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10316 Dunberry Court Charlotte, NC 28214

4 Beds 4 Baths 2,530 sqft Built 2007

$344,900

List Price

$1,720

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $136.32
  • 121 Days on Market
  • MLS # : 3649375
  • Updated Date : 12/04/2020 at 23:46
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,530 sqft
  • Baths : 2 full , 2 half
Listing Agent

Lake Norman Agents Llc

Listing Agent's Description

Wonderful home is the desirable community of Riverbend! Homes features hardwood floors through out main, luxury kitchen w/cherry cabinets, large island and gas stove that is a cook's dream.Master suite w/large garden tub and large walk in closet (Large storage area).Finished basement with bath! Home is on a cul-de-sac which make this the home the one you will fall in love with.Rocking chair front porch invites you to sit & relax. More than ample storage & additional sq.ft. potential in basement completes this fabulous package.

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Harwood Lane

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230kPrice in $107k235k

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

Neighborhood: Harwood Lane

NeighborhoodNIR Market*CityMarket2010Year20002019 Q285090095010001050110011501200125013001350140014501500Rent in $8351518

* 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
Mountain Island Lake Academy Primary Regular 727 47 3
Hopewell High School High Regular 1,653 87 3

Mountain Island Lake Academy

  • Education Level: Primary
  • # of students: 727
  • # of teachers: 47
3
GreatSchools Rating

Hopewell High School

  • Education Level: High
  • # of students: 1,653
  • # of teachers: 87
3
GreatSchools Rating
 

$310,410$379,390$344,900

PURCHASE PRICE

$1,548$1,892$1,720

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,720
EXPENSES Loan Payment -$1,273
Property Tax -$314
Property Insurance -$75
HOA -$50
Property Management Fees -$119
CASH FLOW
-$110

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$344,900

PROJECTED PRICE

$1,720

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 8.4%
Maintenance Year (1-5) 8.00%
Vacancy 6.57%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$97,149

INVESTMENT

$97,149

Down Payment
$86,225
Rehab Estimate
$5,750
Closing Costs
$5,174

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,273

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $86,225
Loan Amount $258,675
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$12,406

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,720

    LIST RENT
  • $0.68

    LIST RENT PER SQFT
  • $1,714

    COMP ESTIMATED VALUE
  • $0.68

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6503$1,6954$1,6955$1,720
$1,720
RENT COMPS ANALYSIS
  • 10316 Dunberry Court Charlotte, NC 5
    • 4 beds 4 baths ∙ 2,530 Sqft ∙ Built 2007 4 beds 4 baths ∙ 2,530 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $1,720
    • $0.68
    •  
  • 10233 Broken Stone Court Charlotte, NC 1
    • 4 beds 3 baths ∙ 2,402 Sqft ∙ Built 2010 4 beds 3 baths ∙ 2,402 Sqft ∙ Built 2010
    LEASED 01/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.69
    •  
  • 1919 Sugarbush Drive Charlotte, NC 2
    • 4 beds 3 baths ∙ 2,445 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,445 Sqft ∙ Built 2005
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.67
    •  
  • 12433 Morning Creek Lane Charlotte, NC 3
    • 4 beds 3 baths ∙ 2,476 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,476 Sqft ∙ Built 2002
    LEASED 02/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.68
    •  
  • 10603 Shanon Darby Lane Charlotte, NC 4
    • 4 beds 4 baths ∙ 2,520 Sqft ∙ Built 2011 4 beds 4 baths ∙ 2,520 Sqft ∙ Built 2011
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.67
    •  
PROPERTY LISTING DETAILS
Adam Barton
1.704.999.6265
Lake Norman Agents Llc
BESbswy