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9602 Gilead Grove Road Huntersville, NC 28078

3 Beds 3 Baths 2,522 sqft Built 2007

$320,000

List Price

$1,730

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

January 02, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $126.88
  • 2 Days on Market
  • MLS # : 3694843
  • Updated Date : 01/02/2021 at 12:42
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,522 sqft
  • Baths : 2 full , 1 half
Listing Agent

Allen Hughes Realty, Inc

Listing Agent's Description

Perfect for entertaining due to its open floor plan and many amenities from the Great Room opening to the Kitchen, to the covered rear patio with grilling station already built and awaiting your Big Green Egg and Beer Tap. Light flows through the interior, making the home airy and bright. The spacious Great Room's gas fireplace is perfect for colder days, while the covered patio with bar area and private fenced yard is perfect for summer entertaining fun. Use your imagination with the Bonus Room to make it the space of your dreams, be it a Billiards area, play room or exercise room. After a day of fun filled entertaining, relax in your master retreat complete with tray ceiling, garden tub, walk in closet and The home is located in a sought after neighborhood in Huntersville, convenient to shopping, parks, restaurants, Charlotte, & I-77. Welcome to your gorgeous amenity filled home at 9602 Gilead Grove Road!

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: 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
 

$288,000$352,000$320,000

PURCHASE PRICE

$1,557$1,903$1,730

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,730
EXPENSES Loan Payment -$1,181
Property Tax -$268
Property Insurance -$75
HOA -$29
Property Management Fees -$119
CASH FLOW
$58

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.

$320,000

PROJECTED PRICE

$1,730

PROJECTED RENT

0.54%

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

PROJECTED ANNUAL CASH FLOW

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

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$90,550

INVESTMENT

$90,550

Down Payment
$80,000
Rehab Estimate
$5,750
Closing Costs
$4,800

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,181

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $80,000
Loan Amount $240,000
See What Happens When You Reinvest Cash Flow

6.58

YEARS SAVED

$29,652

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,730

    LIST RENT
  • $0.69

    LIST RENT PER SQFT
  • $1,765

    COMP ESTIMATED VALUE
  • $0.7

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,7003$1,7304$1,8455$1,950
$1,950
RENT COMPS ANALYSIS
  • 9602 Gilead Grove Road Huntersville, NC 3
    • 3 beds 3 baths ∙ 2,522 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,522 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $1,730
    • $0.69
    •  
  • 9224 Agnes Park Lane Huntersville, NC 1
    • 3 beds 3 baths ∙ 2,507 Sqft ∙ Built 1990 3 beds 3 baths ∙ 2,507 Sqft ∙ Built 1990
    LEASED 04/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.64
    •  
  • 14427 Laurel Tree Lane Huntersville, NC 2
    • 4 beds 3 baths ∙ 2,469 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,469 Sqft ∙ Built 2003
    LEASED 01/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.69
    •  
  • 9433 Culcairn Road Huntersville, NC 4
    • 4 beds 3 baths ∙ 2,515 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,515 Sqft ∙ Built 1997
    LEASED 03/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,845
    • $0.73
    •  
  • 12512 Angel Oak Drive Huntersville, NC 5
    • 4 beds 3 baths ∙ 2,625 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,625 Sqft ∙ Built 1991
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.74
    •  
PROPERTY LISTING DETAILS
Johnny Allen
1.704.591.0126
Allen Hughes Realty, Inc
BESbswy