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8724 Hallowford Drive Huntersville, NC 28078

4 Beds 4 Baths 2,880 sqft Built 2016

$389,900

List Price

$2,050

$1.8K - $2.3K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $135.38
  • 6 Days on Market
  • MLS # : 3687362
  • Updated Date : 12/04/2020 at 00:06
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,880 sqft
  • Baths : 3 full , 1 half
Listing Agent

Allen Tate Lake Norman

Listing Agent's Description

This Charming Charleston style home in desirable Arbormere is MOVE-IN ready. This gorgeous and immaculately kept home features beautiful hardwood floors on the main with spacious kitchen and butlers area, large living with fireplace and office. The owners suite features beautiful tile floors, large walk in closet and garden tub. There's 4 bedrooms upstairs, a loft and 3 full bathrooms. Community has a great outdoor pool and recreation area. Irrigation and a low maintenance yard will make upkeep a breeze! Close to shopping, restaurants and popular Birkdale.

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

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
Barnette Elementary School Primary Unknown 640 38 NA
Francis Bradley Middle School Middle Regular 1,140 59 6
Hopewell High School High Regular 1,653 87 3

Barnette Elementary School

  • Education Level: Primary
  • # of students: 640
  • # of teachers: 38
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
 

$350,910$428,890$389,900

PURCHASE PRICE

$1,845$2,255$2,050

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,050
EXPENSES Loan Payment -$1,439
Property Tax -$326
Property Insurance -$81
HOA -$59
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.

$389,900

PROJECTED PRICE

$2,050

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 5.4%
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$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

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$109,074

INVESTMENT

$109,074

Down Payment
$97,475
Rehab Estimate
$5,750
Closing Costs
$5,849

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,439

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $97,475
Loan Amount $292,425
See What Happens When You Reinvest Cash Flow

6

YEARS SAVED

$31,198

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,050

    LIST RENT
  • $0.71

    LIST RENT PER SQFT
  • $2,131

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$1,9953$2,0504$2,0955$2,350
$2,350
RENT COMPS ANALYSIS
  • 8724 Hallowford Drive Huntersville, NC 3
    • 4 beds 4 baths ∙ 2,880 Sqft ∙ Built 2016 4 beds 4 baths ∙ 2,880 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.71
    •  
  • 8133 Kalson Street Huntersville, NC 1
    • 4 beds 3 baths ∙ 2,776 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,776 Sqft ∙ Built 2016
    LEASED 08/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.72
    •  
  • 3934 Conner Glenn Drive Huntersville, NC 2
    • 4 beds 3 baths ∙ 2,656 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,656 Sqft ∙ Built 2004
    LEASED 02/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.75
    •  
  • 3918 Conner Glenn Drive Huntersville, NC 4
    • 4 beds 3 baths ∙ 3,054 Sqft ∙ Built 2004 4 beds 3 baths ∙ 3,054 Sqft ∙ Built 2004
    LEASED 08/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.69
    •  
  • 14726 Baytown Court Huntersville, NC 5
    • 4 beds 4 baths ∙ 2,937 Sqft ∙ Built 2017 4 beds 4 baths ∙ 2,937 Sqft ∙ Built 2017
    LEASED 07/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.80
    •  
PROPERTY LISTING DETAILS
Chris Myatt
1.704.765.6141
Allen Tate Lake Norman
BESbswy