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

8308 Bellingham Court Huntersville, NC 28078

4 Beds 3 Baths 2,571 sqft Built 1990

INVESTimate

$429,000

List Price

$2,100

$1,890 - $2,310

Rent Est.

$452,252  ( +5.42%)   1 YR EST. FORECAST

PROPERTY INFO

August 23, 2020 RECENTLY ADDED
FACTS
  • Built In 1990
  • Price/Sqft : $166.86
  • 5 Days on Market
  • MLS # : 3640566
  • Updated Date : 08/24/2020 at 12:25
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,571 sqft
  • Baths : 2 full , 1 half
Listing Agent

Exp Realty Llc

Listing Agent's Description

FULL BRICK home in a cul-de-sac in desirable Breckenridge! GREAT LOCATION IN HUNTERSVILLE! This home is a rare find offering a serene environment, acreage and conveniently located minutes from Lake Norman, Birkdale Village, and I-77. You have your own private oasis with tons of space to work, play & entertain at home. Welcomed by a long driveway and beautiful landscaping! This home offers 4 bedrooms and 2.5 baths, flex room/living room, office and dining room. Kitchen has granite countertops, breakfast area with a large window that overlooks the pool and leads into the family room. Family room features a cozy fireplace. Walk through the double doors that lead to screened porch, deck & pool. Large Master upstairs w/ ensuite. Private backyard and lush landscape surround this amazing property. Relax in your own private pool, catch some rays by the sandy beach area, have a few refreshments at the custom outdoor bar. Wait until you see the custom outdoor restroom! Furniture negotiable!

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: 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
Grand Oak Elementary School Primary Unknown 601 36 NA
Francis Bradley Middle School Middle Regular 1,140 59 6
Hopewell High School High Regular 1,653 87 3

Grand Oak Elementary School

  • Education Level: Primary
  • # of students: 601
  • # of teachers: 36
NA
GreatSchools Rating

Francis Bradley Middle School

  • Education Level: Middle
  • # of students: 1,140
  • # of teachers: 59
6
GreatSchools Rating

Hopewell High School

  • Education Level: High
  • # of students: 1,653
  • # of teachers: 87
3
GreatSchools Rating
 

$386,100$471,900$429,000

PURCHASE PRICE

$1,890$2,310$2,100

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,100
EXPENSES Loan Payment -$1,583
Property Tax -$344
Property Insurance -$76
HOA -$3
Property Management Fees -$189
CASH FLOW
-$95

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.

$429,000

PROJECTED PRICE

$2,100

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 5.42%
Maintenance Year (1-5) 8.00%
Vacancy 6.31%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$119,435

INVESTMENT

$119,435

Down Payment
$107,250
Rehab Estimate
$5,750
Closing Costs
$6,435

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,583

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $107,250
Loan Amount $321,750
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$17,990

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,100

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $2,230

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,1003$2,1504$2,2005$2,300
$2,300
RENT COMPS ANALYSIS
  • 8308 Bellingham Court Huntersville, NC 2
    • 4 beds 3 baths ∙ 2,571 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,571 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.82
    •  
  • 8519 Brentfield Road Huntersville, NC 1
    • 4 beds 3 baths ∙ 2,396 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,396 Sqft ∙ Built 1997
    LEASED 09/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.83
    •  
  • 16433 Breckshire Drive Huntersville, NC 3
    • 4 beds 3 baths ∙ 2,423 Sqft ∙ Built 1985 4 beds 3 baths ∙ 2,423 Sqft ∙ Built 1985
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.89
    •  
  • 16565 Kimbolten Drive Huntersville, NC 4
    • 4 beds 3 baths ∙ 2,414 Sqft ∙ Built 1985 4 beds 3 baths ∙ 2,414 Sqft ∙ Built 1985
    LEASED 11/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.91
    •  
  • 17033 Carlton Way Road Huntersville, NC 5
    • 4 beds 3 baths ∙ 2,728 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,728 Sqft ∙ Built 2002
    LEASED 06/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.84
    •  
PROPERTY LISTING DETAILS
Melissa Chambers
1.704.439.6232
Exp Realty Llc
BESbswy