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8230 Brief Road Mint Hill, NC 28227

4 Beds 3 Baths 2,390 sqft Built 1972

$329,900

List Price

$1,470

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1972
  • Price/Sqft : $138.03
  • 7 Days on Market
  • MLS # : 3711203
  • Updated Date : 02/25/2021 at 20:20
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,390 sqft
  • Baths : 2 full , 1 half
Listing Agent

Exp Realty Llc

Listing Agent's Description

Looking for space but don't want to live too far out? This retreat sits on an amazing piece of land close to 485. Nearly three acres of rolling hills, open spaces, trees, peace and quiet. Smartly designed floorplan is ready for your updates and personal touches. Live in this fantastic fixer upper while you make it your dream home.

SEE MORE

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

Zip Code: 28227

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $100k291k

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

Zip Code: 28227

ZipNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8421713

* 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
Bain Elementary School Primary Regular 899 49 10
Mint Hill Middle School Middle Regular 1,249 64 5
Independence High School High Regular 2,349 128 6

Bain Elementary School

  • Education Level: Primary
  • # of students: 899
  • # of teachers: 49
10
GreatSchools Rating

Mint Hill Middle School

  • Education Level: Middle
  • # of students: 1,249
  • # of teachers: 64
5
GreatSchools Rating

Independence High School

  • Education Level: High
  • # of students: 2,349
  • # of teachers: 128
6
GreatSchools Rating
 

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

PURCHASE PRICE

$1,323$1,617$1,470

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,470
EXPENSES Loan Payment -$1,146
Property Tax -$247
Property Insurance -$72
Property Management Fees -$119
CASH FLOW
-$114

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.

$329,900

PROJECTED PRICE

$1,470

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 6.9%
Maintenance Year (1-5) 8.00%
Vacancy 6.57%
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$1.0M

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 55% 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

3.5

YEARS SAVED

$9,786

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,470

    LIST RENT
  • $0.62

    LIST RENT PER SQFT
  • $1,729

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$1,470
1$1,4702$1,5953$1,6954$1,800
$1,800
RENT COMPS ANALYSIS
  • 8230 Brief Road Mint Hill, NC 1
    • 4 beds 3 baths ∙ 2,390 Sqft ∙ Built 1972 4 beds 3 baths ∙ 2,390 Sqft ∙ Built 1972
    • Rent
    • Rent Per SQFT
    •  
    • $1,470
    • $0.62
    •  
  • 6814 Long Road Mint Hill, NC 2
    • 3 beds 3 baths ∙ 2,400 Sqft ∙ Built 1958 3 beds 3 baths ∙ 2,400 Sqft ∙ Built 1958
    LEASED 09/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.66
    •  
  • 2642 Shelburne Place Mint Hill, NC 3
    • 4 beds 2 baths ∙ 2,112 Sqft ∙ Built 1972 4 beds 2 baths ∙ 2,112 Sqft ∙ Built 1972
    LEASED 11/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.80
    •  
  • 9525 Brief Road Charlotte, NC 4
    • 3 beds 3 baths ∙ 2,519 Sqft ∙ Built 1968 3 beds 3 baths ∙ 2,519 Sqft ∙ Built 1968
    LEASED 10/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.71
    •  
PROPERTY LISTING DETAILS
Brett Dunleavy
1.704.724.2038
Exp Realty Llc
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3711203
Last Updated: 02/25/2021
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