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9833 Hanging Moss Trail Mint Hill, NC 28227

4 Beds 3 Baths 2,610 sqft Built 1996

$419,900

List Price

$2,020

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $160.88
  • 6 Days on Market
  • MLS # : 3715814
  • Updated Date : 03/20/2021 at 00:05
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,610 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Ballantyne Area

Listing Agent's Description

Stunning Meticulously Maintained Home Ready For New Owner! If A Few Boxes Around Don't Bother You Come And Enjoy Viewing Your New Home! Private Setting, Wooded Lot, Fenced Yard. Updated Kitchen W/Granite Counters, Tile Backsplash, New Stove & Microwave. Refrigerator Remains. Many Updates Within Last 6 Years, Heat, AC, Water Heater, Dishwasher, Carpeting, Luxury Laminate Wood Flooring. New Roof 2011. Large Bonus Room W/Closet. Luxurious Master Bath W/ Dressing Area, Garden Tub, New Vanity W/Granite and Separate Walk In Shower, Tile Floor, Walk In Closet. Great Room Boasts Gas Log Fireplace, Living Room W/French Doors. Large Wooded Lot Provides Much Privacy. Seller Providing 13 Month Home Buyers Warranty. FOLLOW COVID GUIDELINES-MASK,ETC.

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
Bain Elementary School Primary Regular 899 49 10
Mint Hill Middle School Middle Regular 1,249 64 5
Independence High School High Regular 2,349 128 6

Bain Elementary School

  • Education Level: Primary
  • # of students: 899
  • # of teachers: 49
10
GreatSchools Rating

Mint Hill Middle School

  • Education Level: Middle
  • # of students: 1,249
  • # of teachers: 64
5
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

$1,818$2,222$2,020

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,020
EXPENSES Loan Payment -$1,458
Property Tax -$337
Property Insurance -$76
HOA -$8
Property Management Fees -$119
CASH FLOW
$21

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

$2,020

PROJECTED RENT

0.48%

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$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$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 45% 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

5.33

YEARS SAVED

$23,831

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,020

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $1,984

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,8003$2,0204$2,075
$2,075
RENT COMPS ANALYSIS
  • 9833 Hanging Moss Trail Mint Hill, NC 3
    • 4 beds 3 baths ∙ 2,610 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,610 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $2,020
    • $0.77
    •  
  • 6814 Long Road Mint Hill, NC 1
    • 3 beds 3 baths ∙ 2,400 Sqft ∙ Built 1958 3 beds 3 baths ∙ 2,400 Sqft ∙ Built 1958
    LEASED 09/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.66
    •  
  • 9525 Brief Road Charlotte, NC 2
    • 3 beds 3 baths ∙ 2,519 Sqft ∙ Built 1968 3 beds 3 baths ∙ 2,519 Sqft ∙ Built 1968
    LEASED 10/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.71
    •  
  • 7505 Fairway Mist Court Mint Hill, NC 4
    • 4 beds 2 baths ∙ 2,278 Sqft ∙ Built 1999 4 beds 2 baths ∙ 2,278 Sqft ∙ Built 1999
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,075
    • $0.91
    •  
PROPERTY LISTING DETAILS
Brenda Hester
1.704.576.5772
Keller Williams Ballantyne Area
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3715814
Last Updated: 03/20/2021
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