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8013 Holly Hill Road Charlotte, NC 28227

3 Beds 2 Baths 2,048 sqft Built 1986

$220,000

List Price

$1,460

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 15, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $107.42
  • 3 Days on Market
  • MLS # : 3682331
  • Updated Date : 11/15/2020 at 00:05
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,048 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Fully Renovated home with full upgrades 2020 , New Roof , New windows, New HVAC , New Water Heater , Looks newly built house. New flooring throughout the house with fresh paint the whole house. House will be measured professionally. Vacant - go show.

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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

Neighborhood: Hickory Ridge

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $74k235k

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

Neighborhood: Hickory Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2700800900100011001200130014001500Rent in $6771518

* 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
J.h. Gunn Elementary School Primary Regular 695 42 2
Albemarle Road Middle School Middle Regular 1,198 64 2
Rocky River High School High Regular 1,710 90 3

J.h. Gunn Elementary School

  • Education Level: Primary
  • # of students: 695
  • # of teachers: 42
2
GreatSchools Rating

Albemarle Road Middle School

  • Education Level: Middle
  • # of students: 1,198
  • # of teachers: 64
2
GreatSchools Rating

Rocky River High School

  • Education Level: High
  • # of students: 1,710
  • # of teachers: 90
3
GreatSchools Rating
 

$198,000$242,000$220,000

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 -$812
Property Tax -$192
Property Insurance -$66
Property Management Fees -$131
CASH FLOW
$259

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.

$220,000

PROJECTED PRICE

$1,460

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 8.8%
Maintenance Year (1-5) 8.00%
Vacancy 6.02%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530$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$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$64,050

INVESTMENT

$64,050

Down Payment
$55,000
Rehab Estimate
$5,750
Closing Costs
$3,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$812

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $55,000
Loan Amount $165,000
See What Happens When You Reinvest Cash Flow

10.33

YEARS SAVED

$39,456

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
  • $0.71

    LIST RENT PER SQFT
  • $1,603

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,349
1$1,3492$1,4603$1,6454$1,6955$1,745
$1,745
RENT COMPS ANALYSIS
  • 8013 Holly Hill Road Charlotte, NC 2
    • 3 beds 2 baths ∙ 2,048 Sqft ∙ Built 1986 3 beds 2 baths ∙ 2,048 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $1,460
    • $0.71
    •  
  • 6931 Robinson Church Road Charlotte, NC 1
    • 3 beds 2 baths ∙ 1,802 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,802 Sqft ∙ Built 1955
    LEASED 11/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,349
    • $0.75
    •  
  • 9212 Evans Creek Court Charlotte, NC 3
    • 4 beds 3 baths ∙ 2,106 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,106 Sqft ∙ Built 2019
    LEASED 03/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,645
    • $0.78
    •  
  • 9216 Evans Creek Court Charlotte, NC 4
    • 4 beds 3 baths ∙ 2,106 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,106 Sqft ∙ Built 2019
    LEASED 05/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.80
    •  
  • 9228 Evans Creek Court Charlotte, NC 5
    • 4 beds 3 baths ∙ 2,180 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,180 Sqft ∙ Built 2019
    LEASED 03/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,745
    • $0.80
    •  
PROPERTY LISTING DETAILS
Paul Sum
1.980.208.7610
Coldwell Banker Realty
BESbswy