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

7607 Stable Creek Drive #35 Huntersville, NC 28078

5 Beds 3 Baths 3,010 sqft Built 2020

$422,990

List Price

$2,030

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
November 04, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $140.53
  • 5 Days on Market
  • MLS # : 3679243
  • Updated Date : 11/04/2020 at 11:09
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,010 sqft
  • Baths : 3 full
Listing Agent

Nvr Homes, Inc./ryan Homes

Listing Agent's Description

This to-be-built home offers fantastic space for a family with five bedrooms (including first floor guest suite) plus a loft plus flexible space for an office. Walking trails throughout this heavily wooded community that is close to shopping and dining and schools and all interstates. Enjoy your generous back yard.

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

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
 

$380,691$465,289$422,990

PURCHASE PRICE

$1,827$2,233$2,030

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,030
EXPENSES Loan Payment -$1,561
Property Tax -$339
Property Insurance -$84
Property Management Fees -$183
CASH FLOW
-$136

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.

$422,990

PROJECTED PRICE

$2,030

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$114,092

INVESTMENT

$114,092

Down Payment
$105,748
Rehab Estimate
$2,000
Closing Costs
$6,345

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,561

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $105,748
Loan Amount $317,243
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$14,551

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,030

    LIST RENT
  • $0.67

    LIST RENT PER SQFT
  • $1,972

    COMP ESTIMATED VALUE
  • $0.66

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,8503$1,8754$2,0305$2,100
$2,100
RENT COMPS ANALYSIS
  • 7607 Stable Creek Drive Huntersville, NC 4
    • 5 beds 3 baths ∙ 3,010 Sqft ∙ Built 2020 5 beds 3 baths ∙ 3,010 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $2,030
    • $0.67
    •  
  • 10021 Barbee Drive Charlotte, NC 1
    • 4 beds 3 baths ∙ 2,674 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,674 Sqft ∙ Built 2005
    LEASED 03/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.63
    •  
  • 11339 Fox Hill Drive Charlotte, NC 2
    • 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
    •  
  • 10155 Spring Park Drive Charlotte, NC 3
    • 4 beds 3 baths ∙ 2,770 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,770 Sqft ∙ Built 2005
    LEASED 11/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.68
    •  
  • 8517 Delamere Lane Charlotte, NC 5
    • 4 beds 3 baths ∙ 3,105 Sqft ∙ Built 2007 4 beds 3 baths ∙ 3,105 Sqft ∙ Built 2007
    LEASED 10/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.68
    •  
PROPERTY LISTING DETAILS
Jerry Smith
1.704.610.5282
Nvr Homes, Inc./ryan Homes
BESbswy