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7584 Long Valley Drive Harrisburg, NC 28075

4 Beds 3 Baths 2,382 sqft Built 1990

$339,900

List Price

$1,760

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

February 03, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $142.70
  • 5 Days on Market
  • MLS # : 3704418
  • Updated Date : 02/03/2021 at 15:22
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,382 sqft
  • Baths : 2 full , 1 half
Listing Agent

Offerpad Brokerage Llc

Listing Agent's Description

VACANT! Corner lot ranch home in quiet community in Harrisburg. Beautiful brick exterior with long driveway leading to garage on rear of home. Inside, find spacious entertaining areas with living room and dining room open to eat in kitchen and large family room. Fresh new carpet and beautiful gray paint throughout. Enjoy BBQs or your morning coffee on the spacious back deck. Take a tour today!

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: Orchard Park

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $118k318k

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

Neighborhood: Orchard Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8441864

* 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
Harrisburg Elementary School Primary Regular 912 53 8
Hickory Ridge Middle School Middle Regular 1,164 65 NA
Hickory Ridge High School High Regular 1,573 77 7

Harrisburg Elementary School

  • Education Level: Primary
  • # of students: 912
  • # of teachers: 53
8
GreatSchools Rating

Hickory Ridge Middle School

  • Education Level: Middle
  • # of students: 1,164
  • # of teachers: 65
NA
GreatSchools Rating

Hickory Ridge High School

  • Education Level: High
  • # of students: 1,573
  • # of teachers: 77
7
GreatSchools Rating
 

$305,910$373,890$339,900

PURCHASE PRICE

$1,584$1,936$1,760

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,760
EXPENSES Loan Payment -$1,181
Property Tax -$241
Property Insurance -$72
HOA -$30
Property Management Fees -$119
CASH FLOW
$117

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.

$339,900

PROJECTED PRICE

$1,760

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 5.2%
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$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$95,824

INVESTMENT

$95,824

Down Payment
$84,975
Rehab Estimate
$5,750
Closing Costs
$5,099

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,181

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $84,975
Loan Amount $254,925
See What Happens When You Reinvest Cash Flow

7.5

YEARS SAVED

$32,028

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,760

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $1,733

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6753$1,6954$1,7605$1,795
$1,795
RENT COMPS ANALYSIS
  • 7584 Long Valley Drive Harrisburg, NC 4
    • 4 beds 3 baths ∙ 2,382 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,382 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $1,760
    • $0.74
    •  
  • 4307 Houldsworth Drive Charlotte, NC 1
    • 4 beds 3 baths ∙ 2,400 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,400 Sqft ∙ Built 2007
    LEASED 05/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.69
    •  
  • 5076 Sunburst Lane Charlotte, NC 2
    • 3 beds 3 baths ∙ 2,330 Sqft ∙ Built 3 beds 3 baths ∙ 2,330 Sqft ∙ Built
    LEASED 12/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.72
    •  
  • 16201 Hayfield Road Charlotte, NC 3
    • 4 beds 3 baths ∙ 2,210 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,210 Sqft ∙ Built 2004
    LEASED 02/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.77
    •  
  • 4803 Sunburst Lane Charlotte, NC 5
    • 3 beds 3 baths ∙ 2,472 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,472 Sqft ∙ Built 2004
    LEASED 09/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.73
    •  
PROPERTY LISTING DETAILS
Derek Dickson
1.704.810.1576
Offerpad Brokerage Llc
BESbswy