08/25/2020 at 14:34
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,175 sqft
  • Baths : 2 full , 1 half
Listing Agent

Dr Horton Inc

Listing Agent's Description

This is the Model home for sale!!! Minutes from shopping Concord Mills and even less to the interstate. This home greets you when you walk in with an open wide foyer 9ft ceilings on the first floor with a roomy Study with two French doors. This open concept plan has a gorgeous kitchen with granite counter tops, tile back splash and large island that over looks the breakfast are and family breakfast area. Upstairs you'll find 3 guest rooms and a large Master bedroom. Off of the master bedroom you'll be pleased to find a dual vanity, a large 5ft shower and a large walk in closet. Garage will be reverted to 2 car with drywall and spackle Model home is as is condition. furniture and pictures and decorations not included. Home has stone on the front exterior.

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: Highland Creek

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $116k318k

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

Neighborhood: Highland Creek

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
Parkside Elementary School Primary Regular NA
Ridge Road Middle School Middle Regular 1,285 65 6
Mallard Creek High School High Regular 2,472 123 6

Parkside Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Ridge Road Middle School

  • Education Level: Middle
  • # of students: 1,285
  • # of teachers: 65
6
GreatSchools Rating

Mallard Creek High School

  • Education Level: High
  • # of students: 2,472
  • # of teachers: 123
6
GreatSchools Rating
 

$295,200$360,800$328,000

PURCHASE PRICE

$1,521$1,859$1,690

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

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$200k$400k$600k$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,690
EXPENSES Loan Payment -$1,210
Property Tax -$301
Property Insurance -$68
HOA -$42
Property Management Fees -$152
CASH FLOW
-$83

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.

$328,000

PROJECTED PRICE

$1,690

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 5.86%
Maintenance Year (1-5) 3.00%
Vacancy 6.31%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$88,920

INVESTMENT

$88,920

Down Payment
$82,000
Rehab Estimate
$2,000
Closing Costs
$4,920

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,210

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $82,000
Loan Amount $246,000
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$11,737

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,690

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $1,713

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,545
1$1,5452$1,5983$1,6904$1,7355$1,750
$1,750
RENT COMPS ANALYSIS
  • 2004 Highland Knoll Drive Charlotte, NC 3
    • 3 beds 3 baths ∙ 2,175 Sqft ∙ Built 2019 3 beds 3 baths ∙ 2,175 Sqft ∙ Built 2019
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $0.78
    •  
  • 6812 Pipestone Lane Charlotte, NC 1
    • 3 beds 3 baths ∙ 1,982 Sqft ∙ Built 1993 3 beds 3 baths ∙ 1,982 Sqft ∙ Built 1993
    property image
    LEASED 02/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,545
    • $0.78
    •  
  • 3927 Meadow Green Drive Charlotte, NC 2
    • 4 beds 2 baths ∙ 2,110 Sqft ∙ Built 2000 4 beds 2 baths ∙ 2,110 Sqft ∙ Built 2000
    property image
    LEASED 01/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,598
    • $0.76
    •  
  • 6115 Downfield Wood Drive Charlotte, NC 4
    • 3 beds 3 baths ∙ 2,034 Sqft ∙ Built 1995 3 beds 3 baths ∙ 2,034 Sqft ∙ Built 1995
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,735
    • $0.85
    •  
  • 10015 Rocky Ford Club Road Charlotte, NC 5
    • 4 beds 3 baths ∙ 2,306 Sqft ∙ Built 2010 4 beds 3 baths ∙ 2,306 Sqft ∙ Built 2010
    property image
    LEASED 06/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.76
    •  
PROPERTY LISTING DETAILS
Corina Elliott
1.704.253.0051
Dr Horton Inc
BESbswy