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7014 North Bridge Drive Huntersville, NC 28078

5 Beds 5 Baths 3,654 sqft Built 2021

$450,708

List Price

$2,300

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $123.35
  • 2 Days on Market
  • MLS # : 3699330
  • Updated Date : 01/16/2021 at 13:12
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,654 sqft
  • Baths : 4 full , 1 half
Listing Agent

Dr Horton Inc

Listing Agent's Description

NEW CONSTRUCTION Kristin plan with guest bed/bath down and covered porch!! Gourmet Kitchen with White Cabinets, Quartz Countertops, Whirlpool Appliances, Double Wall Oven, Gas Cook-top, 7.5" Wood Laminate on main level living areas, TANKLESS HOT WATER HEATER, Gas logs, heavy two piece crown trim! Granite Countertops and Tiled floors in all bathrooms! Dining Room with Coffer Ceiling, large office with French Door. Master suite with HUGE closet and luxurious bathroom. MASSIVE Rec room!!

SEE MORE

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: 28078

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $118k318k

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

Zip Code: 28078

ZipNIR 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
Blythe Elementary School Primary Regular 1,038 67 5
J.m. Alexander Middle School Middle Regular 865 40 4
North Mecklenburg High School High Regular 1,881 101 3

Blythe Elementary School

  • Education Level: Primary
  • # of students: 1,038
  • # of teachers: 67
5
GreatSchools Rating

J.m. Alexander Middle School

  • Education Level: Middle
  • # of students: 865
  • # of teachers: 40
4
GreatSchools Rating

North Mecklenburg High School

  • Education Level: High
  • # of students: 1,881
  • # of teachers: 101
3
GreatSchools Rating
 

$405,637$495,779$450,708

PURCHASE PRICE

$2,070$2,530$2,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,300
EXPENSES Loan Payment -$1,565
Property Tax -$361
Property Insurance -$96
HOA -$45
Property Management Fees -$119
CASH FLOW
$114

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.

$450,708

PROJECTED PRICE

$2,300

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 4.9%
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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$121,438

INVESTMENT

$121,438

Down Payment
$112,677
Rehab Estimate
$2,000
Closing Costs
$6,761

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,565

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $112,677
Loan Amount $338,031
See What Happens When You Reinvest Cash Flow

7.08

YEARS SAVED

$39,114

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,300

    LIST RENT
  • $0.63

    LIST RENT PER SQFT
  • $2,265

    COMP ESTIMATED VALUE
  • $0.62

    COMP AVG. RENT PER SQFT
Comps Range
$2,050
1$2,0502$2,1003$2,2004$2,3005$2,445
$2,445
RENT COMPS ANALYSIS
  • 7014 North Bridge Drive Huntersville, NC 4
    • 5 beds 5 baths ∙ 3,654 Sqft ∙ Built 2021 5 beds 5 baths ∙ 3,654 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.63
    •  
  • 10685 Skipping Rock Lane Nw Concord, NC 1
    • 6 beds 5 baths ∙ 3,440 Sqft ∙ Built 2015 6 beds 5 baths ∙ 3,440 Sqft ∙ Built 2015
    LEASED 01/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.60
    •  
  • 1472 Chandler Avenue Concord, NC 2
    • 5 beds 3 baths ∙ 3,665 Sqft ∙ Built 2010 5 beds 3 baths ∙ 3,665 Sqft ∙ Built 2010
    LEASED 10/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.57
    •  
  • 1572 Duckhorn Street Concord, NC 3
    • 4 beds 4 baths ∙ 3,500 Sqft ∙ Built 2005 4 beds 4 baths ∙ 3,500 Sqft ∙ Built 2005
    LEASED 07/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.63
    •  
  • 10139 Lafoy Drive Huntersville, NC 5
    • 4 beds 4 baths ∙ 3,578 Sqft ∙ Built 2001 4 beds 4 baths ∙ 3,578 Sqft ∙ Built 2001
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,445
    • $0.68
    •  
PROPERTY LISTING DETAILS
Zachary Milo
1.980.622.3856
Dr Horton Inc
BESbswy