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

1020 Cambrook Court Concord, NC 28027

4 Beds 3 Baths 2,224 sqft Built 2002

$319,000

List Price

$1,760

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $143.44
  • 2 Days on Market
  • MLS # : 3685269
  • Updated Date : 11/21/2020 at 17:53
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,224 sqft
  • Baths : 2 full , 1 half
Listing Agent

Engel & Völkers Uptown Charlotte

Listing Agent's Description

Lovely 4 Bedroom, 2.5 Bathroom Home in Concord, located in a small private neighborhood with NO HOA. Within the last three years, a new privacy fence has been installed. The home has recently been updated with new paint throughout, new vinyl tile in the kitchen, master bath, secondary bath and laundry/mud room. Bathrooms have all been updated with new vanities and fixtures. Freshly painted doors and new door hardware throughout. This home has TONS OF STORAGE with SIX different attic access points, two which are walk-in. New fire ring recently built, great for entertaining. Just a short drive from Veterans Memorial Park and downtown Kannapolis. Master bedroom on the main level.

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: Cambrook

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240kPrice in $74k257k

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

Neighborhood: Cambrook

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2700800900100011001200130014001500Rent in $6771589

* 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
Winecoff Elementary School Primary Regular 904 58 2
Northwest Cabarrus Middle School Middle Regular 905 58 4
Northwest Cabarrus High School High Regular 1,198 72 3

Winecoff Elementary School

  • Education Level: Primary
  • # of students: 904
  • # of teachers: 58
2
GreatSchools Rating

Northwest Cabarrus Middle School

  • Education Level: Middle
  • # of students: 905
  • # of teachers: 58
4
GreatSchools Rating

Northwest Cabarrus High School

  • Education Level: High
  • # of students: 1,198
  • # of teachers: 72
3
GreatSchools Rating
 

$287,100$350,900$319,000

PURCHASE PRICE

$1,584$1,936$1,760

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,760
EXPENSES Loan Payment -$1,177
Property Tax -$271
Property Insurance -$69
Property Management Fees -$158
CASH FLOW
$85

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.

$319,000

PROJECTED PRICE

$1,760

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 5.3%
Maintenance Year (1-5) 8.00%
Vacancy 6.02%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$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$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$90,285

INVESTMENT

$90,285

Down Payment
$79,750
Rehab Estimate
$5,750
Closing Costs
$4,785

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,177

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $79,750
Loan Amount $239,250
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$24,236

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,760

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $1,720

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,4953$1,6954$1,760
$1,760
RENT COMPS ANALYSIS
  • 1020 Cambrook Court Concord, NC 4
    • 4 beds 3 baths ∙ 2,224 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,224 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,760
    • $0.79
    •  
  • 1356 Sinai Place Concord, NC 1
    • 3 beds 3 baths ∙ 1,882 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,882 Sqft ∙ Built 2006
    LEASED 01/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.74
    •  
  • 132 Newport Drive Kannapolis, NC 2
    • 3 beds 3 baths ∙ 1,961 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,961 Sqft ∙ Built 2004
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.76
    •  
  • 1239 Brecken Court Kannapolis, NC 3
    • 4 beds 3 baths ∙ 2,064 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,064 Sqft ∙ Built 2006
    LEASED 07/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.82
    •  
PROPERTY LISTING DETAILS
Corey Sefers
1.704.412.9512
Engel & Völkers Uptown Charlotte
BESbswy