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1003 Dairy Glen Road Indian Trail, NC 28079

4 Beds 3 Baths 2,323 sqft Built 2013

$300,000

List Price

$1,710

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 2013
  • Price/Sqft : $129.14
  • 11 Days on Market
  • MLS # : 3714288
  • Updated Date : 03/12/2021 at 11:50
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,323 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Ballantyne Area

Listing Agent's Description

Your dream home with upgrades galore in highly sought after Fieldstone Farm is finally here! Foyer complete with wainscoting. Oversized Chef's kitchen with island, breakfast area, SS appliances, pantry, granite countertops and custom backsplash. Huge open concept living area with mantle and view of the sprawling backyard oasis. Enormous Master Suite with tray ceiling, walk-in closet and upgraded bath. 3 more large bedrooms. Huge loft/bonus room. Beautiful and private fenced backyard with oversized patio pad. Amazing community with resort-style pool, clubhouse, athletic field and courts, and an active event calendar. Come on HOME.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
 

$270,000$330,000$300,000

PURCHASE PRICE

$1,539$1,881$1,710

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,710
EXPENSES Loan Payment -$1,042
Property Tax -$196
Property Insurance -$70
HOA -$42
Property Management Fees -$119
CASH FLOW
$241

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.

$300,000

PROJECTED PRICE

$1,710

PROJECTED RENT

0.57%

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$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,042

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $75,000
Loan Amount $225,000
See What Happens When You Reinvest Cash Flow

9.75

YEARS SAVED

$42,422

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,710

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $1,830

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,565
1$1,5652$1,7103$1,8004$1,9005$1,945
$1,945
RENT COMPS ANALYSIS
  • 1003 Dairy Glen Road Indian Trail, NC 2
    • 4 beds 3 baths ∙ 2,280 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,280 Sqft ∙ Built 2013
    • Rent
    • Rent Per SQFT
    •  
    • $1,710
    • $0.75
    •  
  • 1012 Green Terra Road Indian Trail, NC 1
    • 4 beds 3 baths ∙ 2,000 Sqft ∙ Built 2010 4 beds 3 baths ∙ 2,000 Sqft ∙ Built 2010
    LEASED 01/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,565
    • $0.78
    •  
  • 4010 Filly Drive Indian Trail, NC 3
    • 4 beds 3 baths ∙ 2,285 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,285 Sqft ∙ Built 2006
    LEASED 06/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.79
    •  
  • 4006 Houndscroft Road Indian Trail, NC 4
    • 3 beds 3 baths ∙ 2,319 Sqft ∙ Built 2015 3 beds 3 baths ∙ 2,319 Sqft ∙ Built 2015
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.82
    •  
  • 4022 Singletree Lane Indian Trail, NC 5
    • 4 beds 3 baths ∙ 2,358 Sqft ∙ Built 2012 4 beds 3 baths ∙ 2,358 Sqft ∙ Built 2012
    LEASED 02/15/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,945
    • $0.82
    •  
PROPERTY LISTING DETAILS
Victoria Kauffman
1.704.999.5931
Keller Williams Ballantyne Area
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3714288
Last Updated: 03/12/2021
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