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1021 Yellow Bee Road Indian Trail, NC 28079

4 Beds 2 Baths 1,872 sqft Built 2007

$255,000

List Price

$1,480

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $136.22
  • 5 Days on Market
  • MLS # : 3676198
  • Updated Date : 11/19/2020 at 19:31
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,872 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Select

Listing Agent's Description

You don't want to miss your opportunity to own this charming home in desirable Fieldstone Farm! Fantastic floor plan, with three bedrooms on the main level (including the master suite) and a fourth bedroom or bonus room on the second level. You'll love how open the living space is and the high ceilings are sure to impress. Gas fireplace in the living room will keep you cozy on the cold winter nights. Owners' bathroom has double vanity, garden tub, and separate shower. Backyard is flat and already fenced. HVAC was replaced in 2016. Washer, dryer, and refrigerator remain for the new owners. Amazing neighborhood amenities include swimming pool, clubhouse, sports court & field, and playground. ** SHOWINGS BEGIN FRIDAY @ 3PM** DUE TO RESPONSE, ALL OFFERS DUE BY SATURDAY @ 5 PM**

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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

Zip Code: 28079

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $118k318k

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

Zip Code: 28079

ZipNIR 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
Poplin Elementary School Primary Regular 719 40 7
Porter Ridge Middle School Middle Regular 1,385 72 7
Porter Ridge High School High Regular 1,591 77 7

Poplin Elementary School

  • Education Level: Primary
  • # of students: 719
  • # of teachers: 40
7
GreatSchools Rating

Porter Ridge Middle School

  • Education Level: Middle
  • # of students: 1,385
  • # of teachers: 72
7
GreatSchools Rating

Porter Ridge High School

  • Education Level: High
  • # of students: 1,591
  • # of teachers: 77
7
GreatSchools Rating
 

$229,500$280,500$255,000

PURCHASE PRICE

$1,332$1,628$1,480

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,480
EXPENSES Loan Payment -$941
Property Tax -$167
Property Insurance -$62
HOA -$42
Property Management Fees -$133
CASH FLOW
$135

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.

$255,000

PROJECTED PRICE

$1,480

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 6.3%
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$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

11530$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$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$73,325

INVESTMENT

$73,325

Down Payment
$63,750
Rehab Estimate
$5,750
Closing Costs
$3,825

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$941

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $63,750
Loan Amount $191,250
See What Happens When You Reinvest Cash Flow

7.5

YEARS SAVED

$28,975

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,480

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $1,526

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,480
1$1,4802$1,5653$1,6254$1,6505$1,750
$1,750
RENT COMPS ANALYSIS
  • 1021 Yellow Bee Road Indian Trail, NC 1
    • 4 beds 2 baths ∙ 1,872 Sqft ∙ Built 2007 4 beds 2 baths ∙ 1,872 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $1,480
    • $0.79
    •  
  • 1012 Green Terra Road Indian Trail, NC 2
    • 4 beds 3 baths ∙ 2,000 Sqft ∙ Built 2010 4 beds 3 baths ∙ 2,000 Sqft ∙ Built 2010
    LEASED 01/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,565
    • $0.78
    •  
  • 1018 Garden Web Road Indian Trail, NC 3
    • 4 beds 3 baths ∙ 2,036 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,036 Sqft ∙ Built 2013
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.80
    •  
  • 1006 Back Stretch Boulevard Indian Trail, NC 4
    • 3 beds 3 baths ∙ 2,004 Sqft ∙ Built 2015 3 beds 3 baths ∙ 2,004 Sqft ∙ Built 2015
    LEASED 02/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.82
    •  
  • 5104 Alysheba Drive Indian Trail, NC 5
    • 3 beds 3 baths ∙ 2,109 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,109 Sqft ∙ Built 2002
    LEASED 02/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.83
    •  
PROPERTY LISTING DETAILS
Christen Ripoli
1.980.239.7872
Keller Williams Select
BESbswy