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5212 Rocky River Crossing Road Harrisburg, NC 28075

4 Beds 3 Baths 2,249 sqft Built 2021

$409,375

List Price

$1,640

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $182.03
  • 9 Days on Market
  • MLS # : 3694984
  • Updated Date : 01/02/2021 at 13:19
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,249 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Leading Edge

Listing Agent's Description

* Shelby Woods is a Brand New Subdivision in Harrisburg North Carolina * The Builder will be releasing a Very Limited Number of Large +/- 1/3 - 1/2 Acre Wooded Home Sites & More Inventory Homes Very Soon! * The Stephen is JUST ONE of our Brand New Transitional Series Ranch & Main Level Owner Suite Floor Plans Under Construction in Harrisburg * Visit Builder's Website * This Beautiful Inventory home is Loaded with Upgrades and is scheduled to be completed by 2/15/2021 * Builder has several Ranch & Main Level Owner Suite Floor Plans including Homes with Gourmet Kitchens, Open Floor Plans, 3 Car Garages, Sun Rooms, Screened-In Porches, Several Owners Suite Bath Options, Wood Burning Fireplaces, Floor Plan Customization and much more!

SEE MORE

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

Zip Code: 28075

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $118k318k

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

Zip Code: 28075

ZipNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8441834

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

SCHOOLS

 
Sorry, we do not have sufficient school data for this neighborhood.
 

$368,438$450,313$409,375

PURCHASE PRICE

$1,476$1,804$1,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,640
EXPENSES Loan Payment -$1,422
Property Tax -$277
Property Insurance -$70
Property Management Fees -$119
CASH FLOW
-$247

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.

$409,375

PROJECTED PRICE

$1,640

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 4.8%
Maintenance Year (1-5) 3.00%
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-$4.0k-$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$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$110,484

INVESTMENT

$110,484

Down Payment
$102,344
Rehab Estimate
$2,000
Closing Costs
$6,141

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,422

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $102,344
Loan Amount $307,031
See What Happens When You Reinvest Cash Flow

2.58

YEARS SAVED

$8,498

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,640

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $1,636

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6403$1,6654$1,6955$1,850
$1,850
RENT COMPS ANALYSIS
  • 5212 Rocky River Crossing Road Harrisburg, NC 2
    • 4 beds 3 baths ∙ 2,249 Sqft ∙ Built 2021 4 beds 3 baths ∙ 2,249 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $1,640
    • $0.73
    •  
  • 6053 Ironwood Court Harrisburg, NC 1
    • 4 beds 3 baths ∙ 2,201 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,201 Sqft ∙ Built 2001
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.72
    •  
  • 5940 Hickory Hollow Court Harrisburg, NC 3
    • 4 beds 3 baths ∙ 2,430 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,430 Sqft ∙ Built 2001
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,665
    • $0.69
    •  
  • 5398 Josephine Lane Concord, NC 4
    • 3 beds 3 baths ∙ 2,310 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,310 Sqft ∙ Built 2006
    LEASED 01/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.73
    •  
  • 4805 Walnut Grove Street Harrisburg, NC 5
    • 5 beds 3 baths ∙ 2,489 Sqft ∙ Built 2002 5 beds 3 baths ∙ 2,489 Sqft ∙ Built 2002
    LEASED 09/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.74
    •  
PROPERTY LISTING DETAILS
Craig Duckworth
1.704.502.3508
Re/max Leading Edge
BESbswy