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7611 Silverton Way Huntersville, NC 28078

4 Beds 3 Baths 2,694 sqft Built 1999

$305,000

List Price

$1,890

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 1999
  • Price/Sqft : $113.21
  • 2 Days on Market
  • MLS # : 3680437
  • Updated Date : 11/07/2020 at 14:34
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,694 sqft
  • Baths : 2 full , 1 half
Listing Agent

Opendoor Brokerage Llc

Listing Agent's Description

This Huntersville two-story cul-de-sac home offers a two-car garage. This home is vacant and cleaned regularly.

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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: Huntersville

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $118k318k

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

Neighborhood: Huntersville

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
Barnette Elementary School Primary Unknown 640 38 NA
Francis Bradley Middle School Middle Regular 1,140 59 6
Hopewell High School High Regular 1,653 87 3

Barnette Elementary School

  • Education Level: Primary
  • # of students: 640
  • # of teachers: 38
NA
GreatSchools Rating

Francis Bradley Middle School

  • Education Level: Middle
  • # of students: 1,140
  • # of teachers: 59
6
GreatSchools Rating

Hopewell High School

  • Education Level: High
  • # of students: 1,653
  • # of teachers: 87
3
GreatSchools Rating
 

$274,500$335,500$305,000

PURCHASE PRICE

$1,701$2,079$1,890

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,890
EXPENSES Loan Payment -$1,125
Property Tax -$247
Property Insurance -$78
HOA -$46
Property Management Fees -$170
CASH FLOW
$224

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.

$305,000

PROJECTED PRICE

$1,890

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 5.4%
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$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$86,575

INVESTMENT

$86,575

Down Payment
$76,250
Rehab Estimate
$5,750
Closing Costs
$4,575

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,125

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $76,250
Loan Amount $228,750
See What Happens When You Reinvest Cash Flow

8.5

YEARS SAVED

$41,182

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,890

    LIST RENT
  • $0.7

    LIST RENT PER SQFT
  • $1,980

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,7003$1,8904$1,9955$2,100
$2,100
RENT COMPS ANALYSIS
  • 7611 Silverton Way Huntersville, NC 3
    • 4 beds 3 baths ∙ 2,694 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,694 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $1,890
    • $0.70
    •  
  • 13323 Waverton Lane Huntersville, NC 1
    • 3 beds 3 baths ∙ 2,358 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,358 Sqft ∙ Built 2004
    LEASED 07/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.72
    •  
  • 7526 Lullwater Cove Huntersville, NC 2
    • 4 beds 3 baths ∙ 2,383 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,383 Sqft ∙ Built 1997
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.71
    •  
  • 8133 Kalson Street Huntersville, NC 4
    • 4 beds 3 baths ∙ 2,776 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,776 Sqft ∙ Built 2016
    LEASED 08/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.72
    •  
  • 11218 Grenfell Avenue Huntersville, NC 5
    • 4 beds 3 baths ∙ 2,642 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,642 Sqft ∙ Built 2018
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.79
    •  
PROPERTY LISTING DETAILS
Verria Hairston
1.704.751.0133
Opendoor Brokerage Llc
BESbswy