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6404 Myston Lane Huntersville, NC 28078

5 Beds 4 Baths 3,545 sqft Built 2013

$488,000

List Price

$2,400

$2.2K - $2.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2013
  • Price/Sqft : $137.66
  • 4 Days on Market
  • MLS # : 3711727
  • Updated Date : 02/25/2021 at 12:43
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,545 sqft
  • Baths : 4 full
Listing Agent

Berkshire Hathaway Homeservices Carolinas Realty

Listing Agent's Description

Welcome to this 5BR, 4BA Home in Beckett, Office with French Doors and built in bookshelf, formal dining with coffered ceiling, great room opens to a gourmet kitchen with a large island and breakfast area, gas fireplace, guest suite on main, nice master suite with sitting area, bonus room, screened porch, fenced yard, 3 car garage.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Huntersville

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $118k318k

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

Neighborhood: Huntersville

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8441809

* 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
Barnette Elementary School Primary Unknown NA
Francis Bradley Middle School Middle Regular 1,140 59 6
Hopewell High School High Regular 1,653 87 3

Barnette Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Francis Bradley Middle School

  • Education Level: Middle
  • # of students: 1,140
  • # of teachers: 59
6
GreatSchools Rating

Hopewell High School

  • Education Level: High
  • # of students: 1,653
  • # of teachers: 87
3
GreatSchools Rating
 

$439,200$536,800$488,000

PURCHASE PRICE

$2,160$2,640$2,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,400
EXPENSES Loan Payment -$1,695
Property Tax -$420
Property Insurance -$94
HOA -$75
Property Management Fees -$119
CASH FLOW
-$3

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.

$488,000

PROJECTED PRICE

$2,400

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$135,070

INVESTMENT

$135,070

Down Payment
$122,000
Rehab Estimate
$5,750
Closing Costs
$7,320

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,695

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $122,000
Loan Amount $366,000
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$28,379

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,400

    LIST RENT
  • $0.68

    LIST RENT PER SQFT
  • $2,375

    COMP ESTIMATED VALUE
  • $0.67

    COMP AVG. RENT PER SQFT
Comps Range
$2,150
1$2,1502$2,1503$2,1754$2,4005$2,500
$2,500
RENT COMPS ANALYSIS
  • 6404 Myston Lane Huntersville, NC 4
    • 5 beds 4 baths ∙ 3,545 Sqft ∙ Built 2013 5 beds 4 baths ∙ 3,545 Sqft ∙ Built 2013
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.68
    •  
  • 10730 Charmont Place Huntersville, NC 1
    • 5 beds 4 baths ∙ 3,252 Sqft ∙ Built 2016 5 beds 4 baths ∙ 3,252 Sqft ∙ Built 2016
    property image
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.66
    •  
  • 9115 Rayneridge Drive Huntersville, NC 2
    • 4 beds 4 baths ∙ 3,495 Sqft ∙ Built 2011 4 beds 4 baths ∙ 3,495 Sqft ∙ Built 2011
    property image
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.62
    •  
  • 14415 Lyon Hill Lane Huntersville, NC 3
    • 5 beds 3 baths ∙ 3,222 Sqft ∙ Built 2004 5 beds 3 baths ∙ 3,222 Sqft ∙ Built 2004
    property image
    LEASED 06/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,175
    • $0.68
    •  
  • 8112 Bramfield Drive Huntersville, NC 5
    • 5 beds 3 baths ∙ 3,509 Sqft ∙ Built 2013 5 beds 3 baths ∙ 3,509 Sqft ∙ Built 2013
    property image
    LEASED 02/16/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.71
    •  
PROPERTY LISTING DETAILS
Anita Hallman
1.704.591.0534
Berkshire Hathaway Homeservices Carolinas Realty
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3711727
Last Updated: 02/25/2021
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