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1007 Creedmore Court Charlotte, NC 28215

3 Beds 3 Baths 1,800 sqft Built 2021

$258,900

List Price

$1,500

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $143.83
  • 26 Days on Market
  • MLS # : 3690122
  • Updated Date : 01/02/2021 at 12:59
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,800 sqft
  • Baths : 2 full , 1 half
Listing Agent

Lgi Homes Nc Llc

Listing Agent's Description

Beautiful 3 bedroom with 2.5 bathrooms and 2 car garage. Spacious open floor plan with vaulted ceilings in the living room. Kitchen includes all brand new energy efficient appliances and granite counters. Upstairs features master bedroom, 2 additional bedrooms, loft and laundry room.

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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: Silverwood

NeighborhoodNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230kPrice in $113k235k

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

Neighborhood: Silverwood

NeighborhoodNIR Market*CityMarket2010Year20002019 Q285090095010001050110011501200125013001350140014501500Rent in $8421518

* 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
Reedy Creek Elementary School Primary Regular 730 44 6
Northridge Middle School Middle Regular 779 43 3
Rocky River High School High Regular 1,710 90 3

Reedy Creek Elementary School

  • Education Level: Primary
  • # of students: 730
  • # of teachers: 44
6
GreatSchools Rating

Northridge Middle School

  • Education Level: Middle
  • # of students: 779
  • # of teachers: 43
3
GreatSchools Rating

Rocky River High School

  • Education Level: High
  • # of students: 1,710
  • # of teachers: 90
3
GreatSchools Rating
 

$233,010$284,790$258,900

PURCHASE PRICE

$1,350$1,650$1,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,500
EXPENSES Loan Payment -$955
Property Tax -$242
Property Insurance -$61
HOA -$25
Property Management Fees -$119
CASH FLOW
$98

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$258,900

PROJECTED PRICE

$1,500

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 8.1%
Maintenance Year (1-5) 3.00%
Vacancy 6.57%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530$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$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$70,609

INVESTMENT

$70,609

Down Payment
$64,725
Rehab Estimate
$2,000
Closing Costs
$3,884

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$955

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $64,725
Loan Amount $194,175
See What Happens When You Reinvest Cash Flow

7.17

YEARS SAVED

$26,428

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,500

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,499

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,4753$1,4904$1,5005$1,650
$1,650
RENT COMPS ANALYSIS
  • 1007 Creedmore Court Charlotte, NC 4
    • 3 beds 3 baths ∙ 1,800 Sqft ∙ Built 2021 3 beds 3 baths ∙ 1,800 Sqft ∙ Built 2021
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.83
    •  
  • 13819 Plowdon Court Charlotte, NC 1
    • 3 beds 2 baths ∙ 1,823 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,823 Sqft ∙ Built 2007
    property image
    LEASED 06/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.80
    •  
  • 7004 Amberly Hills Road Charlotte, NC 2
    • 3 beds 3 baths ∙ 1,800 Sqft ∙ Built 2018 3 beds 3 baths ∙ 1,800 Sqft ∙ Built 2018
    property image
    LEASED 01/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.82
    •  
  • 9725 Weikert Place Charlotte, NC 3
    • 3 beds 3 baths ∙ 1,800 Sqft ∙ Built 2019 3 beds 3 baths ∙ 1,800 Sqft ∙ Built 2019
    property image
    LEASED 10/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,490
    • $0.83
    •  
  • 9524 Weikert Road Charlotte, NC 5
    • 3 beds 2 baths ∙ 1,914 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,914 Sqft ∙ Built 2017
    property image
    LEASED 09/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.86
    •  
PROPERTY LISTING DETAILS
Susan Thompson
1.704.999.1457
Lgi Homes Nc Llc
BESbswy