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1005 Fairbrae Lane #246 Amelia CR Indian Trail, NC 28079

4 Beds 4 Baths 2,684 sqft Built 2020

$399,357

List Price

$1,870

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $148.79
  • 2 Days on Market
  • MLS # : 3689052
  • Updated Date : 12/05/2020 at 17:04
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,684 sqft
  • Baths : 3 full , 1 half
Listing Agent

Mattamy Carolina Corporation

Listing Agent's Description

This beautiful Amelia home offers a very open floor plan with the laundry and owner's suite on the main level!! Enjoy cooking and entertaining in the open kitchen that looks out into the gathering room. Extend your entertaining upstairs to the very spacious and inviting loft! The upstairs also has 3 bedrooms and 2 full baths, just perfect for family and guest! Ready in March.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
Hemby Bridge Elementary School Primary Regular 496 31 6
Porter Ridge Middle School Middle Regular 1,385 72 7
Porter Ridge High School High Regular 1,591 77 7

Hemby Bridge Elementary School

  • Education Level: Primary
  • # of students: 496
  • # of teachers: 31
6
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
 

$359,421$439,293$399,357

PURCHASE PRICE

$1,683$2,057$1,870

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,870
EXPENSES Loan Payment -$1,473
Property Tax -$261
Property Insurance -$78
HOA -$65
Property Management Fees -$119
CASH FLOW
-$125

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$399,357

PROJECTED PRICE

$1,870

PROJECTED RENT

0.47%

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) 3.00%
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$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$107,830

INVESTMENT

$107,830

Down Payment
$99,839
Rehab Estimate
$2,000
Closing Costs
$5,990

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,473

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $99,839
Loan Amount $299,518
See What Happens When You Reinvest Cash Flow

4.25

YEARS SAVED

$18,881

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,870

    LIST RENT
  • $0.7

    LIST RENT PER SQFT
  • $1,892

    COMP ESTIMATED VALUE
  • $0.71

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,8503$1,8704$1,9455$2,000
$2,000
RENT COMPS ANALYSIS
  • 1005 Fairbrae Lane Indian Trail, NC 3
    • 4 beds 4 baths ∙ 2,684 Sqft ∙ Built 2020 4 beds 4 baths ∙ 2,684 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,870
    • $0.70
    •  
  • 1003 Garden Web Road Indian Trail, NC 1
    • 4 beds 2 baths ∙ 2,424 Sqft ∙ Built 2012 4 beds 2 baths ∙ 2,424 Sqft ∙ Built 2012
    LEASED 10/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.70
    •  
  • 2002 Enderbury Drive Indian Trail, NC 2
    • 5 beds 4 baths ∙ 2,532 Sqft ∙ Built 2003 5 beds 4 baths ∙ 2,532 Sqft ∙ Built 2003
    LEASED 04/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.73
    •  
  • 3003 Filly Drive Indian Trail, NC 4
    • 5 beds 4 baths ∙ 2,654 Sqft ∙ Built 2005 5 beds 4 baths ∙ 2,654 Sqft ∙ Built 2005
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,945
    • $0.73
    •  
  • 1007 Emerson Lane Indian Trail, NC 5
    • 5 beds 3 baths ∙ 3,029 Sqft ∙ Built 2007 5 beds 3 baths ∙ 3,029 Sqft ∙ Built 2007
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.66
    •  
PROPERTY LISTING DETAILS
Ed Pohorence
1.704.962.9632
Mattamy Carolina Corporation
BESbswy