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8431 Bridgestone Drive Huntersville, NC 28078

3 Beds 3 Baths 2,129 sqft Built 1997

$359,900

List Price

$1,860

$1.7K - $2K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $169.05
  • 6 Days on Market
  • MLS # : 3681337
  • Updated Date : 11/14/2020 at 22:32
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,129 sqft
  • Baths : 2 full , 1 half
Listing Agent

Lake Norman Realty Inc

Listing Agent's Description

Here is your opportunity to live in the ever-popular Birkdale Neighborhood across from Birkdale Village Shopping Center! Nestled inside the neighborhood on a cul-de-sac lot, this happy home has upgrades galore: handsome 3” hardwoods; 18”x18” tile; granite counters; luscious high-end cabinets with slide-outs and dovetailed drawers; a 5-burner gas range; designer lighting; satin black hardware; fresh, neutral paint; and floor-to-ceiling millwork surrounding the Great Room fireplace. PLUS: there is a backyard patio with stacked-stone knee walls and an in-ground gas grill overlooking a sizeable, fenced backyard. PLUS: community amenities including an outdoor pool, tennis courts, club house, etc., and, with separate membership and fees, the Birkdale Golf Club. Defining fun! Schedule a showing today!

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: Birkdale

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380k400k420kPrice in $118k429k

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

Neighborhood: Birkdale

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600170018001900200021002200Rent in $8442208

* 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
 

$323,910$395,890$359,900

PURCHASE PRICE

$1,674$2,046$1,860

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,860
EXPENSES Loan Payment -$1,328
Property Tax -$320
Property Insurance -$67
HOA -$62
Property Management Fees -$167
CASH FLOW
-$85

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.

$359,900

PROJECTED PRICE

$1,860

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 4.1%
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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$101,124

INVESTMENT

$101,124

Down Payment
$89,975
Rehab Estimate
$5,750
Closing Costs
$5,399

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,328

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $89,975
Loan Amount $269,925
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$13,442

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,860

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,895

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,725
1$1,7252$1,8603$1,9354$1,9455$1,950
$1,950
RENT COMPS ANALYSIS
  • 8431 Bridgestone Drive Huntersville, NC 2
    • 3 beds 3 baths ∙ 2,129 Sqft ∙ Built 1997 3 beds 3 baths ∙ 2,129 Sqft ∙ Built 1997
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,860
    • $0.87
    •  
  • 8651 Brook Glen Lane Huntersville, NC 1
    • 4 beds 3 baths ∙ 2,000 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,000 Sqft ∙ Built 2000
    property image
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.86
    •  
  • 8708 Glade Court Huntersville, NC 3
    • 4 beds 3 baths ∙ 2,163 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,163 Sqft ∙ Built 1996
    property image
    LEASED 12/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,935
    • $0.89
    •  
  • 8670 Brook Glen Lane Huntersville, NC 4
    • 4 beds 3 baths ∙ 2,026 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,026 Sqft ∙ Built 2000
    property image
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,945
    • $0.96
    •  
  • 17017 Carlton Way Road Huntersville, NC 5
    • 3 beds 3 baths ∙ 2,262 Sqft ∙ Built 2001 3 beds 3 baths ∙ 2,262 Sqft ∙ Built 2001
    property image
    LEASED 02/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.86
    •  
PROPERTY LISTING DETAILS
Sally Sutherland
1.704.577.8352
Lake Norman Realty Inc
BESbswy