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1002 Yellow Bee Road Indian Trail, NC 28079

4 Beds 3 Baths 2,545 sqft Built 2008

$330,000

List Price

$1,630

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2008
  • Price/Sqft : $129.67
  • 5 Days on Market
  • MLS # : 3704945
  • Updated Date : 02/06/2021 at 14:31
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,545 sqft
  • Baths : 2 full , 1 half
Listing Agent

Sa Carolinas Realty Inc

Listing Agent's Description

Great house in fabulous condition, clean, spacious, 4-bedroom home with additional and functional loft area upatairs on a corner lot. This is a great and amazing community with fabulous neighbors and resort-style amenities to enjoy, including a community clubhouse, pool, soccer field and basketball court. Please Adhere to all Covid-19 CDC Guidlines, Wear Masks. Professional Measurements and Photos coming later.

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

Zip Code: 28079

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $118k318k

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

Zip Code: 28079

ZipNIR 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
Poplin Elementary School Primary Regular 719 40 7
Porter Ridge Middle School Middle Regular 1,385 72 7
Porter Ridge High School High Regular 1,591 77 7

Poplin Elementary School

  • Education Level: Primary
  • # of students: 719
  • # of teachers: 40
7
GreatSchools Rating

Porter Ridge Middle School

  • Education Level: Middle
  • # of students: 1,385
  • # of teachers: 72
7
GreatSchools Rating

Porter Ridge High School

  • Education Level: High
  • # of students: 1,591
  • # of teachers: 77
7
GreatSchools Rating
 

$297,000$363,000$330,000

PURCHASE PRICE

$1,467$1,793$1,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,630
EXPENSES Loan Payment -$1,146
Property Tax -$216
Property Insurance -$75
HOA -$42
Property Management Fees -$119
CASH FLOW
$32

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.

$330,000

PROJECTED PRICE

$1,630

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 6.3%
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$16k

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$93,200

INVESTMENT

$93,200

Down Payment
$82,500
Rehab Estimate
$5,750
Closing Costs
$4,950

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,146

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $82,500
Loan Amount $247,500
See What Happens When You Reinvest Cash Flow

6.25

YEARS SAVED

$23,413

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,630

    LIST RENT
  • $0.64

    LIST RENT PER SQFT
  • $1,762

    COMP ESTIMATED VALUE
  • $0.69

    COMP AVG. RENT PER SQFT
Comps Range
$1,630
1$1,6302$1,6453$1,7004$1,7505$1,945
$1,945
RENT COMPS ANALYSIS
  • 1002 Yellow Bee Road Indian Trail, NC 1
    • 4 beds 3 baths ∙ 2,545 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,545 Sqft ∙ Built 2008
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,630
    • $0.64
    •  
  • 1022 Yellow Bee Road Indian Trail, NC 2
    • 4 beds 3 baths ∙ 2,341 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,341 Sqft ∙ Built 2007
    property image
    LEASED 01/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,645
    • $0.70
    •  
  • 1003 Garden Web Road Indian Trail, NC 3
    • 4 beds 2 baths ∙ 2,424 Sqft ∙ Built 2012 4 beds 2 baths ∙ 2,424 Sqft ∙ Built 2012
    property image
    LEASED 10/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.70
    •  
  • 1012 Yellow Bee Road Indian Trail, NC 4
    • 4 beds 3 baths ∙ 2,716 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,716 Sqft ∙ Built 2007
    property image
    LEASED 03/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.64
    •  
  • 3003 Filly Drive Indian Trail, NC 5
    • 5 beds 4 baths ∙ 2,654 Sqft ∙ Built 2005 5 beds 4 baths ∙ 2,654 Sqft ∙ Built 2005
    property image
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,945
    • $0.73
    •  
PROPERTY LISTING DETAILS
Alex Salazar
1.704.907.7189
Sa Carolinas Realty Inc
BESbswy