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9708 Luckwood Court Mint Hill, NC 28227

4 Beds 3 Baths 2,796 sqft Built 2005

$419,900

List Price

$1,810

$1.6K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $150.18
  • 2 Days on Market
  • MLS # : 3712851
  • Updated Date : 02/27/2021 at 11:06
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,796 sqft
  • Baths : 3 full
Listing Agent

Keller Williams Select

Listing Agent's Description

Don't blink because this beauty will be gone. Be prepared to be wowed! This beautiful home has so much to offer. With it's amazing fenced-in yard with mature trees and blooming plants on a cul-de-sac lot. The oversized two-tiered deck increases outdoor entertaining and function. This beauty boasts an open floor plan, breakfast nook, and stainless steel appliances in the kitchen - you will truly be blown away with this home! The abundance of space on the main level is perfect. It features a family room, dining room, kitchen, and a formal living room that can double as a home office or can even be used for a home school room. The main floor also includes a bedroom with a full bath. Upstairs features a spacious Master with tray ceiling and spa-like bathroom with an extra large-walk in closet. Bonus Room has closet space and plenty of natural light and could easily be used as a 5th bedroom. This home is tucked away in a great community on a spacious lot. Come see it before it's gone!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
Clear Creek Elementary School Primary Regular 647 37 6
Northeast Middle School Middle Regular 739 45 3
Independence High School High Regular 2,349 128 6

Clear Creek Elementary School

  • Education Level: Primary
  • # of students: 647
  • # of teachers: 37
6
GreatSchools Rating

Northeast Middle School

  • Education Level: Middle
  • # of students: 739
  • # of teachers: 45
3
GreatSchools Rating

Independence High School

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

$377,910$461,890$419,900

PURCHASE PRICE

$1,629$1,991$1,810

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,810
EXPENSES Loan Payment -$1,458
Property Tax -$314
Property Insurance -$80
HOA -$11
Property Management Fees -$119
CASH FLOW
-$172

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.

$419,900

PROJECTED PRICE

$1,810

PROJECTED RENT

0.43%

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$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$117,024

INVESTMENT

$117,024

Down Payment
$104,975
Rehab Estimate
$5,750
Closing Costs
$6,299

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,458

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $104,975
Loan Amount $314,925
See What Happens When You Reinvest Cash Flow

3.17

YEARS SAVED

$10,626

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,810

    LIST RENT
  • $0.65

    LIST RENT PER SQFT
  • $1,657

    COMP ESTIMATED VALUE
  • $0.59

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,7353$1,7454$1,8105$1,895
$1,895
RENT COMPS ANALYSIS
  • 9708 Luckwood Court Mint Hill, NC 4
    • 4 beds 3 baths ∙ 2,796 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,796 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,810
    • $0.65
    •  
  • 9143 Magnolia Lily Avenue Charlotte, NC 1
    • 4 beds 3 baths ∙ 2,956 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,956 Sqft ∙ Built 2017
    property image
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.54
    •  
  • 9334 Magnolia Lily Avenue Charlotte, NC 2
    • 4 beds 3 baths ∙ 2,723 Sqft ∙ Built 4 beds 3 baths ∙ 2,723 Sqft ∙ Built
    property image
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,735
    • $0.64
    •  
  • 8909 Gray Willow Road Charlotte, NC 3
    • 4 beds 3 baths ∙ 3,134 Sqft ∙ Built 2011 4 beds 3 baths ∙ 3,134 Sqft ∙ Built 2011
    property image
    LEASED 09/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,745
    • $0.56
    •  
  • 10612 Ebony Tress Lane Mint Hill, NC 5
    • 4 beds 3 baths ∙ 2,920 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,920 Sqft ∙ Built 2017
    property image
    LEASED 01/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.65
    •  
PROPERTY LISTING DETAILS
Tracy Medlin
1.704.226.7371
Keller Williams Select
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3712851
Last Updated: 02/27/2021
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