Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

24 E Holly Street Maiden, NC 28650

2 Beds 1 Baths 790 sqft Built 1960

$144,000

List Price

$880

$792 - $968

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
SINGLE-FAMILY
July 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1960
  • Price/Sqft : $182.28
  • 1 Days on Market
  • MLS # : CAR3761717
  • Updated Date : 07/13/2021 at 04:06
CONSTRUCTION
  • Beds : 2
  • Floor Size : 790 sqft
  • Baths : 1 full
Listing Agent

Exp Realty Llc

Listing Agent's Description

Comfortable cottage home nestled on .49 acres of land. This is perfect for a first time home buyer or an investor. It has a low maintenance metal roof, 2 nice size bedrooms and 1 bath. This charming home has plenty of land to play on and is a must see in beautiful Maiden, NC.

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: 28650

ZipNIR Market*CityMarket2010Year2000201960k70k80k90k100k110k120k130k140k150kPrice in $54k156k

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

Zip Code: 28650

No Data Available.

* 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
Maiden Middle School Middle Regular 489 28 5
Maiden High School High Regular 877 53 5

Maiden Middle School

  • Education Level: Middle
  • # of students: 489
  • # of teachers: 28
5
GreatSchools Rating

Maiden High School

  • Education Level: High
  • # of students: 877
  • # of teachers: 53
5
GreatSchools Rating
 

$129,600$158,400$144,000

PURCHASE PRICE

$792$968$880

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $880
EXPENSES Loan Payment -$500
Property Tax -$66
Property Insurance -$41
Property Management Fees -$119
CASH FLOW
$153

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.

$144,000

PROJECTED PRICE

$880

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 7.0%
Maintenance Year (1-5) 8.00%
Vacancy 6.00%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$43,910

INVESTMENT

$43,910

Down Payment
$36,000
Rehab Estimate
$5,750
Closing Costs
$2,160

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$500

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $36,000
Loan Amount $108,000
See What Happens When You Reinvest Cash Flow

10.5

YEARS SAVED

$22,273

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $880

    LIST RENT
  • $1.11

    LIST RENT PER SQFT
  • $837

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$880
1$8802$1,100
$1,100
RENT COMPS ANALYSIS
  • 24 E Holly Street Maiden, NC 1
    • 2 beds 1 baths ∙ 790 Sqft ∙ Built 1960 2 beds 1 baths ∙ 790 Sqft ∙ Built 1960
    • Rent
    • Rent Per SQFT
    •  
    • $880
    • $1.11
    •  
  • 4552 Maiden Hwy None #2 Maiden, NC 2
    • 2 beds 2 baths ∙ 990 Sqft ∙ Built 2019 2 beds 2 baths ∙ 990 Sqft ∙ Built 2019
    LEASED 09/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $1.11
    •  
PROPERTY LISTING DETAILS
Jamiyo Aaron
1.704.222.1770
Exp Realty Llc
BESbswy