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1024 Coulwood Lane Indian Trail, NC 28079

3 Beds 3 Baths 2,736 sqft Built 2006

$300,000

List Price

$1,750

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

January 31, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $109.65
  • 1 Days on Market
  • MLS # : 3703203
  • Updated Date : 01/31/2021 at 00:01
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,736 sqft
  • Baths : 2 full , 1 half
Listing Agent

Wilkinson Era Real Estate

Listing Agent's Description

Immaculate, stylish, designer home on a huge, private lot with woods behind and green space next door for extra privacy. Plantation shutters throughout with an open floor plan and plenty of room for entertainment. Formal living room and spacious dining room flow into a large great room with glass logs fireplace, breakfast room and large kitchen. Kitchen offers a eat-in breakfast bar, large pantry, solid counter tops, stainless steel appliances with a big laundry room leading to the garage. Upstairs offers a master bedroom with ensuite bathroom with a soaking garden tub and walk-in shower with a walk-in closet perfect for all your treasures. Along with the three spacious bedrooms upstairs, the home offers a spacious bonus room for plenty of rec time but can be easily converted to a fourth bedroom.

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

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
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
 

$270,000$330,000$300,000

PURCHASE PRICE

$1,575$1,925$1,750

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,750
EXPENSES Loan Payment -$1,042
Property Tax -$196
Property Insurance -$79
HOA -$58
Property Management Fees -$119
CASH FLOW
$256

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.

$300,000

PROJECTED PRICE

$1,750

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$200k$400k$600k$800k$1.0M

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$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,042

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $75,000
Loan Amount $225,000
See What Happens When You Reinvest Cash Flow

10.08

YEARS SAVED

$43,689

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,750

    LIST RENT
  • $0.64

    LIST RENT PER SQFT
  • $1,813

    COMP ESTIMATED VALUE
  • $0.66

    COMP AVG. RENT PER SQFT
Comps Range
$1,725
1$1,7252$1,7503$1,7954$1,8505$1,975
$1,975
RENT COMPS ANALYSIS
  • 1024 Coulwood Lane Indian Trail, NC 2
    • 3 beds 3 baths ∙ 2,736 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,736 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $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
    •  
  • 6014 Pine Cone Lane Monroe, NC 3
    • 4 beds 3 baths ∙ 2,868 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,868 Sqft ∙ Built 2003
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.63
    •  
  • 3016 Corrona Lane Indian Trail, NC 4
    • 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
    •  
  • 1005 Bridleside Drive Indian Trail, NC 5
    • 4 beds 3 baths ∙ 2,824 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,824 Sqft ∙ Built 2003
    LEASED 02/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $0.70
    •  
PROPERTY LISTING DETAILS
Kelly Warren
1.704.526.6530
Wilkinson Era Real Estate
BESbswy