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1017 Craven Street Indian Trail, NC 28079

3 Beds 3 Baths 2,020 sqft Built 2008

INVESTimate

$270,900

List Price

$1,510

$1,359 - $1,661

Rent Est.

$287,777  ( +6.23%)   1 YR EST. FORECAST

PROPERTY INFO

August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 2008
  • Price/Sqft : $134.11
  • 3 Days on Market
  • MLS # : 3654452
  • Updated Date : 08/25/2020 at 18:29
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,020 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams South Park

Listing Agent's Description

A sought after 2-story home in Gardens/Brandon Oaks Subdivision features elegance for having a 3-bedroom, 2.5 bath open floor layout that captivates the eye. Its main floor features warmth and natural lights with lavish living, formal dining, and kitchen accentuated with elegant overhead cabinets, appliances, and an enchanting island. Its gorgeous floors highlight the whole place plus the elegant prime suite that features an oversize walk-in closet, an elegant primary bath with a sink, vanity, shower, and a laundry room down the alley. Additional 2 bedrooms with a shared bathroom are also available upstairs, plus a sumptuous bonus area. To see is to believe! Come and schedule your visit today.

SEE MORE

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: 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
 

$243,810$297,990$270,900

PURCHASE PRICE

$1,359$1,661$1,510

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,510
EXPENSES Loan Payment -$1,000
Property Tax -$150
Property Insurance -$65
HOA -$135
Property Management Fees -$136
CASH FLOW
$25

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.

$270,900

PROJECTED PRICE

$1,510

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 6.23%
Maintenance Year (1-5) 8.00%
Vacancy 6.31%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$77,539

INVESTMENT

$77,539

Down Payment
$67,725
Rehab Estimate
$5,750
Closing Costs
$4,064

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,000

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $67,725
Loan Amount $203,175
See What Happens When You Reinvest Cash Flow

5.17

YEARS SAVED

$17,206

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,510

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $1,601

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,449
1$1,4492$1,5103$1,6004$1,6505$1,650
$1,650
RENT COMPS ANALYSIS
  • 1017 Craven Street Indian Trail, NC 2
    • 3 beds 3 baths ∙ 2,020 Sqft ∙ Built 2008 3 beds 3 baths ∙ 2,020 Sqft ∙ Built 2008
    • Rent
    • Rent Per SQFT
    •  
    • $1,510
    • $0.75
    •  
  • 5340 Courtfield Drive Indian Trail, NC 1
    • 4 beds 3 baths ∙ 1,918 Sqft ∙ Built 1997 4 beds 3 baths ∙ 1,918 Sqft ∙ Built 1997
    LEASED 01/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,449
    • $0.76
    •  
  • 2241 Shumard Circle Indian Trail, NC 3
    • 4 beds 3 baths ∙ 1,922 Sqft ∙ Built 2001 4 beds 3 baths ∙ 1,922 Sqft ∙ Built 2001
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.83
    •  
  • 1019 Canopy Drive Indian Trail, NC 4
    • 3 beds 3 baths ∙ 2,254 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,254 Sqft ∙ Built 2006
    LEASED 05/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.73
    •  
  • 1011 Fountainbrook Drive Indian Trail, NC 5
    • 3 beds 2 baths ∙ 2,108 Sqft ∙ Built 2005 3 beds 2 baths ∙ 2,108 Sqft ∙ Built 2005
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.78
    •  
PROPERTY LISTING DETAILS
Trent Corbin
1.704.628.4066
Keller Williams South Park
BESbswy