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00000 Wooded Saddle None #19 Charlotte, NC 28216

4 Beds 3 Baths 2,731 sqft Built 2020

$409,990

List Price

$1,910

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
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

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

Neighborhood: Mountain Island

NeighborhoodNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $113k241k

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

Neighborhood: Mountain Island

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8421617

* 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
Mountain Island Lake Academy Primary Regular 727 47 3
Hopewell High School High Regular 1,653 87 3

Mountain Island Lake Academy

  • Education Level: Primary
  • # of students: 727
  • # of teachers: 47
3
GreatSchools Rating

Hopewell High School

  • Education Level: High
  • # of students: 1,653
  • # of teachers: 87
3
GreatSchools Rating
 

$368,991$450,989$409,990

PURCHASE PRICE

$1,719$2,101$1,910

RENT

DOWN PAYMENT
FINANCING

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

ASSUMPTIONS

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
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$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$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$110,647

INVESTMENT

$110,647

Down Payment
$102,498
Rehab Estimate
$2,000
Closing Costs
$6,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,424

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $102,498
Loan Amount $307,493
See What Happens When You Reinvest Cash Flow

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
$1,595
1$1,5952$1,7753$1,7754$1,9005$1,910
$1,910
RENT COMPS ANALYSIS
  • 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
Grady Thomas
1.704.608.8575
Thomas Property Group, Inc.
BESbswy