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512 N Hill Street Dallas, NC 28034

3 Beds 3 Baths 1,484 sqft Built 2020

$199,000

List Price

$1,230

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
Built 2020 NEW CONSTRUCTION
November 16, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $134.10
  • 7 Days on Market
  • MLS # : 3679818
  • Updated Date : 11/17/2020 at 09:48
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,484 sqft
  • Baths : 2 full , 1 half
Listing Agent

Allen Tate Steele Creek

Listing Agent's Description

Welcome to this Beautiful Brand New Construction Home in Dallas under 200K! Home features an Open Floor Plan with a Desirable Master on Main Level. Vinyl Plank Flooring through-out First Floor. Solid Surface Counters, Designer Cabinets and Stainless Steel Appliances make a perfect statement to the Home's crisp clean lines and modern appeal. 2nd Level provides 2 additional bedrooms with a Full Bathroom. Enjoy the Cozy Front Porch overlooking a beautiful level spacious yard. Only minutes to Downtown Dallas and quick access to interstates. Only 25 minutes drive to Charlotte Airport and 33 minutes drive to uptown Charlotte. Construction to start December 1st, 2020 and Completion date of April 1st, 2021. Tax Value is based on lot only.

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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: 28034

ZipNIR Market*CityMarket2010Year2000201980k90k100k110k120k130k140k150k160k170k180k190k200k210kPrice in $74k213k

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

Zip Code: 28034

ZipNIR Market*CityMarket2010Year20002019 Q27008009001000110012001300Rent in $6411375

* 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
Carr Elementary School Primary Regular 647 40 5
W.c. Friday Middle School Middle Regular 687 38 4
North Gaston High School High Regular 1,095 60 3

Carr Elementary School

  • Education Level: Primary
  • # of students: 647
  • # of teachers: 40
5
GreatSchools Rating

W.c. Friday Middle School

  • Education Level: Middle
  • # of students: 687
  • # of teachers: 38
4
GreatSchools Rating

North Gaston High School

  • Education Level: High
  • # of students: 1,095
  • # of teachers: 60
3
GreatSchools Rating
 

$179,100$218,900$199,000

PURCHASE PRICE

$1,107$1,353$1,230

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,230
EXPENSES Loan Payment -$734
Property Tax -$129
Property Insurance -$55
Property Management Fees -$111
CASH FLOW
$201

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$199,000

PROJECTED PRICE

$1,230

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 3.6%
Maintenance Year (1-5) 3.00%
Vacancy 6.02%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$54,735

INVESTMENT

$54,735

Down Payment
$49,750
Rehab Estimate
$2,000
Closing Costs
$2,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 25% down payment or higher enables the proceeds from the asset to cover all costs.

$734

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $49,750
Loan Amount $149,250
See What Happens When You Reinvest Cash Flow

10.25

YEARS SAVED

$36,664

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,230

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,239

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,230
1$1,2302$1,3003$1,495
$1,495
RENT COMPS ANALYSIS
  • 512 N Hill Street Dallas, NC 1
    • 3 beds 3 baths ∙ 1,484 Sqft ∙ Built 2020 3 beds 3 baths ∙ 1,484 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,230
    • $0.83
    •  
  • 1712 Aldershot Court Dallas, NC 2
    • 3 beds 2 baths ∙ 1,582 Sqft ∙ Built 2012 3 beds 2 baths ∙ 1,582 Sqft ∙ Built 2012
    property image
    LEASED 09/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.82
    •  
  • 5004 Sam Rhyne Court Dallas, NC 3
    • 4 beds 3 baths ∙ 1,752 Sqft ∙ Built 2007 4 beds 3 baths ∙ 1,752 Sqft ∙ Built 2007
    property image
    LEASED 09/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.85
    •  
PROPERTY LISTING DETAILS
Melissa Baker
1.704.877.6364
Allen Tate Steele Creek
BESbswy