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9635 Hyghbough Street Huntersville, NC 28078

4 Beds 3 Baths 2,640 sqft Built 2016

INVESTimate

$355,000

List Price

$2,030

$1,827 - $2,233

Rent Est.

$374,241  ( +5.42%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 2016
  • Price/Sqft : $134.47
  • 5 Days on Market
  • MLS # : 3654595
  • Updated Date : 08/25/2020 at 13:54
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,640 sqft
  • Baths : 2 full , 1 half
Listing Agent

Southern Homes Of The Carolinas

Listing Agent's Description

TRUELY MOVE IN READY with master on the main! Master bedroom offers spacious, private suite with trey ceilings accented with detailed molding. Master bath has double vanity, garden tub, tile shower and large walk-in closet. Gourmet kitchen has beautiful granite, gas range, huge island and gorgeous updated light fixtures. Upper level offers spacious bedrooms (3) with huge loft area and full bath. Backyard is newly fenced with covered patio. Large 2 car garage with lots of storage area. Community features swimming pool and playground just steps up the street. Located minutes from Birkdale Village, interstates and schools. No showings until 8/25. Photos should be ready by 8/26

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
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
 

$319,500$390,500$355,000

PURCHASE PRICE

$1,827$2,233$2,030

RENT

DOWN PAYMENT
FINANCING

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$1.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,030
EXPENSES Loan Payment -$1,310
Property Tax -$314
Property Insurance -$77
HOA -$59
Property Management Fees -$183
CASH FLOW
$88

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.

$355,000

PROJECTED PRICE

$2,030

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 5.42%
Maintenance Year (1-5) 8.00%
Vacancy 6.31%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$99,825

INVESTMENT

$99,825

Down Payment
$88,750
Rehab Estimate
$5,750
Closing Costs
$5,325

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,310

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $88,750
Loan Amount $266,250
See What Happens When You Reinvest Cash Flow

5.83

YEARS SAVED

$28,464

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,030

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $1,874

    COMP ESTIMATED VALUE
  • $0.71

    COMP AVG. RENT PER SQFT
Comps Range
$1,745
1$1,7452$1,8953$1,9154$1,9505$2,030
$2,030
RENT COMPS ANALYSIS
  • 9635 Hyghbough Street Huntersville, NC 5
    • 4 beds 3 baths ∙ 2,640 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,640 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $2,030
    • $0.77
    •  
  • 12501 Hawks Ridge Road Huntersville, NC 1
    • 4 beds 3 baths ∙ 2,680 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,680 Sqft ∙ Built 1990
    LEASED 11/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,745
    • $0.65
    •  
  • 13101 Angel Oak Drive Huntersville, NC 2
    • 4 beds 3 baths ∙ 2,680 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,680 Sqft ∙ Built 1991
    LEASED 06/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.71
    •  
  • 15101 Chilgrove Lane Huntersville, NC 3
    • 4 beds 3 baths ∙ 2,571 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,571 Sqft ∙ Built 1990
    LEASED 10/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,915
    • $0.74
    •  
  • 12512 Angel Oak Drive Huntersville, NC 4
    • 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
Patty Register
1.704.968.6391
Southern Homes Of The Carolinas
BESbswy