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3027 Lisburn Street Mint Hill, NC 28227

4 Beds 3 Baths 2,143 sqft Built 2020

$355,900

List Price

$1,920

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $166.08
  • 3 Days on Market
  • MLS # : 3687736
  • Updated Date : 12/04/2020 at 10:42
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,143 sqft
  • Baths : 2 full , 1 half
Listing Agent

Meritage Homes Of The Carolina

Listing Agent's Description

Brand NEW energy-efficient home ready February 2021! Relax in the Calhoun II’s spacious primary suite, complete with private bath. The kids will love the spacious game room and loft. Downstairs, the sprawling kitchen island overlooks the open-concept dining and great rooms. Mint Hill Village is conveniently located off I-485 and steps from historic downtown Mint Hill, this community is surrounded by a host of shopping, dining, and fitness facilities, all within walking distance. Known for their energy-efficient features, our homes help you live a healthier and quieter lifestyle while saving thousands of dollars on utility bills.

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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: Downtown Mint Hill

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $118k318k

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

Neighborhood: Downtown Mint Hill

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
Bain Elementary School Primary Regular 899 49 10
Mint Hill Middle School Middle Regular 1,249 64 5
Independence High School High Regular 2,349 128 6

Bain Elementary School

  • Education Level: Primary
  • # of students: 899
  • # of teachers: 49
10
GreatSchools Rating

Mint Hill Middle School

  • Education Level: Middle
  • # of students: 1,249
  • # of teachers: 64
5
GreatSchools Rating

Independence High School

  • Education Level: High
  • # of students: 2,349
  • # of teachers: 128
6
GreatSchools Rating
 

$320,310$391,490$355,900

PURCHASE PRICE

$1,728$2,112$1,920

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,920
EXPENSES Loan Payment -$1,313
Property Tax -$327
Property Insurance -$68
HOA -$70
Property Management Fees -$119
CASH FLOW
$23

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.

$355,900

PROJECTED PRICE

$1,920

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 4.7%
Maintenance Year (1-5) 3.00%
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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$96,314

INVESTMENT

$96,314

Down Payment
$88,975
Rehab Estimate
$2,000
Closing Costs
$5,339

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,313

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $88,975
Loan Amount $266,925
See What Happens When You Reinvest Cash Flow

5.92

YEARS SAVED

$27,918

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,920

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,891

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,625
1$1,6252$1,9203$1,9254$1,9755$2,125
$2,125
RENT COMPS ANALYSIS
  • 3027 Lisburn Street Mint Hill, NC 2
    • 4 beds 3 baths ∙ 2,143 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,143 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,920
    • $0.90
    •  
  • 7613 Happy Hollow Drive Mint Hill, NC 1
    • 3 beds 2 baths ∙ 1,850 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,850 Sqft ∙ Built 1956
    property image
    LEASED 07/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.88
    •  
  • 8117 Pine Hill Road Mint Hill, NC 3
    • 4 beds 3 baths ∙ 2,109 Sqft ∙ Built 4 beds 3 baths ∙ 2,109 Sqft ∙ Built
    property image
    LEASED 10/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,925
    • $0.91
    •  
  • 5838 Whitehawk Hill Road Mint Hill, NC 4
    • 4 beds 3 baths ∙ 2,480 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,480 Sqft ∙ Built 2015
    property image
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $0.80
    •  
  • 4418 Patriots Hill Road Mint Hill, NC 5
    • 3 beds 3 baths ∙ 2,261 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,261 Sqft ∙ Built 2007
    property image
    LEASED 02/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,125
    • $0.94
    •  
PROPERTY LISTING DETAILS
Jimmy Mcclurg
1.704.969.0153
Meritage Homes Of The Carolina
BESbswy