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9436 Stately Oak Lane Mint Hill, NC 28227

3 Beds 3 Baths 1,651 sqft Built 1975

$205,000

List Price

$1,370

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

December 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1975
  • Price/Sqft : $124.17
  • 3 Days on Market
  • MLS # : 3690213
  • Updated Date : 12/12/2020 at 20:41
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,651 sqft
  • Baths : 2 full , 1 half
Listing Agent

Dickens Mitchener & Associates Inc

Listing Agent's Description

Welcome home to your charming rocking chair front porch, mature trees and beautiful large backyard. Great 3 bedroom house on cul de sac street in the quiet, no HOA neighborhood of Timber Creek! Sit on your screened porch and enjoy the private back yard! Enjoy the eat in kitchen, dining and living rooms and cozy den/family room with brick surround fireplace. Master bedroom has its own bath and two secondary bedrooms share nice sized hall bath. Priced to sell considering older carpet and interior decor to include wall paper. Bring your ideas and paint brush and make this darling home your own! SELLER HAS RECEIVED MULTIPLE OFFERS AND IS ASKING FOR HIGHEST AND BEST BY 6PM ON 12/13!

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: Mint Hill

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $113k291k

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

Neighborhood: Mint Hill

NeighborhoodNIR 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
J.h. Gunn Elementary School Primary Regular 695 42 2
Albemarle Road Middle School Middle Regular 1,198 64 2
Independence High School High Regular 2,349 128 6

J.h. Gunn Elementary School

  • Education Level: Primary
  • # of students: 695
  • # of teachers: 42
2
GreatSchools Rating

Albemarle Road Middle School

  • Education Level: Middle
  • # of students: 1,198
  • # of teachers: 64
2
GreatSchools Rating

Independence High School

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

$184,500$225,500$205,000

PURCHASE PRICE

$1,233$1,507$1,370

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,370
EXPENSES Loan Payment -$756
Property Tax -$170
Property Insurance -$58
Property Management Fees -$119
CASH FLOW
$267

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.

$205,000

PROJECTED PRICE

$1,370

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 5.2%
Maintenance Year (1-5) 8.00%
Vacancy 6.57%
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$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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$60,075

INVESTMENT

$60,075

Down Payment
$51,250
Rehab Estimate
$5,750
Closing Costs
$3,075

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 25% down payment or higher enables the proceeds from the asset to cover all costs.

$756

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $51,250
Loan Amount $153,750
See What Happens When You Reinvest Cash Flow

11.58

YEARS SAVED

$42,867

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,370

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,362

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,150
1$1,1502$1,1953$1,2494$1,3705$1,388
$1,388
RENT COMPS ANALYSIS
  • 9436 Stately Oak Lane Mint Hill, NC 4
    • 3 beds 3 baths ∙ 1,651 Sqft ∙ Built 1975 3 beds 3 baths ∙ 1,651 Sqft ∙ Built 1975
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,370
    • $0.83
    •  
  • 9614 Fir Knoll Road Mint Hill, NC 1
    • 3 beds 2 baths ∙ 1,385 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,385 Sqft ∙ Built 1977
    property image
    LEASED 10/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $0.83
    •  
  • 5932 Loch Arbor Lane Charlotte, NC 2
    • 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 1987
    property image
    LEASED 10/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $0.82
    •  
  • 6313 Harrisburg Road Charlotte, NC 3
    • 3 beds 2 baths ∙ 1,520 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,520 Sqft ∙ Built 1979
    property image
    LEASED 03/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,249
    • $0.82
    •  
  • 5925 Loch Arbor Lane Mint Hill, NC 5
    • 3 beds 2 baths ∙ 1,858 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,858 Sqft ∙ Built 1987
    property image
    LEASED 01/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,388
    • $0.75
    •  
PROPERTY LISTING DETAILS
Megan Despard
1.704.953.8585
Dickens Mitchener & Associates Inc
BESbswy