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PROPERTY INFO
FACTS
- Single Family
- Built In 1968
- Price/Sqft : $78.21
- 3 Days on Market
- MLS # : 3686874
- Updated Date : 11/27/2020 at 11:47
CONSTRUCTION
- Beds : 3
- Floor Size : 1,528 sqft
- Baths : 1 full
Listing Agent
Dw Realty Team Inc
Listing Agent's Description
Investors special, this house needs updating and is being sold as is.
SEE MORE
- 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: 28174
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 28174
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,010 |
| EXPENSES | Loan Payment | -$441 |
| Property Tax | -$91 | |
| Property Insurance | -$56 | |
| Property Management Fees | -$91 | |
|
CASH FLOW
$331
|
||
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.
$119,500
PROJECTED PRICE
$1,010
PROJECTED RENT
0.85%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 2.98% |
| Appreciation Year (1-5) | 9.0% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.57% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$37,418
LOAN DETAILS
$441
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $29,875 |
| Loan Amount | $89,625 |
15.67
YEARS SAVED
$36,615
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,010
LIST RENT -
$0.66
LIST RENT PER SQFT
-
$1,222
COMP ESTIMATED VALUE -
$0.8
COMP AVG. RENT PER SQFT
Comps Range
-
1005 Clark Street Wingate, NC 1
- 3 beds 1 baths ∙ 1,528 Sqft ∙ Built 1968 3 beds 1 baths ∙ 1,528 Sqft ∙ Built 1968
![property image]()
- Rent
- Rent Per SQFT
- $1,010
- $0.66
-
305 Colonial Circle Wingate, NC 2
- 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1986
![property image]()
LEASED 09/27/19- Rent
- Rent Per SQFT
- $1,200
- $0.80
-
5302 Tucker Phillips Drive Wingate, NC 3
- 4 beds 2 baths ∙ 1,668 Sqft ∙ Built 2008 4 beds 2 baths ∙ 1,668 Sqft ∙ Built 2008
![property image]()
LEASED 04/08/20- Rent
- Rent Per SQFT
- $1,299
- $0.78
-
5308 Tucker Phillips Drive Wingate, NC 4
- 4 beds 3 baths ∙ 1,760 Sqft ∙ Built 2016 4 beds 3 baths ∙ 1,760 Sqft ∙ Built 2016
![property image]()
LEASED 04/02/20- Rent
- Rent Per SQFT
- $1,399
- $0.79
PROPERTY LISTING DETAILS
1.704.694.8400
Dw Realty Team Inc
