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10038 Goose Landing Drive Charlotte, NC 28269

3 Beds 2 Baths 2,553 sqft Built 2014

$310,000

List Price

$1,680

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

December 01, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $121.43
  • 6 Days on Market
  • MLS # : 3687277
  • Updated Date : 12/05/2020 at 10:14
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,553 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Ballantyne Area

Listing Agent's Description

Here's the home you have been waiting for 3 Bedroom/ 2 bath home in excellent condition! ONLY ONE OWNER Some of the key features of this home are Master on main level, Granite countertops, plantation shutters, garage with side entry door, lots of closet space, newer oven (2020), oversized deck and brick grill, retractable awning as well. There is an upstairs loft/living space. All TVs and mounts stay. Must see- this property will not last long! Conveniently located within walking distance to Clarks Creek Park and Nature Preserve. Park features include New Basketball and Pickle Ball Courts, Water Park, Playground and Doggie Park. LOCATION, LOCATION,LOCATION

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

Neighborhood: Davis Lake - Eastfield

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $116k318k

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

Neighborhood: Davis Lake - Eastfield

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
Croft Community School Primary Regular 644 35 NA
J.m. Alexander Middle School Middle Regular 865 40 4
North Mecklenburg High School High Regular 1,881 101 3

Croft Community School

  • Education Level: Primary
  • # of students: 644
  • # of teachers: 35
NA
GreatSchools Rating

J.m. Alexander Middle School

  • Education Level: Middle
  • # of students: 865
  • # of teachers: 40
4
GreatSchools Rating

North Mecklenburg High School

  • Education Level: High
  • # of students: 1,881
  • # of teachers: 101
3
GreatSchools Rating
 

$279,000$341,000$310,000

PURCHASE PRICE

$1,512$1,848$1,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,680
EXPENSES Loan Payment -$1,144
Property Tax -$295
Property Insurance -$75
HOA -$33
Property Management Fees -$119
CASH FLOW
$14

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.

$310,000

PROJECTED PRICE

$1,680

PROJECTED RENT

0.54%

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$87,900

INVESTMENT

$87,900

Down Payment
$77,500
Rehab Estimate
$5,750
Closing Costs
$4,650

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,144

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $77,500
Loan Amount $232,500
See What Happens When You Reinvest Cash Flow

5.75

YEARS SAVED

$23,763

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,680

    LIST RENT
  • $0.66

    LIST RENT PER SQFT
  • $1,711

    COMP ESTIMATED VALUE
  • $0.67

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,6803$1,7254$1,7455$1,750
$1,750
RENT COMPS ANALYSIS
  • 10038 Goose Landing Drive Charlotte, NC 2
    • 3 beds 2 baths ∙ 2,553 Sqft ∙ Built 2014 3 beds 2 baths ∙ 2,553 Sqft ∙ Built 2014
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $0.66
    •  
  • 4602 Canipe Drive Charlotte, NC 1
    • 3 beds 3 baths ∙ 2,388 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,388 Sqft ∙ Built 2004
    LEASED 04/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.65
    •  
  • 9118 Laurel Ridge Trail Charlotte, NC 3
    • 3 beds 3 baths ∙ 2,510 Sqft ∙ Built 1991 3 beds 3 baths ∙ 2,510 Sqft ∙ Built 1991
    LEASED 07/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.69
    •  
  • 9229 Heritage Woods Place Charlotte, NC 4
    • 3 beds 3 baths ∙ 2,550 Sqft ∙ Built 1990 3 beds 3 baths ∙ 2,550 Sqft ∙ Built 1990
    LEASED 03/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,745
    • $0.68
    •  
  • 4505 Canipe Drive Charlotte, NC 5
    • 4 beds 3 baths ∙ 2,670 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,670 Sqft ∙ Built 2003
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.66
    •  
PROPERTY LISTING DETAILS
Kim Mccowan
1.704.626.0356
Keller Williams Ballantyne Area
BESbswy