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218 Dutchman Drive Mount Holly, NC 28120

3 Beds 2 Baths 1,632 sqft Built 1982

$255,000

List Price

$1,270

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1982
  • Price/Sqft : $156.25
  • 2 Days on Market
  • MLS # : 3689905
  • Updated Date : 12/12/2020 at 13:38
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,632 sqft
  • Baths : 2 full
Listing Agent

Hilderbran & Steele Realty Llc

Listing Agent's Description

This property is being sold as is. Some renovations have been started but not complete. This gives the new owner the opportunity to make updates to suit their own needs or tear down and build their dream home on this beautiful 4.86 acre lot. This property has trails to 81 feet of footage on Dutchman Creek. A great spot for the outdoors man or lady to hike, go 4-wheeling, camp out by the creek, bird watch or look for deer. It is all there waiting for your memories to begin. The adjoining lot is also for sale featuring approx. 228 creek frontage to add to this parcels 81 feet of creek frontage. More photos to be added soon.

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

Zip Code: 28120

ZipNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210kPrice in $110k213k

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

Zip Code: 28120

ZipNIR Market*CityMarket2010Year20002019 Q2850900950100010501100115012001250130013501400Rent in $8231440

* 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
Kiser Elementary School Primary Regular 443 22 3
Stanley Middle School Middle Regular 485 30 7
East Gaston High School High Regular 1,122 67 5

Kiser Elementary School

  • Education Level: Primary
  • # of students: 443
  • # of teachers: 22
3
GreatSchools Rating

Stanley Middle School

  • Education Level: Middle
  • # of students: 485
  • # of teachers: 30
7
GreatSchools Rating

East Gaston High School

  • Education Level: High
  • # of students: 1,122
  • # of teachers: 67
5
GreatSchools Rating
 

$229,500$280,500$255,000

PURCHASE PRICE

$1,143$1,397$1,270

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,270
EXPENSES Loan Payment -$941
Property Tax -$146
Property Insurance -$58
Property Management Fees -$119
CASH FLOW
$6

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$255,000

PROJECTED PRICE

$1,270

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 5.1%
Maintenance Year (1-5) 8.00%
Vacancy 6.57%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$73,325

INVESTMENT

$73,325

Down Payment
$63,750
Rehab Estimate
$5,750
Closing Costs
$3,825

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$941

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $63,750
Loan Amount $191,250
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$18,334

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,270

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $1,436

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,270
$1,270
RENT COMPS ANALYSIS
  • 218 Dutchman Drive Mount Holly, NC 2
    • 3 beds 2 baths ∙ 1,632 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,632 Sqft ∙ Built 1982
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,270
    • $0.78
    •  
  • 2178 Stanley Lucia Road Mount Holly, NC 1
    • 3 beds 1 baths ∙ 1,422 Sqft ∙ Built 1940 3 beds 1 baths ∙ 1,422 Sqft ∙ Built 1940
    property image
    LEASED 07/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.88
    •  
PROPERTY LISTING DETAILS
Patricia Hilderbran
1.704.361.8791
Hilderbran & Steele Realty Llc
BESbswy