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PROPERTY INFO
FACTS
- Single Family
- Built In 2005
- Price/Sqft : $140.55
- 3 Days on Market
- MLS # : 3707296
- Updated Date : 02/14/2021 at 00:05
CONSTRUCTION
- Beds : 5
- Floor Size : 2,668 sqft
- Baths : 3 full
Listing Agent
Long & Foster Real Estate Inc
Listing Agent's Description
Welcome to this brick colonial, two car garage Highland Creek home in Cabarrus County. So many wonderful upgrades throughout this impressive 5 bedroom, 3 full bath home with updated bathrooms, marble kitchen backsplash, separate ?walk-in pantry, island, and freshly painted throughout. New roof in 11/20. Open floor plan, Hardwood floors on main level with sunken family room. First floor guest room or office with an updated full bath on main level, two story foyer. Huge Owner suite with tray ceiling and fan, garden tub and updated tiled shower, double vanity & walk-in closet. Versatile loft ?area, 3 other bedrooms with tray ceilings and fans. Large patio overlooking fenced yard that backs to a large wooded forest area with a stream, irrigation system, and vegetable garden area. Wonderful flow for entertaining! Conveniently located close to shopping, Concord Mills, I-85, I-485, multiple playgrounds, pools, the Sports Club, walking paths, golf course, and so much more!
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
Neighborhood: Dominion Montrose
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Dominion Montrose
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,900 |
| EXPENSES | Loan Payment | -$1,303 |
| Property Tax | -$412 | |
| Property Insurance | -$77 | |
| HOA | -$54 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
-$64
|
||
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.
$375,000
PROJECTED PRICE
$1,900
PROJECTED RENT
0.51%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.48% |
| Appreciation Year (1-5) | 6.4% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.31% |
| 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
$105,125
LOAN DETAILS
$1,303
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $93,750 |
| Loan Amount | $281,250 |
4.42
YEARS SAVED
$16,072
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,900
LIST RENT -
$0.71
LIST RENT PER SQFT
-
$1,928
COMP ESTIMATED VALUE -
$0.72
COMP AVG. RENT PER SQFT
Comps Range
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10127 Montrose Drive Nw Charlotte, NC 3
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- Rent Per SQFT
- $1,900
- $0.71
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1454 Bedlington Drive Charlotte, NC 1
- 4 beds 3 baths ∙ 2,744 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,744 Sqft ∙ Built 2006
LEASED 02/21/20- Rent
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- $1,795
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5604 Mcchesney Drive Charlotte, NC 2
- 5 beds 3 baths ∙ 2,730 Sqft ∙ Built 1997 5 beds 3 baths ∙ 2,730 Sqft ∙ Built 1997
LEASED 12/12/20- Rent
- Rent Per SQFT
- $1,895
- $0.69
-
8209 Laurel Run Drive Charlotte, NC 4
- 4 beds 3 baths ∙ 2,621 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,621 Sqft ∙ Built 2001
LEASED 12/09/20- Rent
- Rent Per SQFT
- $2,000
- $0.76
-
10323 Dominion Village Drive Charlotte, NC 5
- 5 beds 3 baths ∙ 2,725 Sqft ∙ Built 2005 5 beds 3 baths ∙ 2,725 Sqft ∙ Built 2005
LEASED 10/07/20- Rent
- Rent Per SQFT
- $2,150
- $0.79
PROPERTY LISTING DETAILS
1.240.793.8523
Long & Foster Real Estate Inc
