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3204 Lisburn Street Mint Hill, NC 28227

3 Beds 3 Baths 1,909 sqft Built 2021

$343,900

List Price

$1,710

$1.5K - $1.9K

Rent Est.

$93,134

Investment Est.

AVAILABLE

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AVAILABLE

1 Year
(+4.7%)
1 YR. PROJ. APPRECIATION


Cap Rate	3.4%
Cash Flow	-$1,092
Value Increase	$16,084

10 YEAR

Cash On Cash	-2.1%
Total Return	9.8%

PROPERTY INFO

Built 2021 NEW CONSTRUCTION

January 22, 2021 RECENTLY ADDED

FACTS

Single Family
Built In 2021
Price/Sqft : $180.15
3 Days on Market
MLS # : 3701057
Updated Date : 01/22/2021 at 15:23

CONSTRUCTION

Beds : 3
Floor Size : 1,909 sqft
Baths : 2 full , 1 half

Listing Agent

Meritage Homes Of The Carolina

Listing Agent's Description

Brand NEW energy-efficient home ready May 2021! Welcome guests on the Brighton II's charming front porch. Inside, the open-concept main level features a spacious family room. Linen cabinets, smoky grey granite countertops, grey cool tone EVP flooring, and textured carpet in our Cool package. Mint Hill Village is conveniently located off I-485 and steps from historic downtown Mint Hill. Known for their energy-efficient features, our homes help you live a healthier and quieter lifestyle while saving thousands of dollars on utility bills.

MARKET HIGHLIGHTS

Charlotte Market Report

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)

Neighborhood: Downtown Mint Hill

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

Neighborhood: Downtown Mint Hill

* 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

GreatSchools Rating

Mint Hill Middle School

Education Level: Middle
# of students: 1,249
# of teachers: 64

GreatSchools Rating

Independence High School

Education Level: High
# of students: 2,349
# of teachers: 128

GreatSchools Rating

FINANCIALS

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$309,510$378,29000$343,900

PURCHASE PRICE

$1,539$1,88100$1,710

RENT

DOWN PAYMENT

FINANCING

OFF ON

Acquisition Concierge

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PROPERTY

Expense Inflation	%
Vacancy	%
Length of Stay
Expense Inflation	%
Vacancy	%
Length of Stay

YEAR (1-5)

Appreciation	%
Rental Growth	%
Maintenance	%

YEAR (1-5)

Appreciation	%
Rental Growth	%
Maintenance	%

YEAR (6+)

Appreciation	%
Rental Growth	%
Maintenance	%

INVESTMENT

Rehab Costs
Reinvest Cash Flow	Yes No
Interest Rate	%

INVESTMENT

Rehab Costs
Reinvest Cash Flow	Yes No
Interest Rate	%

Learn how to read this

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME	Rent	$1,710
EXPENSES	Loan Payment	-$1,195
	Property Tax	-$316
	Property Insurance	-$63
	HOA	-$108
	Property Management Fees	-$119



CASH FLOW -$91

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.

$343,900

PROJECTED PRICE

$1,710

PROJECTED RENT

0.50%

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

PROJECTED ANNUAL CASH FLOW

Tenant Turnover

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

Appreciation
Principal
Loan Balance

TOTAL CASH OUT OF POCKET

INVESTMENT

$93,134

Down Payment	$85,975
Rehab Estimate	$2,000
Closing Costs	$5,159

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,195

MONTHLY LOAN PAYMENT

30 yr

3.75%

25.00%

Down Payment

Term	30 Years
Interest	3.75%
Down Payment	$85,975
Loan Amount	$257,925

See What Happens When You Reinvest Cash Flow

4

YEARS SAVED

$12,804

INTEREST SAVED

CASH FLOW REINVESTMENT

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

$1,710
LIST RENT
$0.9
LIST RENT PER SQFT

$1,718
COMP ESTIMATED VALUE
$0.9
COMP AVG. RENT PER SQFT

Comps Range

$1,500

1$1,5002$1,7003$1,7104$1,7505$1,925

$1,925

RENT COMPS ANALYSIS

1,909
PROPERTY SQFT
$0.9
AVG RENT PER SQFT
$1,718
ESTIMATED VALUE
$1,710
LIST RENT

3204 Lisburn Street Mint Hill, NC 4

3 beds 3 baths ∙ 1,909 Sqft ∙ Built 2021 3 beds 3 baths ∙ 1,909 Sqft ∙ Built 2021
Price

Price Per SQFT

$343,900

$180.15
10504 Sussex Square Mint Hill, NC 1

3 beds 2 baths ∙ 2,001 Sqft ∙ Built 2007 3 beds 2 baths ∙ 2,001 Sqft ∙ Built 2007
SOLD 10/15/20
Price

Price Per SQFT

$305,000

$152.42
6323 Willow Branch Road Mint Hill, NC 2

3 beds 3 baths ∙ 2,203 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,203 Sqft ∙ Built 2006
SOLD 11/24/20
Price

Price Per SQFT

$315,000

$142.99
5838 Gatekeeper Lane Mint Hill, NC 3

3 beds 3 baths ∙ 1,960 Sqft ∙ Built 2014 3 beds 3 baths ∙ 1,960 Sqft ∙ Built 2014
SOLD 12/29/20
Price

Price Per SQFT

$340,000

$173.47
6017 Phyliss Lane Mint Hill, NC 5

3 beds 3 baths ∙ 2,062 Sqft ∙ Built 2020 3 beds 3 baths ∙ 2,062 Sqft ∙ Built 2020
SOLD 12/30/20
Price

Price Per SQFT

$357,055

$173.16

3204 Lisburn Street Mint Hill, NC 3

3 beds 3 baths ∙ 1,909 Sqft ∙ Built 2021 3 beds 3 baths ∙ 1,909 Sqft ∙ Built 2021
Rent

Rent Per SQFT

$1,710

$0.90
9008 Blair Road Mint Hill, NC 1

3 beds 3 baths ∙ 1,795 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,795 Sqft ∙ Built 1989
LEASED 11/03/20
Rent

Rent Per SQFT

$1,500

$0.84
8008 Truelight Church Road Mint Hill, NC 2

3 beds 2 baths ∙ 1,880 Sqft ∙ Built 1968 3 beds 2 baths ∙ 1,880 Sqft ∙ Built 1968
LEASED 04/03/20
Rent

Rent Per SQFT

$1,700

$0.90
7613 Happy Hollow Drive Mint Hill, NC 4

3 beds 2 baths ∙ 1,850 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,850 Sqft ∙ Built 1956
LEASED 12/16/20
Rent

Rent Per SQFT

$1,750

$0.95
8117 Pine Hill Road Mint Hill, NC 5

4 beds 3 baths ∙ 2,109 Sqft ∙ Built 4 beds 3 baths ∙ 2,109 Sqft ∙ Built
LEASED 12/10/20
Rent

Rent Per SQFT

$1,925

$0.91

PROPERTY LISTING DETAILS

Jimmy Mcclurg
1.704.969.0153
Meritage Homes Of The Carolina

3204 Lisburn Street Mint Hill, NC 28227

$343,900

$1,710

$93,134

REQUEST INFO

PROPERTY INFO

FACTS

CONSTRUCTION

Listing Agent

Listing Agent's Description

MARKET HIGHLIGHTS

PRICE & RENT TRENDS

SCHOOLS

Bain Elementary School

Mint Hill Middle School

Independence High School

FINANCIALS

$309,510$378,29000$343,900

$1,539$1,88100$1,710

Acquisition Concierge

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

$343,900

$1,710

0.50%

PROJECTED ACCUMULATED WEALTH

PROJECTED ANNUAL CASH FLOW

PROJECTED PROPERTY VALUE

TOTAL CASH OUT OF POCKET

INVESTMENT

LOAN DETAILS

25%

$1,195

4

$12,804

$343,900

$180.15

$306,414

$160.51

COMPS RANGE

PRICE COMPS ANALYSIS

$1,710

$0.9

$1,718

$0.9

Comps Range

RENT COMPS ANALYSIS

PROPERTY LISTING DETAILS