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

1010 Craven Street Indian Trail, NC 28079

4 Beds 3 Baths 2,838 sqft Built 2012

$350,000

List Price

$1,820

$1.6K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2012
  • Price/Sqft : $123.33
  • 3 Days on Market
  • MLS # : 3712615
  • Updated Date : 02/26/2021 at 16:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,838 sqft
  • Baths : 3 full
Listing Agent

Century 21 Providence Realty

Listing Agent's Description

Beautifully maintained home in desirable section of Brandon Oaks. The Gardens at Brandon Oaks offers a maintenance-free yard. Huge kitchen with tons of storage, granite counters and stainless appliances. Open kitchen to family room with gas fireplace. Hardwood floors in kitchen, bath, foyer and dining room. Office/living room with French doors on main. Large master with tray ceiling linen and large walk-in closet. Master bath has large shower and dual vanities. Additional loft area upstairs. Three generous sized secondary bedrooms upstairs all with good size closets. Lots of upgrades – crown molding, tray ceiling in master, chair railing, iron spindles on stairway. House has lots of natural light and storage space. Low Union County taxes and great schools. Brandon Oaks is a large community with two pools, tennis courts, multiple play areas, clubhouse and much more! NO SHOWINGS UNTIL 2/27

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

Neighborhood: Brandon Oaks

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $118k318k

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

Neighborhood: Brandon Oaks

NeighborhoodNIR 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
Sun Valley Elementary School Primary Regular 695 45 9
Sun Valley Middle School Middle Regular 1,365 69 6
Sun Valley High School High Regular 1,306 76 7

Sun Valley Elementary School

  • Education Level: Primary
  • # of students: 695
  • # of teachers: 45
9
GreatSchools Rating

Sun Valley Middle School

  • Education Level: Middle
  • # of students: 1,365
  • # of teachers: 69
6
GreatSchools Rating

Sun Valley High School

  • Education Level: High
  • # of students: 1,306
  • # of teachers: 76
7
GreatSchools Rating
 

$315,000$385,000$350,000

PURCHASE PRICE

$1,638$2,002$1,820

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,820
EXPENSES Loan Payment -$1,216
Property Tax -$229
Property Insurance -$81
HOA -$48
Property Management Fees -$119
CASH FLOW
$128

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.

$350,000

PROJECTED PRICE

$1,820

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 6.2%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,500

INVESTMENT

$98,500

Down Payment
$87,500
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,216

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,500
Loan Amount $262,500
See What Happens When You Reinvest Cash Flow

7.58

YEARS SAVED

$33,557

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,820

    LIST RENT
  • $0.64

    LIST RENT PER SQFT
  • $1,944

    COMP ESTIMATED VALUE
  • $0.68

    COMP AVG. RENT PER SQFT
Comps Range
$1,725
1$1,7252$1,8203$1,8504$1,9755$2,075
$2,075
RENT COMPS ANALYSIS
  • 1010 Craven Street Indian Trail, NC 2
    • 4 beds 3 baths ∙ 2,838 Sqft ∙ Built 2012 4 beds 3 baths ∙ 2,838 Sqft ∙ Built 2012
    • Rent
    • Rent Per SQFT
    •  
    • $1,820
    • $0.64
    •  
  • 5002 Breeze Lane Indian Trail, NC 1
    • 3 beds 3 baths ∙ 2,638 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,638 Sqft ∙ Built 2005
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.65
    •  
  • 3016 Corrona Lane Indian Trail, NC 3
    • 4 beds 4 baths ∙ 2,800 Sqft ∙ Built 2014 4 beds 4 baths ∙ 2,800 Sqft ∙ Built 2014
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.66
    •  
  • 2007 Sipes Place Indian Trail, NC 4
    • 5 beds 3 baths ∙ 2,818 Sqft ∙ Built 2006 5 beds 3 baths ∙ 2,818 Sqft ∙ Built 2006
    LEASED 05/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $0.70
    •  
  • 1018 Whippoorwill Lane Indian Trail, NC 5
    • 4 beds 3 baths ∙ 2,830 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,830 Sqft ∙ Built 2005
    LEASED 05/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,075
    • $0.73
    •  
PROPERTY LISTING DETAILS
Deborah Richter
1.704.607.2179
Century 21 Providence Realty
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3712615
Last Updated: 02/26/2021
BESbswy