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800 Southland Road Huntersville, NC 28078

3 Beds 2 Baths 1,450 sqft Built 1987

$319,900

List Price

$1,460

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $220.62
  • 5 Days on Market
  • MLS # : CAR3760745
  • Updated Date : 07/13/2021 at 01:32
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,450 sqft
  • Baths : 2 full
Listing Agent

Mckenzie Real Estate Of Nc

Listing Agent's Description

This rare find could be yours, but only if you act fast. It's not often that an opportunity like this pops up in Huntersville. This 3 bed/2 bath gem has been redone from top to bottom. There's not a room that hasn't been touched. From the brand new flooring throughout the home, even the master bath with its 12' tiles and fresh grout, to the new stainless stove, hood, refrigerator and dishwasher...you can just feel the quality! Will you be more impressed with the recently installed solid surface Corian kitchen counters or the natural stone vanity tops in each bathroom? Maybe it's the oil rubbed bronze Kohler fixtures that will get you. Relax on the incredible deck as you enjoy your corner lot (one of the biggest in the neighborhood). We haven't even talked about the convenience to travel or the highly desirable Huntersville schools. Don't miss out. Make this beauty yours today.

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MARKET HIGHLIGHTS

  • 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)
  • 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)

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
Huntersville Elementary School Primary Regular 729 42 8
Bailey Middle School Middle Regular 1,616 77 9
William Amos Hough High School High Regular 2,453 120 8

Huntersville Elementary School

  • Education Level: Primary
  • # of students: 729
  • # of teachers: 42
8
GreatSchools Rating

Bailey Middle School

  • Education Level: Middle
  • # of students: 1,616
  • # of teachers: 77
9
GreatSchools Rating

William Amos Hough High School

  • Education Level: High
  • # of students: 2,453
  • # of teachers: 120
8
GreatSchools Rating
 

$287,910$351,890$319,900

PURCHASE PRICE

$1,314$1,606$1,460

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,460
EXPENSES Loan Payment -$1,111
Property Tax -$257
Property Insurance -$54
Property Management Fees -$119
CASH FLOW
-$81

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.

$319,900

PROJECTED PRICE

$1,460

PROJECTED RENT

0.46%

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

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$90,524

INVESTMENT

$90,524

Down Payment
$79,975
Rehab Estimate
$5,750
Closing Costs
$4,799

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,111

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $79,975
Loan Amount $239,925
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$13,595

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,460

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $1,523

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$1,460
1$1,4602$1,5753$1,5754$1,6755$1,725
$1,725
RENT COMPS ANALYSIS
  • 800 Southland Road Huntersville, NC 1
    • 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 1987
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,460
    • $1.01
    •  
  • 807 Cattaloochee Lane Huntersville, NC 2
    • 3 beds 3 baths ∙ 1,512 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,512 Sqft ∙ Built 2007
    property image
    LEASED 09/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $1.04
    •  
  • 814 Cattaloochee Lane Huntersville, NC 3
    • 3 beds 3 baths ∙ 1,512 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,512 Sqft ∙ Built 2005
    property image
    LEASED 02/12/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $1.04
    •  
  • 302 Canadice Road Huntersville, NC 4
    • 3 beds 3 baths ∙ 1,572 Sqft ∙ Built 1987 3 beds 3 baths ∙ 1,572 Sqft ∙ Built 1987
    property image
    LEASED 11/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $1.07
    •  
  • 16125 Farmall Drive Huntersville, NC 5
    • 3 beds 3 baths ∙ 1,643 Sqft ∙ Built 1996 3 beds 3 baths ∙ 1,643 Sqft ∙ Built 1996
    property image
    LEASED 02/28/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $1.05
    •  
PROPERTY LISTING DETAILS
Jenna Mckenzie
1.336.937.7355
Mckenzie Real Estate Of Nc
BESbswy