Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more
REQUEST INFO
SCHEDULE APPOINTMENT
It's free, with no obligation
PROPERTY INFO
FACTS
- Single Family
- Built In 2007
- Price/Sqft : $111.34
- 5 Days on Market
- MLS # : 3681666
- Updated Date : 11/14/2020 at 00:05
CONSTRUCTION
- Beds : 3
- Floor Size : 2,919 sqft
- Baths : 2 full , 1 half
Listing Agent
Trade Street Properties
Listing Agent's Description
Your buyers will love this well maintained, move-in ready home in popular Versage! The whole interior is neutral and freshly painted. The kitchen is not only upgraded with cherry cabinets, granite and an undermount sink, it also boasts a large island, an abundance of countertop space and a walk-in pantry. Downstairs living space is large enough for an office, dining room, and family room. Upstairs is a huge loft suitable for home study space, play area, and media room. The very large owners suite offers enough room for the largest of furniture, a trey ceiling and two closets. The owners bath has been upgraded with a raised double vanity and a marble slab shower with frameless glass. The secondary bedrooms are spacious as well. Outside you will find a fully fenced in back yard and covered patio. Enjoy the neighborhood pool, clubhouse and walking trails. This home is convenient to all Mint Hill has to offer. Only minutes away from I-485, restaurants, shopping and more.
SEE MORE
- 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: Versage
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Versage
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,780 |
| EXPENSES | Loan Payment | -$1,199 |
| Property Tax | -$243 | |
| Property Insurance | -$82 | |
| HOA | -$30 | |
| Property Management Fees | -$160 | |
|
CASH FLOW
$65
|
||
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.
$325,000
PROJECTED PRICE
$1,780
PROJECTED RENT
0.55%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 2.98% |
| Appreciation Year (1-5) | 6.9% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.57% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$91,875
LOAN DETAILS
$1,199
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $81,250 |
| Loan Amount | $243,750 |
5.33
YEARS SAVED
$21,817
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,780
LIST RENT -
$0.61
LIST RENT PER SQFT
-
$1,817
COMP ESTIMATED VALUE -
$0.62
COMP AVG. RENT PER SQFT
Comps Range
-
5541 Versage Drive Mint Hill, NC 2
- 3 beds 3 baths ∙ 2,919 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,919 Sqft ∙ Built 2007
- Rent
- Rent Per SQFT
- $1,780
- $0.61
-
9210 Camberwell Road Mint Hill, NC 1
- 3 beds 2 baths ∙ 2,900 Sqft ∙ Built 2007 3 beds 2 baths ∙ 2,900 Sqft ∙ Built 2007
LEASED 06/29/20- Rent
- Rent Per SQFT
- $1,700
- $0.59
-
5902 Brightstar Valley Road Mint Hill, NC 3
- 3 beds 3 baths ∙ 2,969 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,969 Sqft ∙ Built 2005
LEASED 03/20/20- Rent
- Rent Per SQFT
- $1,795
- $0.60
-
7627 Kuck Road Mint Hill, NC 4
- 4 beds 3 baths ∙ 3,030 Sqft ∙ Built 2006 4 beds 3 baths ∙ 3,030 Sqft ∙ Built 2006
LEASED 07/01/20- Rent
- Rent Per SQFT
- $1,800
- $0.59
-
11930 Jumper Drive Mint Hill, NC 5
- 4 beds 4 baths ∙ 3,239 Sqft ∙ Built 2006 4 beds 4 baths ∙ 3,239 Sqft ∙ Built 2006
LEASED 01/14/20- Rent
- Rent Per SQFT
- $2,295
- $0.71
PROPERTY LISTING DETAILS
1.704.488.7357
Trade Street Properties
