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1005 Loudoun Road Indian Trail, NC 28079

5 Beds 4 Baths 4,200 sqft Built 2012

$417,000

List Price

$2,270

$2K - $2.5K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2012
  • Price/Sqft : $99.29
  • 2 Days on Market
  • MLS # : 3689008
  • Updated Date : 12/05/2020 at 18:35
CONSTRUCTION
  • Beds : 5
  • Floor Size : 4,200 sqft
  • Baths : 4 full
Listing Agent

Re/max Executive

Listing Agent's Description

One of the largest homes in Annandale!! 4200 square feet, 5 bedrooms, 4 full baths. Formals and a huge great room with fireplace. Great room opens to large kitchen/breakfast area with new stainless steel appliances and a 6-8 seat granite peninsula. Impressive two story foyer with beautiful turned stairway with wrought iron spindles. Spacious master suite with walk-in closets and master bath with garden tub and separate shower. Coffered and trey ceilings, lots of windows and extensive mouldings. Beautiful neighborhood with great recreational amenities and in very close proximity to the new 74 bypass. You can beat the location, square footage, flexible floor plan and price of this amazing home!!

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
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
 

$375,300$458,700$417,000

PURCHASE PRICE

$2,043$2,497$2,270

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,270
EXPENSES Loan Payment -$1,539
Property Tax -$273
Property Insurance -$106
HOA -$63
Property Management Fees -$119
CASH FLOW
$170

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.

$417,000

PROJECTED PRICE

$2,270

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$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k

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$116,255

INVESTMENT

$116,255

Down Payment
$104,250
Rehab Estimate
$5,750
Closing Costs
$6,255

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,539

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $104,250
Loan Amount $312,750
See What Happens When You Reinvest Cash Flow

7.75

YEARS SAVED

$49,599

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,270

    LIST RENT
  • $0.54

    LIST RENT PER SQFT
  • $2,436

    COMP ESTIMATED VALUE
  • $0.58

    COMP AVG. RENT PER SQFT
Comps Range
$2,270
1$2,2702$2,377
$2,377
RENT COMPS ANALYSIS
  • 1005 Loudoun Road Indian Trail, NC 1
    • 5 beds 4 baths ∙ 4,200 Sqft ∙ Built 2012 5 beds 4 baths ∙ 4,200 Sqft ∙ Built 2012
    • Rent
    • Rent Per SQFT
    •  
    • $2,270
    • $0.54
    •  
  • 6003 Warwagon Drive Indian Trail, NC 2
    • 5 beds 4 baths ∙ 4,110 Sqft ∙ Built 2005 5 beds 4 baths ∙ 4,110 Sqft ∙ Built 2005
    LEASED 12/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,377
    • $0.58
    •  
PROPERTY LISTING DETAILS
Glo Kearns
1.704.661.7000
Re/max Executive
BESbswy