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PROPERTY INFO
FACTS
- Single Family
- Built In 2020
- Price/Sqft : $150.12
- 65 Days on Market
- MLS # : 3680441
- Updated Date : 12/17/2020 at 06:10
CONSTRUCTION
- Beds : 4
- Floor Size : 2,731 sqft
- Baths : 2 full , 1 half
Listing Agent
Thomas Property Group, Inc.
Listing Agent's Description
NEW COMMUNITY - MOUNTAIN GLEN...Under Construction: The Beverly - Modern Farmhouse model - will be completed early Spring 2021. Large Open Concept living...great for entertaining! Laminate hardwoods on main are a standard feature in this home & upgraded painted cabinetry will add to your Modern Farmhouse feel. Granite countertops, crown molding & tile backsplash will enhance your kitchen. Second floor bedrooms spaced for privacy, all convenient to laundry room. Plenty of storage too! Large Master suite includes private garden tub & separate tiled shower; walk-in closet, tray ceiling...all standard features! Very large lots partially surrounded by undisturbed natural area...all with Low HOA! Call us for appointment to plan for your future home!
SEE MORE
- 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
Neighborhood: Mountain Island
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Mountain Island
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,910 |
| EXPENSES | Loan Payment | -$1,424 |
| Property Tax | -$386 | |
| Property Insurance | -$79 | |
| HOA | -$58 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
-$156
|
||
This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.
$409,990
PROJECTED PRICE
$1,910
PROJECTED RENT
0.47%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 2.98% |
| Appreciation Year (1-5) | 3.7% |
| Maintenance Year (1-5) | 3.00% |
| Vacancy | 6.57% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$110,647
LOAN DETAILS
$1,424
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $102,498 |
| Loan Amount | $307,493 |
3.08
YEARS SAVED
$9,858
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,910
LIST RENT -
$0.7
LIST RENT PER SQFT
-
$1,919
COMP ESTIMATED VALUE -
$0.7
COMP AVG. RENT PER SQFT
Comps Range
-
00000 Wooded Saddle None Charlotte, NC 5
- 4 beds 3 baths ∙ 2,731 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,731 Sqft ∙ Built 2020
![property image]()
- Rent
- Rent Per SQFT
- $1,910
- $0.70
-
9540 Brighthaven Lane Charlotte, NC 1
- 3 beds 3 baths ∙ 2,430 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,430 Sqft ∙ Built 2006
![property image]()
LEASED 03/27/20- Rent
- Rent Per SQFT
- $1,595
- $0.66
-
2026 Mountain Park Drive Charlotte, NC 2
- 5 beds 3 baths ∙ 2,530 Sqft ∙ Built 2001 5 beds 3 baths ∙ 2,530 Sqft ∙ Built 2001
![property image]()
LEASED 09/06/19- Rent
- Rent Per SQFT
- $1,775
- $0.70
-
10931 Chastain Parc Drive Charlotte, NC 3
- 3 beds 3 baths ∙ 2,400 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,400 Sqft ∙ Built 2003
![property image]()
LEASED 11/05/20- Rent
- Rent Per SQFT
- $1,775
- $0.74
-
2036 Mountain Park Drive Charlotte, NC 4
- 5 beds 4 baths ∙ 2,566 Sqft ∙ Built 2001 5 beds 4 baths ∙ 2,566 Sqft ∙ Built 2001
![property image]()
LEASED 09/01/20- Rent
- Rent Per SQFT
- $1,900
- $0.74
PROPERTY LISTING DETAILS
1.704.608.8575
Thomas Property Group, Inc.
