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

8925 Hambright Road Huntersville, NC 28078

3 Beds 2 Baths 1,104 sqft Built 1982

$215,000

List Price

$1,190

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

November 01, 2020 RECENTLY ADDED
FACTS
  • Built In 1982
  • Price/Sqft : $194.75
  • 3 Days on Market
  • MLS # : 3676683
  • Updated Date : 11/01/2020 at 10:44
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,104 sqft
  • Baths : 1 full , 1 half
Listing Agent

Wilkinson Era Real Estate

Listing Agent's Description

Very well maintained one level ranch home on large corner lot, one owner for the last 37 years, wooded, road frontage. Convenient location provides easy access to shopping and restaurants. Do not miss this opportunity, this one will not last long!!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
Torrence Creek Elementary School Primary Regular 483 28 8
Francis Bradley Middle School Middle Regular 1,140 59 6
Hopewell High School High Regular 1,653 87 3

Torrence Creek Elementary School

  • Education Level: Primary
  • # of students: 483
  • # of teachers: 28
8
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
 

$193,500$236,500$215,000

PURCHASE PRICE

$1,071$1,309$1,190

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,190
EXPENSES Loan Payment -$793
Property Tax -$173
Property Insurance -$48
Property Management Fees -$107
CASH FLOW
$69

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.

$215,000

PROJECTED PRICE

$1,190

PROJECTED RENT

0.55%

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$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$62,725

INVESTMENT

$62,725

Down Payment
$53,750
Rehab Estimate
$5,750
Closing Costs
$3,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$793

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $53,750
Loan Amount $161,250
See What Happens When You Reinvest Cash Flow

6.42

YEARS SAVED

$19,393

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,190

    LIST RENT
  • $1.08

    LIST RENT PER SQFT
  • $1,154

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$1,190
1$1,1902$1,3003$1,4004$1,4005$1,449
$1,449
RENT COMPS ANALYSIS
  • 8925 Hambright Road Huntersville, NC 1
    • 3 beds 2 baths ∙ 1,104 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,104 Sqft ∙ Built 1982
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,190
    • $1.08
    •  
  • 7907 Baylis Drive Huntersville, NC 2
    • 3 beds 3 baths ∙ 1,326 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,326 Sqft ∙ Built 2002
    property image
    LEASED 11/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.98
    •  
  • 13129 Windy Lea Lane Huntersville, NC 3
    • 3 beds 3 baths ∙ 1,302 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,302 Sqft ∙ Built 2006
    property image
    LEASED 05/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.08
    •  
  • 13135 Windy Lea Lane Huntersville, NC 4
    • 3 beds 3 baths ∙ 1,400 Sqft ∙ Built 2008 3 beds 3 baths ∙ 1,400 Sqft ∙ Built 2008
    property image
    LEASED 06/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.00
    •  
  • 7026 Mclothian Lane Huntersville, NC 5
    • 3 beds 3 baths ∙ 1,440 Sqft ∙ Built 2013 3 beds 3 baths ∙ 1,440 Sqft ∙ Built 2013
    property image
    LEASED 12/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,449
    • $1.01
    •  
PROPERTY LISTING DETAILS
Robin Ford
1.704.425.0813
Wilkinson Era Real Estate
BESbswy