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

9008 New Oak Lane Huntersville, NC 28078

3 Beds 2 Baths 1,868 sqft Built 1990

$325,000

List Price

$1,570

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $173.98
  • 4 Days on Market
  • MLS # : 3673580
  • Updated Date : 02/12/2021 at 07:44
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,868 sqft
  • Baths : 2 full
Listing Agent

Puma & Associates Realty, Inc.

Listing Agent's Description

Must see ranch in Cedarfield! Great curb appeal w/ covered front porch! Sought after one story living w/ open floor plan! Spacious great room w/ wood burning fireplace. Kitchen w/ stainless steel appliances, granite counters, gas cooktop, double oven & pantry. Formal dining room w/ vaulted ceiling & tons of natural light. Elegant owners retreat w/ tray ceiling & walk in closet. En-suite bath w/ dual vanity, shower & separate soaking tub. Spacious secondary bedrooms, bathroom & laundry complete the home. Peaceful & private backyard w/ mature trees. Deck is perfect for grilling & entertaining! Enjoy community features including club house, playground & pool! Great Huntersville location! Close to schools, restaurants & shopping! Easy access to I-77 & I-485!

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: Cedarfield

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $118k318k

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

Neighborhood: Cedarfield

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
 

$292,500$357,500$325,000

PURCHASE PRICE

$1,413$1,727$1,570

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,570
EXPENSES Loan Payment -$1,129
Property Tax -$261
Property Insurance -$62
HOA -$90
Property Management Fees -$119
CASH FLOW
-$91

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.

$325,000

PROJECTED PRICE

$1,570

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 6.4%
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

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$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$91,875

INVESTMENT

$91,875

Down Payment
$81,250
Rehab Estimate
$5,750
Closing Costs
$4,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,129

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $81,250
Loan Amount $243,750
See What Happens When You Reinvest Cash Flow

4.08

YEARS SAVED

$12,256

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,570

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,644

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,5703$1,6504$1,6955$1,799
$1,799
RENT COMPS ANALYSIS
  • 9008 New Oak Lane Huntersville, NC 2
    • 3 beds 2 baths ∙ 1,868 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,868 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $1,570
    • $0.84
    •  
  • 12015 Henderson Hill Road Huntersville, NC 1
    • 4 beds 3 baths ∙ 1,800 Sqft ∙ Built 1994 4 beds 3 baths ∙ 1,800 Sqft ∙ Built 1994
    LEASED 02/10/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.86
    •  
  • 9215 Hillston Ridge Road Huntersville, NC 3
    • 3 beds 2 baths ∙ 1,765 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,765 Sqft ∙ Built 2000
    LEASED 02/05/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.93
    •  
  • 13207 Meadowmere Road Huntersville, NC 4
    • 3 beds 3 baths ∙ 1,954 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,954 Sqft ∙ Built 2003
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.87
    •  
  • 8601 Cedar Hollow Lane Huntersville, NC 5
    • 3 beds 2 baths ∙ 2,095 Sqft ∙ Built 1993 3 beds 2 baths ∙ 2,095 Sqft ∙ Built 1993
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,799
    • $0.86
    •  
PROPERTY LISTING DETAILS
Phil Puma
1.704.375.2495
Puma & Associates Realty, Inc.
BESbswy