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323 Quail Crossing Huntersville, NC 28078

5 Beds 4 Baths 2,990 sqft Built 2011

$375,000

List Price

$2,220

$2K - $2.4K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2011
  • Price/Sqft : $125.42
  • 27 Days on Market
  • MLS # : 3687456
  • Updated Date : 01/06/2021 at 00:05
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,990 sqft
  • Baths : 3 full , 1 half
Listing Agent

Keller Williams Huntersville

Listing Agent's Description

BACK YARD PARADISE-Gorgeous Park like setting in the backyard including SCREENED IN PORCH with LUSH landscaping, large stamped concrete patio and oversized fire pit to enjoy the crisp night. A tree lined buffer for privacy as well. Home has MASTER BEDROOM DOWN with ensuite LUXURY BATH, 2 story family room, Formal Dining Room, OFFICE on 1st floor, Huge GOURMET KITCHEN with eat-in area overlooking the screened porch. Upstairs is a HUGE BONUS ROOM with a FULL BATH and 3 additional large bedrooms. Floor plan is open and filled with a ton of NATURAL LIGHT.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Huntersville

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $118k318k

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

Neighborhood: Huntersville

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
Blythe Elementary School Primary Regular 1,038 67 5
J.m. Alexander Middle School Middle Regular 865 40 4
North Mecklenburg High School High Regular 1,881 101 3

Blythe Elementary School

  • Education Level: Primary
  • # of students: 1,038
  • # of teachers: 67
5
GreatSchools Rating

J.m. Alexander Middle School

  • Education Level: Middle
  • # of students: 865
  • # of teachers: 40
4
GreatSchools Rating

North Mecklenburg High School

  • Education Level: High
  • # of students: 1,881
  • # of teachers: 101
3
GreatSchools Rating
 

$337,500$412,500$375,000

PURCHASE PRICE

$1,998$2,442$2,220

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,220
EXPENSES Loan Payment -$1,303
Property Tax -$330
Property Insurance -$83
HOA -$58
Property Management Fees -$119
CASH FLOW
$327

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.

$375,000

PROJECTED PRICE

$2,220

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 5.4%
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$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k

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$105,125

INVESTMENT

$105,125

Down Payment
$93,750
Rehab Estimate
$5,750
Closing Costs
$5,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,303

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $93,750
Loan Amount $281,250
See What Happens When You Reinvest Cash Flow

10

YEARS SAVED

$54,619

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,220

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $2,220

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,1453$2,2004$2,2205$2,350
$2,350
RENT COMPS ANALYSIS
  • 323 Quail Crossing Huntersville, NC 4
    • 5 beds 4 baths ∙ 2,990 Sqft ∙ Built 2011 5 beds 4 baths ∙ 2,990 Sqft ∙ Built 2011
    • Rent
    • Rent Per SQFT
    •  
    • $2,220
    • $0.74
    •  
  • 15207 Colonial Park Drive Huntersville, NC 1
    • 4 beds 3 baths ∙ 2,807 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,807 Sqft ∙ Built 2015
    LEASED 08/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.71
    •  
  • 13305 Banner Court Lane Huntersville, NC 2
    • 4 beds 3 baths ∙ 2,818 Sqft ∙ Built 2009 4 beds 3 baths ∙ 2,818 Sqft ∙ Built 2009
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,145
    • $0.76
    •  
  • 223 Quail Crossing Huntersville, NC 3
    • 5 beds 4 baths ∙ 3,146 Sqft ∙ Built 2011 5 beds 4 baths ∙ 3,146 Sqft ∙ Built 2011
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.70
    •  
  • 11731 Kennon Ridge Lane Huntersville, NC 5
    • 5 beds 3 baths ∙ 3,076 Sqft ∙ Built 2001 5 beds 3 baths ∙ 3,076 Sqft ∙ Built 2001
    LEASED 07/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.76
    •  
PROPERTY LISTING DETAILS
Nancy Buckstad
1.704.957.3990
Keller Williams Huntersville
BESbswy