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2017 Hollyhedge Lane Indian Trail, NC 28079

4 Beds 3 Baths 2,553 sqft Built 2003

$339,900

List Price

$1,730

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $133.14
  • 4 Days on Market
  • MLS # : 3688276
  • Updated Date : 12/05/2020 at 15:54
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,553 sqft
  • Baths : 2 full , 1 half
Listing Agent

Stephen Cooley Real Estate Group

Listing Agent's Description

This home offers lots of square footage and rooms to grow into. The 2 story foyer welcomes you into the home that offers a large formal dining room and a great room with a fireplace/gas logs. Both rooms connect to the spacious kitchen where you will find many cabinets and lots of counter space for food prep. There is a large sun room that provides a bright and cheery spot to relax. Master suite is located on that main level with secondary bedrooms upstairs. Outdoor space offers a large deck, fenced back yard and a covered front porch. There is a whole house sound system and water filtration system. Main heating source is a heat pump but does have gas backup. Some plantation shutters. Amazing neighborhood amenities.

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

Neighborhood: Brandon Oaks

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $118k318k

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

Neighborhood: Brandon Oaks

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
Sun Valley Elementary School Primary Regular 695 45 9
Sun Valley Middle School Middle Regular 1,365 69 6
Sun Valley High School High Regular 1,306 76 7

Sun Valley Elementary School

  • Education Level: Primary
  • # of students: 695
  • # of teachers: 45
9
GreatSchools Rating

Sun Valley Middle School

  • Education Level: Middle
  • # of students: 1,365
  • # of teachers: 69
6
GreatSchools Rating

Sun Valley High School

  • Education Level: High
  • # of students: 1,306
  • # of teachers: 76
7
GreatSchools Rating
 

$305,910$373,890$339,900

PURCHASE PRICE

$1,557$1,903$1,730

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,730
EXPENSES Loan Payment -$1,254
Property Tax -$222
Property Insurance -$75
HOA -$45
Property Management Fees -$119
CASH FLOW
$15

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.

$339,900

PROJECTED PRICE

$1,730

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 6.2%
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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$95,824

INVESTMENT

$95,824

Down Payment
$84,975
Rehab Estimate
$5,750
Closing Costs
$5,099

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,254

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $84,975
Loan Amount $254,925
See What Happens When You Reinvest Cash Flow

6.08

YEARS SAVED

$27,421

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,730

    LIST RENT
  • $0.68

    LIST RENT PER SQFT
  • $1,704

    COMP ESTIMATED VALUE
  • $0.67

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,6503$1,7254$1,7305$1,850
$1,850
RENT COMPS ANALYSIS
  • 2017 Hollyhedge Lane Indian Trail, NC 4
    • 4 beds 3 baths ∙ 2,553 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,553 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,730
    • $0.68
    •  
  • 1018 Fountainbrook Drive Indian Trail, NC 1
    • 3 beds 3 baths ∙ 2,372 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,372 Sqft ∙ Built 2006
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.63
    •  
  • 14002 Fenwick Drive Indian Trail, NC 2
    • 3 beds 3 baths ∙ 2,360 Sqft ∙ Built 2001 3 beds 3 baths ∙ 2,360 Sqft ∙ Built 2001
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.70
    •  
  • 5002 Breeze Lane Indian Trail, NC 3
    • 3 beds 3 baths ∙ 2,638 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,638 Sqft ∙ Built 2005
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.65
    •  
  • 6501 Afterglow Drive Indian Trail, NC 5
    • 5 beds 3 baths ∙ 2,689 Sqft ∙ Built 1999 5 beds 3 baths ∙ 2,689 Sqft ∙ Built 1999
    LEASED 08/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.69
    •  
PROPERTY LISTING DETAILS
Stephen Cooley
1.803.985.1240
Stephen Cooley Real Estate Group
BESbswy