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7533 Stable Creek Drive #34 Huntersville, NC 28078

4 Beds 3 Baths 2,718 sqft Built 2020

$409,990

List Price

$1,950

$1.8K - $2.1K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
November 24, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $150.84
  • 6 Days on Market
  • MLS # : 3686334
  • Updated Date : 11/24/2020 at 12:24
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,718 sqft
  • Baths : 2 full , 1 half
Listing Agent

Nvr Homes, Inc./ryan Homes

Listing Agent's Description

You’ll love living at Chapel Grove, conveniently located in Huntersville near all the interstates. This home is to be built and perfect for a family or a couple who just wants room to spread out. Four bedrooms, including a guest suite on the main floor. You’ll want to entertain often in this open space with huge island and spacious family room and dining. If you’ve been looking for an oversized loft, this is the home for you—bring on game night! And when it’s time to sleep retreat to your generously sized upstairs bedrooms. Your yard will be amazing, too—pretty level for play and pleasure. Choose all your options now and move in early spring!

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
 

$368,991$450,989$409,990

PURCHASE PRICE

$1,755$2,145$1,950

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,950
EXPENSES Loan Payment -$1,513
Property Tax -$328
Property Insurance -$78
Property Management Fees -$176
CASH FLOW
-$145

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.

$409,990

PROJECTED PRICE

$1,950

PROJECTED RENT

0.48%

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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$110,647

INVESTMENT

$110,647

Down Payment
$102,498
Rehab Estimate
$2,000
Closing Costs
$6,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,513

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $102,498
Loan Amount $307,493
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$13,248

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,950

    LIST RENT
  • $0.72

    LIST RENT PER SQFT
  • $1,950

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,7953$1,8504$1,9505$2,225
$2,225
RENT COMPS ANALYSIS
  • 7533 Stable Creek Drive Huntersville, NC 4
    • 4 beds 3 baths ∙ 2,718 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,718 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.72
    •  
  • 9017 Socata Way Charlotte, NC 1
    • 4 beds 3 baths ∙ 2,384 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,384 Sqft ∙ Built 2007
    LEASED 08/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.73
    •  
  • 11500 Leigh Glen Circle Charlotte, NC 2
    • 4 beds 3 baths ∙ 2,480 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,480 Sqft ∙ Built 1997
    LEASED 06/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.72
    •  
  • 11339 Fox Hill Drive Charlotte, NC 3
    • 4 beds 3 baths ∙ 2,762 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,762 Sqft ∙ Built 1997
    LEASED 07/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.67
    •  
  • 9425 Hartington Place Charlotte, NC 5
    • 5 beds 3 baths ∙ 2,957 Sqft ∙ Built 2018 5 beds 3 baths ∙ 2,957 Sqft ∙ Built 2018
    LEASED 06/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,225
    • $0.75
    •  
PROPERTY LISTING DETAILS
Jerry Smith
1.704.610.5282
Nvr Homes, Inc./ryan Homes
BESbswy