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9808 Hickory Ridge Road Harrisburg, NC 28075

3 Beds 2 Baths 1,662 sqft Built 2006

$324,900

List Price

$1,500

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

February 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $195.49
  • 7 Days on Market
  • MLS # : 3704119
  • Updated Date : 02/07/2021 at 00:05
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,662 sqft
  • Baths : 2 full
Listing Agent

Chilton Realty And Associates Inc

Listing Agent's Description

Stupendousness! Amazingness! Remarkableness! A whopping 3.37 acres with a 3BR/2BA Ranch home in Harrisburg offered for sale! It sits way back off the road for plenty of privacy. Once you enter, you'll immediately notice the Brazilian oak floors. This open floorplan will delight you when you're able to cook dinner and still visit with everyone else. Large Kitchen with breakfast bar & stainless steel appliances. The ensuite Master is amazing with two walk-in closets, jetted corner tub, and dual sinks. Off the Laundry Room is the icing on the cake: Walk up the stairs to the completely floored, unfinished attic space that runs entire length of the house!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 28075

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $118k318k

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

Zip Code: 28075

ZipNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8441834

* 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
Patriots Elementary School Primary Unknown NA
Hickory Ridge Middle School Middle Unknown NA
Hickory Ridge High School High Regular 1,573 77 7

Patriots Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Hickory Ridge Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Hickory Ridge High School

  • Education Level: High
  • # of students: 1,573
  • # of teachers: 77
7
GreatSchools Rating
 

$292,410$357,390$324,900

PURCHASE PRICE

$1,350$1,650$1,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,500
EXPENSES Loan Payment -$1,129
Property Tax -$220
Property Insurance -$58
Property Management Fees -$119
CASH FLOW
-$26

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.

$324,900

PROJECTED PRICE

$1,500

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 4.8%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$91,849

INVESTMENT

$91,849

Down Payment
$81,225
Rehab Estimate
$5,750
Closing Costs
$4,874

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% 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 $81,225
Loan Amount $243,675
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$18,671

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,500

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,529

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,6253$1,675
$1,675
RENT COMPS ANALYSIS
  • 9808 Hickory Ridge Road Harrisburg, NC 1
    • 3 beds 2 baths ∙ 1,662 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,662 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.90
    •  
  • 3320 Burnage Hall Road Harrisburg, NC 2
    • 4 beds 3 baths ∙ 1,908 Sqft ∙ Built 2005 4 beds 3 baths ∙ 1,908 Sqft ∙ Built 2005
    LEASED 11/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.85
    •  
  • 8439 Magnolia Springs Drive Harrisburg, NC 3
    • 4 beds 3 baths ∙ 1,876 Sqft ∙ Built 2006 4 beds 3 baths ∙ 1,876 Sqft ∙ Built 2006
    LEASED 02/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.89
    •  
PROPERTY LISTING DETAILS
Kim Gandy
1.980.621.9854
Chilton Realty And Associates Inc
BESbswy