Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

10017 Sardis Oaks Road Charlotte, NC 28270

3 Beds 3 Baths 1,833 sqft Built 1975

$325,000

List Price

$1,480

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1975
  • Price/Sqft : $177.30
  • 4 Days on Market
  • MLS # : 3704577
  • Updated Date : 02/05/2021 at 17:07
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,833 sqft
  • Baths : 2 full , 1 half
Listing Agent

Dickens Mitchener & Associates Inc

Listing Agent's Description

***MULTIPLE OFFERS Received*** - HIGHEST & BEST BY 8PM SAT. This 2-story Sardis Oaks property was completely updated in 2016 from top to bottom! Including all new appliances (Whirlpool & GE), flooring (durable Luxury Vinyl Plank), plush carpeting and fresh neutral paint. Kitchen & Bathrooms all have new cabinetry & fixtures with quartz or marble counter tops. Additionally, new roof and HVAC units installed in 2016. Large Great Room opens to spacious Kitchen/Breakfast area featuring stainless steel appliances, contemporary lighting and a beautiful picturesque window that over-looks the flat, grassy backyard. Three bedrooms located upstairs w/two full baths and spacious landing area. Master is generously sized with its own ensuite Bathroom. Third bedroom is currently set-up as in-home office and workout room. Property is conveniently located in neighborhood with easy access to Sardis Rd North, & only minutes from South Park area. There is nothing left to be done but move in! Must see!!!

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: Sardis Woods

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $110k318k

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

Neighborhood: Sardis Woods

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8441809

* 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
Greenway Park Elementary School Primary Regular 605 38 3
Mcclintock Middle School Middle Regular 855 55 3
East Mecklenburg High School High Regular 1,840 111 6

Greenway Park Elementary School

  • Education Level: Primary
  • # of students: 605
  • # of teachers: 38
3
GreatSchools Rating

Mcclintock Middle School

  • Education Level: Middle
  • # of students: 855
  • # of teachers: 55
3
GreatSchools Rating

East Mecklenburg High School

  • Education Level: High
  • # of students: 1,840
  • # of teachers: 111
6
GreatSchools Rating
 

$292,500$357,500$325,000

PURCHASE PRICE

$1,332$1,628$1,480

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,480
EXPENSES Loan Payment -$1,129
Property Tax -$283
Property Insurance -$62
Property Management Fees -$119
CASH FLOW
-$113

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.

$325,000

PROJECTED PRICE

$1,480

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 7.9%
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-$4.0k-$2.0k$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$91,875

INVESTMENT

$91,875

Down Payment
$81,250
Rehab Estimate
$5,750
Closing Costs
$4,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,129

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $81,250
Loan Amount $243,750
See What Happens When You Reinvest Cash Flow

3.83

YEARS SAVED

$11,415

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,480

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $1,503

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,4803$1,5954$1,6755$1,700
$1,700
RENT COMPS ANALYSIS
  • 10017 Sardis Oaks Road Charlotte, NC 2
    • 3 beds 3 baths ∙ 1,833 Sqft ∙ Built 1975 3 beds 3 baths ∙ 1,833 Sqft ∙ Built 1975
    • Rent
    • Rent Per SQFT
    •  
    • $1,480
    • $0.81
    •  
  • 9801 Ordway Court Charlotte, NC 1
    • 3 beds 2 baths ∙ 1,693 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,693 Sqft ∙ Built 1976
    LEASED 05/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.77
    •  
  • 9635 Watergate Road Charlotte, NC 3
    • 4 beds 3 baths ∙ 1,959 Sqft ∙ Built 1977 4 beds 3 baths ∙ 1,959 Sqft ∙ Built 1977
    LEASED 09/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.81
    •  
  • 8237 Brynmar Drive Charlotte, NC 4
    • 3 beds 3 baths ∙ 1,990 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,990 Sqft ∙ Built 1988
    LEASED 03/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.84
    •  
  • 713 Hammermill Court Charlotte, NC 5
    • 4 beds 3 baths ∙ 1,988 Sqft ∙ Built 1978 4 beds 3 baths ∙ 1,988 Sqft ∙ Built 1978
    LEASED 12/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.86
    •  
PROPERTY LISTING DETAILS
Sherry George
1.704.968.5322
Dickens Mitchener & Associates Inc
BESbswy