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4375 Hickory Hollow Road Gastonia, NC 28056

3 Beds 3 Baths 1,755 sqft Built 1991

INVESTimate

$236,000

List Price

$1,390

$1,251 - $1,529

Rent Est.

$246,903  ( +4.62%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 1991
  • Price/Sqft : $134.47
  • 5 Days on Market
  • MLS # : 3653730
  • Updated Date : 08/22/2020 at 13:09
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,755 sqft
  • Baths : 2 full , 1 half
Listing Agent

South Realty Llc

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

Zip Code: 28056

ZipNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200k210kPrice in $81k213k

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

Zip Code: 28056

ZipNIR Market*CityMarket2010Year20002019 Q270080090010001100120013001400Rent in $6901460

* 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
Gardner Park Elementary School Primary Regular 668 36 5
Cramerton Middle School Middle Regular 833 42 8
Forestview High School High Regular 1,143 63 7

Gardner Park Elementary School

  • Education Level: Primary
  • # of students: 668
  • # of teachers: 36
5
GreatSchools Rating

Cramerton Middle School

  • Education Level: Middle
  • # of students: 833
  • # of teachers: 42
8
GreatSchools Rating

Forestview High School

  • Education Level: High
  • # of students: 1,143
  • # of teachers: 63
7
GreatSchools Rating
 

$212,400$259,600$236,000

PURCHASE PRICE

$1,251$1,529$1,390

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530$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$100k$200k$300k$400k$500k$600k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,390
EXPENSES Loan Payment -$871
Property Tax -$196
Property Insurance -$60
Property Management Fees -$125
CASH FLOW
$138

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$236,000

PROJECTED PRICE

$1,390

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 4.62%
Maintenance Year (1-5) 8.00%
Vacancy 6.57%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$68,290

INVESTMENT

$68,290

Down Payment
$59,000
Rehab Estimate
$5,750
Closing Costs
$3,540

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$871

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $59,000
Loan Amount $177,000
See What Happens When You Reinvest Cash Flow

7.25

YEARS SAVED

$24,874

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,390

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $1,400

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,390
1$1,3902$1,3993$1,4494$1,4955$1,550
$1,550
RENT COMPS ANALYSIS
  • 4375 Hickory Hollow Road Gastonia, NC 1
    • 3 beds 3 baths ∙ 1,755 Sqft ∙ Built 1991 3 beds 3 baths ∙ 1,755 Sqft ∙ Built 1991
    • Rent
    • Rent Per SQFT
    •  
    • $1,390
    • $0.79
    •  
  • 1048 Willow Wind Drive Gastonia, NC 2
    • 3 beds 3 baths ∙ 1,734 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,734 Sqft ∙ Built 2007
    LEASED 04/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,399
    • $0.81
    •  
  • 1720 Hollybrook Avenue Gastonia, NC 3
    • 3 beds 3 baths ∙ 1,783 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,783 Sqft ∙ Built 2006
    LEASED 03/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,449
    • $0.81
    •  
  • 3857 Streamside Drive Gastonia, NC 4
    • 4 beds 3 baths ∙ 2,002 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,002 Sqft ∙ Built 2017
    LEASED 06/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.75
    •  
  • 4586 Huntington Drive Gastonia, NC 5
    • 3 beds 3 baths ∙ 1,892 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,892 Sqft ∙ Built 1989
    LEASED 01/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.82
    •  
PROPERTY LISTING DETAILS
Melanie Nichols
1.704.685.4104
South Realty Llc
BESbswy