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8411 Aspen Court Mint Hill, NC 28227

4 Beds 3 Baths 2,865 sqft Built 2018

INVESTimate

$385,000

List Price

$1,950

$1,755 - $2,145

Rent Est.

$411,719  ( +6.94%)   1 YR EST. FORECAST

PROPERTY INFO

August 24, 2020 RECENTLY ADDED
FACTS
  • Built In 2018
  • Price/Sqft : $134.38
  • 3 Days on Market
  • MLS # : 3654734
  • Updated Date : 08/24/2020 at 10:48
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,865 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Ballantyne Area

Listing Agent's Description

WELCOME to this beautiful, like new home in highly desirable community in Charlotte/Mint Hill area. Located on .70 acres, this spacious 4 Bedroom 2/1 Bath home features a fabulous open concept floorplan, perfect for entertaining. The main level offers an spacious Office room, large Kitchen with a massive Island, Granite countertops and Stainless Steel appliances. Second Floor features a Large Master Suite with Luxury Bath and Huge Walk in Closet! Three additional bedrooms and a large bonus room. Entertain on the back deck and enjoy the view of the woods.

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

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
Clear Creek Elementary School Primary Regular 647 37 6
Northeast Middle School Middle Regular 739 45 3
Independence High School High Regular 2,349 128 6

Clear Creek Elementary School

  • Education Level: Primary
  • # of students: 647
  • # of teachers: 37
6
GreatSchools Rating

Northeast Middle School

  • Education Level: Middle
  • # of students: 739
  • # of teachers: 45
3
GreatSchools Rating

Independence High School

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

$346,500$423,500$385,000

PURCHASE PRICE

$1,755$2,145$1,950

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-$4.0k-$2.0k$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$200k$400k$600k$800k$1.0M$1.2M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,950
EXPENSES Loan Payment -$1,420
Property Tax -$304
Property Insurance -$81
HOA -$18
Property Management Fees -$176
CASH FLOW
-$49

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.

$385,000

PROJECTED PRICE

$1,950

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 6.94%
Maintenance Year (1-5) 8.00%
Vacancy 6.57%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$107,775

INVESTMENT

$107,775

Down Payment
$96,250
Rehab Estimate
$5,750
Closing Costs
$5,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,420

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $96,250
Loan Amount $288,750
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$15,500

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,950

    LIST RENT
  • $0.68

    LIST RENT PER SQFT
  • $1,948

    COMP ESTIMATED VALUE
  • $0.68

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,8953$1,950
$1,950
RENT COMPS ANALYSIS
  • 8411 Aspen Court Mint Hill, NC 3
    • 4 beds 3 baths ∙ 2,865 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,865 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.68
    •  
  • 9525 Brief Road Charlotte, NC 1
    • 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
    •  
  • 10612 Ebony Tress Lane Mint Hill, NC 2
    • 4 beds 3 baths ∙ 2,920 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,920 Sqft ∙ Built 2017
    LEASED 01/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.65
    •  
PROPERTY LISTING DETAILS
Alexandra Nistor
1.704.236.3997
Keller Williams Ballantyne Area
BESbswy