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10313 Haddington Drive Charlotte, NC 28269

4 Beds 2 Baths 2,333 sqft Built 2002

$319,000

List Price

$1,730

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 2002
  • Price/Sqft : $136.73
  • 8 Days on Market
  • MLS # : 3678375
  • Updated Date : 11/07/2020 at 10:28
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,333 sqft
  • Baths : 2 full
Listing Agent

Lantern Realty & Development Llc

Listing Agent's Description

Spacious, neutral & move in ready! Fantastic four bedroom home on the Cabarrus side of Highland Creek! FIRST FLOOR FEATURES DINING ROOM, LIVING ROOM, GREAT ROOM W/FIREPLACE. UPSTAIRS ARE FOUR NICE SIZED BEDROOMS. MASTER BATH INCLUDES AN OVERSIZED SHOWER. HOME`S FRENCH DOOR LEAD TO THE FULLY FENCED BACKYARD! COME SEE THIS HOME TODAY!!

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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

Neighborhood: Haddington

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $116k318k

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

Neighborhood: Haddington

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
Cox Mill Elementary School Primary Regular 1,112 61 9
Harris Road Middle School Middle Regular 1,185 63 9
Cox Mill High School High Regular 1,478 76 7

Cox Mill Elementary School

  • Education Level: Primary
  • # of students: 1,112
  • # of teachers: 61
9
GreatSchools Rating

Harris Road Middle School

  • Education Level: Middle
  • # of students: 1,185
  • # of teachers: 63
9
GreatSchools Rating

Cox Mill High School

  • Education Level: High
  • # of students: 1,478
  • # of teachers: 76
7
GreatSchools Rating
 

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

PURCHASE PRICE

$1,557$1,903$1,730

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,730
EXPENSES Loan Payment -$1,177
Property Tax -$337
Property Insurance -$71
HOA -$54
Property Management Fees -$156
CASH FLOW
-$65

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

$1,730

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 6.4%
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-$4.0k-$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$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 55% 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

3.5

YEARS SAVED

$11,854

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,730

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $1,738

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6503$1,7004$1,7005$1,730
$1,730
RENT COMPS ANALYSIS
  • 10313 Haddington Drive Charlotte, NC 5
    • 4 beds 2 baths ∙ 2,333 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,333 Sqft ∙ Built 2002
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,730
    • $0.74
    •  
  • 6018 Leawood Run Court Charlotte, NC 1
    • 4 beds 3 baths ∙ 2,315 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,315 Sqft ∙ Built 2001
    property image
    LEASED 02/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.71
    •  
  • 10434 Haddington Drive Charlotte, NC 2
    • 4 beds 3 baths ∙ 2,228 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,228 Sqft ∙ Built 2002
    property image
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.74
    •  
  • 1312 Crestfield Court Charlotte, NC 3
    • 4 beds 3 baths ∙ 2,293 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,293 Sqft ∙ Built 2002
    property image
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.74
    •  
  • 5705 Whitegate Lane Charlotte, NC 4
    • 4 beds 3 baths ∙ 2,267 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,267 Sqft ∙ Built 1997
    property image
    LEASED 08/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.75
    •  
PROPERTY LISTING DETAILS
Julie Nutter
1.240.888.7493
Lantern Realty & Development Llc
BESbswy