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467 Holly Circle Mount Holly, NC 28120

3 Beds 2 Baths 1,460 sqft Built 1995

$220,000

List Price

$1,310

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1995
  • Price/Sqft : $150.68
  • 12 Days on Market
  • MLS # : 3683724
  • Updated Date : 11/28/2020 at 08:20
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,460 sqft
  • Baths : 2 full
Listing Agent

Fathom Realty

Listing Agent's Description

Looking for a country setting, NO HOA, fenced backyard and low taxes! This home offers all that and more with a huge detached 2 car garage. Home is 10 minutes from Belmont and 20 mins to uptown charlotte. Home is being Sold AS IS.

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

Zip Code: 28120

ZipNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210kPrice in $110k213k

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

Zip Code: 28120

ZipNIR Market*CityMarket2010Year20002019 Q2850900950100010501100115012001250130013501400Rent in $8231440

* 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
Rankin Elementary School Primary Regular 659 34 6
Mount Holly Middle School Middle Regular 771 41 7
Stuart W. Cramer High School High Regular 782 45 NA

Rankin Elementary School

  • Education Level: Primary
  • # of students: 659
  • # of teachers: 34
6
GreatSchools Rating

Mount Holly Middle School

  • Education Level: Middle
  • # of students: 771
  • # of teachers: 41
7
GreatSchools Rating

Stuart W. Cramer High School

  • Education Level: High
  • # of students: 782
  • # of teachers: 45
NA
GreatSchools Rating
 

$198,000$242,000$220,000

PURCHASE PRICE

$1,179$1,441$1,310

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,310
EXPENSES Loan Payment -$812
Property Tax -$128
Property Insurance -$55
Property Management Fees -$118
CASH FLOW
$198

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.

$220,000

PROJECTED PRICE

$1,310

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 5.1%
Maintenance Year (1-5) 8.00%
Vacancy 6.57%
Length of Stay Years 2

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$64,050

INVESTMENT

$64,050

Down Payment
$55,000
Rehab Estimate
$5,750
Closing Costs
$3,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$812

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $55,000
Loan Amount $165,000
See What Happens When You Reinvest Cash Flow

9.17

YEARS SAVED

$32,779

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,310

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,310

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,000
1$1,0002$1,0453$1,1954$1,2955$1,310
$1,310
RENT COMPS ANALYSIS
  • 467 Holly Circle Mount Holly, NC 5
    • 3 beds 2 baths ∙ 1,460 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,460 Sqft ∙ Built 1995
    • Rent
    • Rent Per SQFT
    •  
    • $1,310
    • $0.90
    •  
  • 77 Belmont Avenue Belmont, NC 1
    • 3 beds 1 baths ∙ 1,131 Sqft ∙ Built 1900 3 beds 1 baths ∙ 1,131 Sqft ∙ Built 1900
    LEASED 11/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,000
    • $0.88
    •  
  • 708 Ashe Place Gastonia, NC 2
    • 4 beds 2 baths ∙ 1,150 Sqft ∙ Built 1980 4 beds 2 baths ∙ 1,150 Sqft ∙ Built 1980
    LEASED 02/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,045
    • $0.91
    •  
  • 1731 Perfection Avenue Belmont, NC 3
    • 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 1930 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 1930
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $0.92
    •  
  • 710 Westland Farm Road Mount Holly, NC 4
    • 3 beds 2 baths ∙ 1,479 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,479 Sqft ∙ Built 1973
    LEASED 08/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.88
    •  
PROPERTY LISTING DETAILS
Derek Worrell
1.704.299.0646
Fathom Realty
BESbswy