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9905 Holly Tree Drive Charlotte, NC 28215

3 Beds 2 Baths 1,730 sqft Built 1987

$295,000

List Price

$1,410

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $170.52
  • 5 Days on Market
  • MLS # : 3712370
  • Updated Date : 03/05/2021 at 17:22
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,730 sqft
  • Baths : 2 full
Listing Agent

First Investor Realty & Management

Listing Agent's Description

Fantastic renovated home in desirable neighborhood. This home has just been upgraded with granite countertops, painted cabinets, luxury vinyl plank flooring, new carpet, light fixtures, glass and tile backsplash, etc. Perfect for a growing family. Spacious treed back yard. Relax on your rear screened porch. Vaulted ceilings. Fireplace in dining/kitchen area is a real show stopper. Pull down projector screen over the fireplace. No value given to solar panels. Home is located around the corner from Brookdale Commons, right of I-485. Close to shopping, schools and interstates. This is a gem of a home nestled in a nice, well-established neighborhood. Don't miss out.

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: Cabarrus Woods

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300kPrice in $84k318k

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

Neighborhood: Cabarrus Woods

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500160017001800Rent in $7461809

* 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
 

$265,500$324,500$295,000

PURCHASE PRICE

$1,269$1,551$1,410

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,410
EXPENSES Loan Payment -$1,025
Property Tax -$161
Property Insurance -$60
Property Management Fees -$119
CASH FLOW
$45

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.

$295,000

PROJECTED PRICE

$1,410

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 7.6%
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$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$83,925

INVESTMENT

$83,925

Down Payment
$73,750
Rehab Estimate
$5,750
Closing Costs
$4,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,025

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $73,750
Loan Amount $221,250
See What Happens When You Reinvest Cash Flow

6.67

YEARS SAVED

$23,500

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,410

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $1,535

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,4103$1,4454$1,4495$1,700
$1,700
RENT COMPS ANALYSIS
  • 9905 Holly Tree Drive Charlotte, NC 2
    • 3 beds 2 baths ∙ 1,730 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,730 Sqft ∙ Built 1987
    • Rent
    • Rent Per SQFT
    •  
    • $1,410
    • $0.82
    •  
  • 10414 Starwood Drive Charlotte, NC 1
    • 4 beds 3 baths ∙ 1,548 Sqft ∙ Built 1983 4 beds 3 baths ∙ 1,548 Sqft ∙ Built 1983
    LEASED 05/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.90
    •  
  • 4026 Wilgrove Way Drive Charlotte, NC 3
    • 3 beds 3 baths ∙ 1,666 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,666 Sqft ∙ Built 2002
    LEASED 08/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,445
    • $0.87
    •  
  • 5423 River Falls Drive Charlotte, NC 4
    • 3 beds 2 baths ∙ 1,629 Sqft ∙ Built 3 beds 2 baths ∙ 1,629 Sqft ∙ Built
    LEASED 04/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,449
    • $0.89
    •  
  • 13111 David Jennings Avenue Charlotte, NC 5
    • 3 beds 2 baths ∙ 2,012 Sqft ∙ Built 2013 3 beds 2 baths ∙ 2,012 Sqft ∙ Built 2013
    LEASED 06/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.84
    •  
PROPERTY LISTING DETAILS
Stephen Maginnis
1.704.773.0907
First Investor Realty & Management
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3712370
Last Updated: 03/05/2021
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