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1031 Plymouth Street Gastonia, NC 28054

3 Beds 3 Baths 1,200 sqft Built 2021

$189,900

List Price

$1,080

$972 - $1.2K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $158.25
  • 4 Days on Market
  • MLS # : 3698932
  • Updated Date : 01/15/2021 at 17:19
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,200 sqft
  • Baths : 2 full , 1 half
Listing Agent

The Virtual Realty Group

Listing Agent's Description

NEW CONSTRUCTION HOME. Estimated completion date: 3/24/2021. Enjoy beautiful LVP flooring, granite countertops, beautiful finishes & stainless steel appliances provided by seller. This home will be fully move in ready and is located in a very convenient location. Don't miss this opportunity to have a brand new home for less than 200K!

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 28054

ZipNIR Market*CityMarket2010Year2000201980k90k100k110k120k130k140k150k160k170k180k190k200k210kPrice in $74k213k

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

Zip Code: 28054

ZipNIR Market*CityMarket2010Year20002019 Q270075080085090095010001050110011501200125013001350Rent in $6771375

* 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
Lingerfeldt Elementary School Primary Regular 494 32 4
York Chester Middle School Middle Regular 389 29 3
Hunter Huss High School High Regular 1,148 67 3

Lingerfeldt Elementary School

  • Education Level: Primary
  • # of students: 494
  • # of teachers: 32
4
GreatSchools Rating

York Chester Middle School

  • Education Level: Middle
  • # of students: 389
  • # of teachers: 29
3
GreatSchools Rating

Hunter Huss High School

  • Education Level: High
  • # of students: 1,148
  • # of teachers: 67
3
GreatSchools Rating
 

$170,910$208,890$189,900

PURCHASE PRICE

$972$1,188$1,080

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,080
EXPENSES Loan Payment -$660
Property Tax -$154
Property Insurance -$50
Property Management Fees -$119
CASH FLOW
$98

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$189,900

PROJECTED PRICE

$1,080

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 6.0%
Maintenance Year (1-5) 3.00%
Vacancy 6.02%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$52,324

INVESTMENT

$52,324

Down Payment
$47,475
Rehab Estimate
$2,000
Closing Costs
$2,849

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$660

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $47,475
Loan Amount $142,425
See What Happens When You Reinvest Cash Flow

8.25

YEARS SAVED

$20,831

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,080

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,131

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$865
1$8652$1,0503$1,0804$1,2085$1,270
$1,270
RENT COMPS ANALYSIS
  • 1031 Plymouth Street Gastonia, NC 3
    • 3 beds 3 baths ∙ 1,200 Sqft ∙ Built 2021 3 beds 3 baths ∙ 1,200 Sqft ∙ Built 2021
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,080
    • $0.90
    •  
  • 1261 Hudson Avenue Gastonia, NC 1
    • 3 beds 1 baths ∙ 900 Sqft ∙ Built 1961 3 beds 1 baths ∙ 900 Sqft ∙ Built 1961
    property image
    LEASED 01/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $865
    • $0.96
    •  
  • 1218 Congress Street Gastonia, NC 2
    • 3 beds 1 baths ∙ 1,213 Sqft ∙ Built 1920 3 beds 1 baths ∙ 1,213 Sqft ∙ Built 1920
    property image
    LEASED 11/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,050
    • $0.87
    •  
  • 1011 Holly Drive Gastonia, NC 4
    • 3 beds 2 baths ∙ 1,260 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,260 Sqft ∙ Built 1964
    property image
    LEASED 04/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,208
    • $0.96
    •  
  • 501 W 6th Avenue Gastonia, NC 5
    • 3 beds 2 baths ∙ 1,270 Sqft ∙ Built 3 beds 2 baths ∙ 1,270 Sqft ∙ Built
    property image
    LEASED 07/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,270
    • $1.00
    •  
PROPERTY LISTING DETAILS
Kimberly Defrancisis
1.704.579.5632
The Virtual Realty Group
BESbswy