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8139 Townley Road Huntersville, NC 28078

3 Beds 2 Baths 1,409 sqft Built 2000

$329,900

List Price

$1,660

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $234.14
  • 3 Days on Market
  • MLS # : 3705957
  • Updated Date : 02/06/2021 at 13:37
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,409 sqft
  • Baths : 2 full
Listing Agent

Falvey & Associates

Listing Agent's Description

Step into this charming, 1.5 story, Charleston-style cottage with covered front porch. Birkdale Village’s dining, shopping, and entertainment is only a seven-minute walk! The open floor plan features hardwood floors throughout the first level. The Great Room includes a gas fireplace and crown molding. The kitchen features granite countertops, maple cabinets, and stainless-steel appliances. The luxurious master suite occupies the second floor. The home has plenty of storage including two large, walk-in attic spaces, an attached exterior storage room, and a detached two-car garage. The private, fenced backyard is an entertaining oasis! Recent updates include interior and exterior lighting, a new roof in 2017, a new HVAC in 2018, and fresh exterior paint in 2019. This highly desirable, walkable neighborhood includes greenways, tennis courts, outdoor pool, clubhouse, playground, and parks.

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

Neighborhood: Birkdale Village

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $118k343k

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

Neighborhood: Birkdale Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8441895

* 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.v. Washam Elementary School Primary Regular 992 49 8
Bailey Middle School Middle Regular 1,616 77 9
William Amos Hough High School High Regular 2,453 120 8

J.v. Washam Elementary School

  • Education Level: Primary
  • # of students: 992
  • # of teachers: 49
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
 

$296,910$362,890$329,900

PURCHASE PRICE

$1,494$1,826$1,660

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,660
EXPENSES Loan Payment -$1,146
Property Tax -$252
Property Insurance -$54
HOA -$63
Property Management Fees -$119
CASH FLOW
$26

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.

$329,900

PROJECTED PRICE

$1,660

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 5.0%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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$93,174

INVESTMENT

$93,174

Down Payment
$82,475
Rehab Estimate
$5,750
Closing Costs
$4,949

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,146

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $82,475
Loan Amount $247,425
See What Happens When You Reinvest Cash Flow

6

YEARS SAVED

$22,377

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,660

    LIST RENT
  • $1.18

    LIST RENT PER SQFT
  • $1,469

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$1,660
1$1,6602$1,6953$1,7504$1,7755$1,795
$1,795
RENT COMPS ANALYSIS
  • 8139 Townley Road Huntersville, NC 1
    • 3 beds 2 baths ∙ 1,409 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,409 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $1,660
    • $1.18
    •  
  • 16527 Knox Run Road Huntersville, NC 2
    • 3 beds 2 baths ∙ 1,597 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,597 Sqft ∙ Built 2001
    LEASED 02/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.06
    •  
  • 8321 Strandhill Road Huntersville, NC 3
    • 3 beds 3 baths ∙ 1,750 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,750 Sqft ∙ Built 1999
    LEASED 02/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.00
    •  
  • 8124 Parkton Gate Drive Huntersville, NC 4
    • 3 beds 3 baths ∙ 1,700 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,700 Sqft ∙ Built 2000
    LEASED 02/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $1.04
    •  
  • 8129 Parkton Gate Drive Huntersville, NC 5
    • 3 beds 3 baths ∙ 1,723 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,723 Sqft ∙ Built 2000
    LEASED 12/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.04
    •  
PROPERTY LISTING DETAILS
David Falvey
1.919.656.1388
Falvey & Associates
BESbswy