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4331 Hubbard Road Charlotte, NC 28269

4 Beds 3 Baths 2,224 sqft Built 2013

INVESTimate

$310,000

List Price

$1,670

$1,503 - $1,837

Rent Est.

$332,475  ( +7.25%)   1 YR EST. FORECAST

PROPERTY INFO

August 23, 2020 RECENTLY ADDED
FACTS
  • Built In 2013
  • Price/Sqft : $139.39
  • 5 Days on Market
  • MLS # : 3654578
  • Updated Date : 08/25/2020 at 14:42
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,224 sqft
  • Baths : 2 full , 1 half
Listing Agent

Exp Realty Llc

Listing Agent's Description

This 4 bedroom Arts & Craft home is the ONLY one available within 5 miles already built & less than 10 yrs old under $320k. Smart Features to make life a breeze include: , Nest Thermostats, Smart locks, & smart lights. The best of the best with Google Fiber in place & AT&T Fiber being installed, At&T U-Verse, and Spectrum; all located in your Smart Panel! This open floorplan is highlighted with windows that allow natural light to pour in for days & hardwood floors that span the entire downstairs area! Working or learning from home will be a breeze with the dedicated downstairs office! Stainless steele appliances accented by gleaming granite counters & storage galore. The cabinets hold a few surprises to include pull out built ins and under cabinet lighting. All carpet upstairs is less than a year old Your master suite features his & her LARGE walk in closets and atile shower with dual shower heads! The large & private fenced backyard complete with pergola and firepit!

SEE MORE

MARKET HIGHLIGHTS

  • 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)

PRICE & RENT TRENDS

Neighborhood: Rockwell Park - Hemphill Heights

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $74k235k

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

Neighborhood: Rockwell Park - Hemphill Heights

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2700800900100011001200130014001500Rent in $6771518

* 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
David Cox Road Elementary School Primary Regular 784 46 4
Ridge Road Middle School Middle Regular 1,285 65 6
Mallard Creek High School High Regular 2,472 123 6

David Cox Road Elementary School

  • Education Level: Primary
  • # of students: 784
  • # of teachers: 46
4
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
 

$279,000$341,000$310,000

PURCHASE PRICE

$1,503$1,837$1,670

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,670
EXPENSES Loan Payment -$1,144
Property Tax -$270
Property Insurance -$69
HOA -$20
Property Management Fees -$150
CASH FLOW
$17

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.

$310,000

PROJECTED PRICE

$1,670

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 7.25%
Maintenance Year (1-5) 8.00%
Vacancy 6.02%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$87,900

INVESTMENT

$87,900

Down Payment
$77,500
Rehab Estimate
$5,750
Closing Costs
$4,650

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,144

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $77,500
Loan Amount $232,500
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$16,848

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,670

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $1,696

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$1,545
1$1,5452$1,6153$1,6704$1,6955$1,770
$1,770
RENT COMPS ANALYSIS
  • 4331 Hubbard Road Charlotte, NC 3
    • 4 beds 3 baths ∙ 2,224 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,224 Sqft ∙ Built 2013
    • Rent
    • Rent Per SQFT
    •  
    • $1,670
    • $0.75
    •  
  • 3544 Betterton Lane Charlotte, NC 1
    • 4 beds 3 baths ∙ 2,030 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,030 Sqft ∙ Built 1998
    LEASED 10/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,545
    • $0.76
    •  
  • 7602 Eben Drive Charlotte, NC 2
    • 3 beds 3 baths ∙ 2,179 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,179 Sqft ∙ Built 2006
    LEASED 06/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,615
    • $0.74
    •  
  • 4401 Gladwood Lane Charlotte, NC 4
    • 4 beds 3 baths ∙ 2,190 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,190 Sqft ∙ Built 1995
    LEASED 12/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.77
    •  
  • 8005 Alba Court Charlotte, NC 5
    • 4 beds 3 baths ∙ 2,282 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,282 Sqft ∙ Built 1997
    LEASED 03/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,770
    • $0.78
    •  
PROPERTY LISTING DETAILS
Alexis Hughes
1.704.773.2117
Exp Realty Llc
BESbswy