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

7026 Honey Tree Lane Indian Trail, NC 28079

3 Beds 3 Baths 1,649 sqft Built 1999

$275,000

List Price

$1,600

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $166.77
  • 5 Days on Market
  • MLS # : 3720523
  • Updated Date : 03/27/2021 at 10:01
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,649 sqft
  • Baths : 2 full , 1 half
Listing Agent

Realty One Group Revolution

Listing Agent's Description

Welcome to the highly desired community of Brandon Oaks, Indian Trail. This impressively maintained home sits in a quiet cul-de- sac on a peaceful street. The home enjoys abundant natural light and a layout designed for easy living and entertaining. The main floor features a generously proportion kitchen, breakfast area, and a welcoming living, & dining room. The living room's fireplace provides warmth and comfort in the winter. Upstairs you will find three elegant bedrooms and a laundry room. The master suite with tray ceilings and freshly painted walls is stunningly beautiful. The two giant walk- in closets provide ample storage. The spacious master bath with a garden tub is absolutely captivating. Other highlights of of the property include central air, in-ground irrigation, a porch, a patio and a deck. OPEN HOUSE : 12-2 pm SAT/SUN

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

Neighborhood: Brandon Oaks

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $118k318k

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

Neighborhood: Brandon Oaks

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
Sun Valley Elementary School Primary Regular 695 45 9
Sun Valley Middle School Middle Regular 1,365 69 6
Sun Valley High School High Regular 1,306 76 7

Sun Valley Elementary School

  • Education Level: Primary
  • # of students: 695
  • # of teachers: 45
9
GreatSchools Rating

Sun Valley Middle School

  • Education Level: Middle
  • # of students: 1,365
  • # of teachers: 69
6
GreatSchools Rating

Sun Valley High School

  • Education Level: High
  • # of students: 1,306
  • # of teachers: 76
7
GreatSchools Rating
 

$247,500$302,500$275,000

PURCHASE PRICE

$1,440$1,760$1,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,600
EXPENSES Loan Payment -$955
Property Tax -$180
Property Insurance -$58
HOA -$38
Property Management Fees -$119
CASH FLOW
$250

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.

$275,000

PROJECTED PRICE

$1,600

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 6.2%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,625

INVESTMENT

$78,625

Down Payment
$68,750
Rehab Estimate
$5,750
Closing Costs
$4,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$955

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $68,750
Loan Amount $206,250
See What Happens When You Reinvest Cash Flow

10.42

YEARS SAVED

$42,154

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,600

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,612

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,5953$1,6004$1,6505$1,925
$1,925
RENT COMPS ANALYSIS
  • 7026 Honey Tree Lane Indian Trail, NC 3
    • 3 beds 3 baths ∙ 1,649 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,649 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.97
    •  
  • 2004 Helleri Drive Indian Trail, NC 1
    • 3 beds 2 baths ∙ 1,505 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,505 Sqft ∙ Built 2005
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.99
    •  
  • 2004 Rosewater Lane Indian Trail, NC 2
    • 3 beds 2 baths ∙ 1,745 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,745 Sqft ∙ Built 2005
    LEASED 02/19/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.91
    •  
  • 3004 Secret Garden Court Indian Trail, NC 4
    • 4 beds 2 baths ∙ 1,835 Sqft ∙ Built 2002 4 beds 2 baths ∙ 1,835 Sqft ∙ Built 2002
    LEASED 09/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.90
    •  
  • 5331 Courtfield Drive Indian Trail, NC 5
    • 3 beds 2 baths ∙ 1,687 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,687 Sqft ∙ Built 1997
    LEASED 03/03/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,925
    • $1.14
    •  
PROPERTY LISTING DETAILS
Ousman Jallow
1.704.724.3881
Realty One Group Revolution
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3720523
Last Updated: 03/27/2021
BESbswy