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10007 Daniel Dwayne Drive Charlotte, NC 28214

3 Beds 2 Baths 1,140 sqft Built 2004

$215,000

List Price

$1,240

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $188.60
  • 5 Days on Market
  • MLS # : 3720006
  • Updated Date : 03/27/2021 at 20:57
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,140 sqft
  • Baths : 2 full
Listing Agent

Exp Realty Llc

Listing Agent's Description

Well maintained (one owner) ranch home featuring spacious kitchen with bar top and separate dining area, ample cabinets and beautiful Samsung stainless steel appliances. Vaulted ceilings in the living area and master bedroom suite gives a more spacious, open feel. Corner gas log fireplace with tile surround, adds a warm and inviting touch. Nicely landscaped yard with quaint and cozy patio area. This home is conveniently located and very close to Hwy 16 and 485 making an easy commute to surrounding areas. New Riverbend Shopping Center close by with lots of shopping and everyday needs such as Harris Teeter, pet store, restaurants, etc. Open House Saturday and Sunday 3/27-28 (11-4).

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: Coulwood West

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230kPrice in $104k235k

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

Neighborhood: Coulwood West

NeighborhoodNIR Market*CityMarket2010Year20002019 Q280085090095010001050110011501200125013001350140014501500Rent in $7871518

* 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
River Oaks Academy Primary Regular 611 36 5
Coulwood Middle School Middle Regular 694 45 7
West Mecklenburg High School High Regular 2,040 108 1

River Oaks Academy

  • Education Level: Primary
  • # of students: 611
  • # of teachers: 36
5
GreatSchools Rating

Coulwood Middle School

  • Education Level: Middle
  • # of students: 694
  • # of teachers: 45
7
GreatSchools Rating

West Mecklenburg High School

  • Education Level: High
  • # of students: 2,040
  • # of teachers: 108
1
GreatSchools Rating
 

$193,500$236,500$215,000

PURCHASE PRICE

$1,116$1,364$1,240

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,240
EXPENSES Loan Payment -$747
Property Tax -$187
Property Insurance -$48
HOA -$8
Property Management Fees -$119
CASH FLOW
$130

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.

$215,000

PROJECTED PRICE

$1,240

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 8.1%
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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$62,725

INVESTMENT

$62,725

Down Payment
$53,750
Rehab Estimate
$5,750
Closing Costs
$3,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$747

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $53,750
Loan Amount $161,250
See What Happens When You Reinvest Cash Flow

8.17

YEARS SAVED

$22,801

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,240

    LIST RENT
  • $1.12

    LIST RENT PER SQFT
  • $1,078

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,195
1$1,1952$1,2403$1,2504$1,2995$1,395
$1,395
RENT COMPS ANALYSIS
  • 10007 Daniel Dwayne Drive Charlotte, NC 2
    • 3 beds 2 baths ∙ 1,108 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,108 Sqft ∙ Built 2004
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,240
    • $1.12
    •  
  • 800 Mt Holly Huntersville Road Charlotte, NC 1
    • 3 beds 2 baths ∙ 1,259 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,259 Sqft ∙ Built 1955
    property image
    LEASED 07/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $0.95
    •  
  • 1708 Silverberry Court Charlotte, NC 3
    • 3 beds 2 baths ∙ 1,259 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,259 Sqft ∙ Built 1996
    property image
    LEASED 01/14/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.99
    •  
  • 1613 Bear Brook Drive Charlotte, NC 4
    • 3 beds 2 baths ∙ 1,311 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,311 Sqft ∙ Built 1997
    property image
    LEASED 11/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,299
    • $0.99
    •  
  • 128 Woodlynn Drive Charlotte, NC 5
    • 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 1959
    property image
    LEASED 12/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.96
    •  
PROPERTY LISTING DETAILS
Connie Ward
1.704.905.1395
Exp Realty Llc
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3720006
Last Updated: 03/27/2021
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