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3931 Huntmeadow Drive Charlotte, NC 28269

3 Beds 3 Baths 1,889 sqft Built 1996

$283,000

List Price

$1,560

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $149.81
  • 7 Days on Market
  • MLS # : 3693693
  • Updated Date : 01/07/2021 at 23:03
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,889 sqft
  • Baths : 2 full , 1 half
Listing Agent

Opendoor Brokerage Llc

Listing Agent's Description

This Charlotte two-story cul-de-sac home offers a fireplace and a two-car garage. This home is vacant and cleaned regularly.

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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: Highland Creek

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $116k318k

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

Neighborhood: Highland Creek

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
Highland Creek Elementary School Primary Regular 1,105 57 7
Ridge Road Middle School Middle Regular 1,285 65 6
Mallard Creek High School High Regular 2,472 123 6

Highland Creek Elementary School

  • Education Level: Primary
  • # of students: 1,105
  • # of teachers: 57
7
GreatSchools Rating

Ridge Road Middle School

  • Education Level: Middle
  • # of students: 1,285
  • # of teachers: 65
6
GreatSchools Rating

Mallard Creek High School

  • Education Level: High
  • # of students: 2,472
  • # of teachers: 123
6
GreatSchools Rating
 

$254,700$311,300$283,000

PURCHASE PRICE

$1,404$1,716$1,560

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,560
EXPENSES Loan Payment -$983
Property Tax -$247
Property Insurance -$63
HOA -$21
Property Management Fees -$119
CASH FLOW
$128

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.

$283,000

PROJECTED PRICE

$1,560

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 5.9%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$80,745

INVESTMENT

$80,745

Down Payment
$70,750
Rehab Estimate
$5,750
Closing Costs
$4,245

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$983

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $70,750
Loan Amount $212,250
See What Happens When You Reinvest Cash Flow

7.92

YEARS SAVED

$29,001

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,560

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,554

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,545
1$1,5452$1,5603$1,5654$1,5855$1,735
$1,735
RENT COMPS ANALYSIS
  • 3931 Huntmeadow Drive Charlotte, NC 2
    • 3 beds 3 baths ∙ 1,889 Sqft ∙ Built 1996 3 beds 3 baths ∙ 1,889 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $1,560
    • $0.83
    •  
  • 6812 Pipestone Lane Charlotte, NC 1
    • 3 beds 3 baths ∙ 1,982 Sqft ∙ Built 1993 3 beds 3 baths ∙ 1,982 Sqft ∙ Built 1993
    LEASED 02/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,545
    • $0.78
    •  
  • 3408 Balsam Tree Drive Charlotte, NC 3
    • 3 beds 2 baths ∙ 1,871 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,871 Sqft ∙ Built 2001
    LEASED 01/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,565
    • $0.84
    •  
  • 6000 Beech Cove Lane Charlotte, NC 4
    • 3 beds 3 baths ∙ 1,938 Sqft ∙ Built 1992 3 beds 3 baths ∙ 1,938 Sqft ∙ Built 1992
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,585
    • $0.82
    •  
  • 6115 Downfield Wood Drive Charlotte, NC 5
    • 3 beds 3 baths ∙ 2,034 Sqft ∙ Built 1995 3 beds 3 baths ∙ 2,034 Sqft ∙ Built 1995
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,735
    • $0.85
    •  
PROPERTY LISTING DETAILS
Verria Hairston
1.704.751.0133
Opendoor Brokerage Llc
BESbswy