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

8017 Hickory Drive Charlotte, NC 28215

3 Beds 2 Baths 1,680 sqft Built 1972

INVESTimate

$280,000

List Price

$1,560

$1,404 - $1,716

Rent Est.

$302,652  ( +8.09%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1972
  • Price/Sqft : $166.67
  • 9 Days on Market
  • MLS # : 3652231
  • Updated Date : 08/22/2020 at 09:32
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,680 sqft
  • Baths : 2 full
Listing Agent

Imatch Realty Llc

Listing Agent's Description

Well maintained brick ranch with new roof, HVAC and Heat installed in 2015. House sits on a private lot just under two acres. Home subject to lease expiring June 2021. DO NOT DISTURB TENANT.

SEE MORE

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: Silverwood

NeighborhoodNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230kPrice in $113k235k

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

Neighborhood: Silverwood

NeighborhoodNIR Market*CityMarket2010Year20002019 Q285090095010001050110011501200125013001350140014501500Rent in $8421518

* 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
Hickory Grove Elementary School Primary Regular 1,010 61 6
Cochrane Collegiate Academy Middle Regular 702 48 2
Cochrane Collegiate Academy High Regular 702 48 2

Hickory Grove Elementary School

  • Education Level: Primary
  • # of students: 1,010
  • # of teachers: 61
6
GreatSchools Rating

Cochrane Collegiate Academy

  • Education Level: Middle
  • # of students: 702
  • # of teachers: 48
2
GreatSchools Rating

Cochrane Collegiate Academy

  • Education Level: High
  • # of students: 702
  • # of teachers: 48
2
GreatSchools Rating
 

$252,000$308,000$280,000

PURCHASE PRICE

$1,404$1,716$1,560

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,560
EXPENSES Loan Payment -$1,033
Property Tax -$260
Property Insurance -$59
Property Management Fees -$140
CASH FLOW
$68

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$280,000

PROJECTED PRICE

$1,560

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 8.09%
Maintenance Year (1-5) 8.00%
Vacancy 6.57%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,950

INVESTMENT

$79,950

Down Payment
$70,000
Rehab Estimate
$5,750
Closing Costs
$4,200

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,033

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $70,000
Loan Amount $210,000
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$19,432

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,560

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,386

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,4753$1,4904$1,4995$1,560
$1,560
RENT COMPS ANALYSIS
  • 8017 Hickory Drive Charlotte, NC 5
    • 3 beds 2 baths ∙ 1,680 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,680 Sqft ∙ Built 1972
    • Rent
    • Rent Per SQFT
    •  
    • $1,560
    • $0.93
    •  
  • 13819 Plowdon Court Charlotte, NC 1
    • 3 beds 2 baths ∙ 1,823 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,823 Sqft ∙ Built 2007
    LEASED 06/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.80
    •  
  • 7004 Amberly Hills Road Charlotte, NC 2
    • 3 beds 3 baths ∙ 1,800 Sqft ∙ Built 2018 3 beds 3 baths ∙ 1,800 Sqft ∙ Built 2018
    LEASED 01/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.82
    •  
  • 9725 Weikert Place Charlotte, NC 3
    • 3 beds 3 baths ∙ 1,800 Sqft ∙ Built 2019 3 beds 3 baths ∙ 1,800 Sqft ∙ Built 2019
    LEASED 10/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,490
    • $0.83
    •  
  • 6736 Jerimoth Place Charlotte, NC 4
    • 3 beds 3 baths ∙ 1,800 Sqft ∙ Built 2019 3 beds 3 baths ∙ 1,800 Sqft ∙ Built 2019
    LEASED 09/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,499
    • $0.83
    •  
PROPERTY LISTING DETAILS
Tania Guerrero
1.980.219.4367
Imatch Realty Llc
BESbswy