Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more
REQUEST INFO
SCHEDULE APPOINTMENT
It's free, with no obligation
PROPERTY INFO
FACTS
- Single Family
- Built In 1978
- Price/Sqft : $133.83
- 48 Days on Market
- MLS # : 3676916
- Updated Date : 12/10/2020 at 14:20
CONSTRUCTION
- Beds : 5
- Floor Size : 2,167 sqft
- Baths : 2 full , 1 half
Listing Agent
Re/max Executive
Listing Agent's Description
LOCATION! This unique contemporary-style home features 5 BRs & 2.5 BAs. Situated on a 1+ ac lot, the backyd boasts a park-like setting w/ mature landscaping & a small stream. In the KIT, cabinet & countertop space abound w/ large center island, desk/workspace & breakfast/dining area that opens to back deck. KIT updates incl'd SS appliances, granite c-tops, new fronts on cabs & new hardware; Great rm features oversized windows allowing for tons of natural light, towering cathedral ceilings & a cozy FP. Hardwoods were installed in KIT, great rm, entryway & hallway. Also, on the main is a BR/OFC & half bath. Upstairs, you’ll find a loft open to the great rm below, along w/ the master BR, a bath & 2 secondary BRs. The lower level features a walk-out basement (to patio) w/ BR, BA, den/flex space w/ large bar & a workshop area. Laundry has ample storage to incl'd built-ins;Carport; Walking distance to Gastonia Country Club, Conv't to Southampton Tennis & Racket Club, dining & shopping, I-85.
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: 28056
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 28056
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,850 |
| EXPENSES | Loan Payment | -$1,070 |
| Property Tax | -$241 | |
| Property Insurance | -$68 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$353
|
||
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.
$290,000
PROJECTED PRICE
$1,850
PROJECTED RENT
0.64%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 2.98% |
| Appreciation Year (1-5) | 4.6% |
| 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
$82,600
LOAN DETAILS
$1,070
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $72,500 |
| Loan Amount | $217,500 |
11.42
YEARS SAVED
$58,761
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,850
LIST RENT -
$0.85
LIST RENT PER SQFT
-
$1,690
COMP ESTIMATED VALUE -
$0.78
COMP AVG. RENT PER SQFT
Comps Range
-
1009 Colony Court Gastonia, NC 3
- 5 beds 3 baths ∙ 2,167 Sqft ∙ Built 1978 5 beds 3 baths ∙ 2,167 Sqft ∙ Built 1978
- Rent
- Rent Per SQFT
- $1,850
- $0.85
-
1539 Georgetowne Drive Gastonia, NC 1
- 4 beds 3 baths ∙ 1,884 Sqft ∙ Built 1970 4 beds 3 baths ∙ 1,884 Sqft ∙ Built 1970
LEASED 05/26/20- Rent
- Rent Per SQFT
- $1,500
- $0.80
-
1516 Plantation Trail Gastonia, NC 2
- 4 beds 3 baths ∙ 2,266 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,266 Sqft ∙ Built 1993
LEASED 08/14/19- Rent
- Rent Per SQFT
- $1,725
- $0.76
PROPERTY LISTING DETAILS
1.704.460.4911
Re/max Executive
