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PROPERTY INFO
FACTS
- Single Family
- Built In 1956
- Price/Sqft : $168.57
- 85 Days on Market
- MLS # : 3691001
- Updated Date : 03/05/2021 at 22:47
CONSTRUCTION
- Beds : 4
- Floor Size : 2,545 sqft
- Baths : 2 full , 1 half
Listing Agent
Nexthome World Class
Listing Agent's Description
First time on the market in almost 40 years. LOCATION, LOCATION, LOCATION... 2 acres in Huntersville on Gilead rd is very RARE. This all brick ranch with a basement is ready to be transformed into your dream home. Some recent new mechanical upgrades. Home is in need of updating and renovating but being all brick with basement foundation, it's a blank canvas to turn into something amazing. NO HOA. Possibilities are endless. Keep for you very own 2 acre estate. Split it into 2 lots and sell one.
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: Huntersville
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Huntersville
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,840 |
| EXPENSES | Loan Payment | -$1,490 |
| Property Tax | -$362 | |
| Property Insurance | -$71 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
-$203
|
||
This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.
$429,000
PROJECTED PRICE
$1,840
PROJECTED RENT
0.43%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.48% |
| Appreciation Year (1-5) | 5.4% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.31% |
| 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
$119,435
LOAN DETAILS
$1,490
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $107,250 |
| Loan Amount | $321,750 |
3.25
YEARS SAVED
$11,490
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,840
LIST RENT -
$0.78
LIST RENT PER SQFT
-
$1,840
COMP ESTIMATED VALUE -
$0.78
COMP AVG. RENT PER SQFT
Comps Range
-
6301 Gilead Road Huntersville, NC 4
- 4 beds 3 baths ∙ 2,352 Sqft ∙ Built 1956 4 beds 3 baths ∙ 2,352 Sqft ∙ Built 1956
![property image]()
- Rent
- Rent Per SQFT
- $1,840
- $0.78
-
16943 Hugh Torance Parkway Huntersville, NC 1
- 4 beds 3 baths ∙ 2,348 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,348 Sqft ∙ Built 2006
![property image]()
LEASED 04/03/20- Rent
- Rent Per SQFT
- $1,795
- $0.76
-
6611 Olmsford Drive Huntersville, NC 2
- 4 beds 3 baths ∙ 2,310 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,310 Sqft ∙ Built 2005
![property image]()
LEASED 02/22/20- Rent
- Rent Per SQFT
- $1,800
- $0.78
-
15519 Troubadour Lane Huntersville, NC 3
- 4 beds 3 baths ∙ 2,169 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,169 Sqft ∙ Built 2007
![property image]()
LEASED 02/25/20- Rent
- Rent Per SQFT
- $1,825
- $0.84
-
7038 Church Wood Lane Huntersville, NC 5
- 4 beds 4 baths ∙ 2,560 Sqft ∙ Built 2006 4 beds 4 baths ∙ 2,560 Sqft ∙ Built 2006
![property image]()
LEASED 08/01/19- Rent
- Rent Per SQFT
- $1,915
- $0.75
PROPERTY LISTING DETAILS
1.704.729.7000
Nexthome World Class
MLS #: 3691001
Last Updated: 03/05/2021
