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PROPERTY INFO
FACTS
- Single Family
- Built In 2021
- Price/Sqft : $113.29
- 4 Days on Market
- MLS # : 3692236
- Updated Date : 12/19/2020 at 11:01
CONSTRUCTION
- Beds : 4
- Floor Size : 3,108 sqft
- Baths : 3 full , 1 half
Listing Agent
Dr Horton Inc
Listing Agent's Description
Final Phase in Sutton Farms! Conveniently located off HWY 16/Brookshire Blvd Exit 16 on I-485 near coming soon Riverbend Village Shopping Center, Uptown Charlotte, the Whitewater Center, airport, University area etc! This home is an incredible value with all the benefits of new construction and a 10 yr. Home Warranty!
SEE MORE
- 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
Neighborhood: Oakdale South
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Oakdale South
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,890 |
| EXPENSES | Loan Payment | -$1,299 |
| Property Tax | -$332 | |
| Property Insurance | -$86 | |
| HOA | -$63 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
-$8
|
||
This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.
$352,090
PROJECTED PRICE
$1,890
PROJECTED RENT
0.54%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 2.98% |
| Appreciation Year (1-5) | 8.0% |
| Maintenance Year (1-5) | 3.00% |
| Vacancy | 6.57% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$95,304
LOAN DETAILS
$1,299
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $88,023 |
| Loan Amount | $264,068 |
4.83
YEARS SAVED
$20,468
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,890
LIST RENT -
$0.61
LIST RENT PER SQFT
-
$1,875
COMP ESTIMATED VALUE -
$0.6
COMP AVG. RENT PER SQFT
Comps Range
-
1035 Elliot Road Charlotte, NC 3
- 4 beds 4 baths ∙ 3,108 Sqft ∙ Built 2021 4 beds 4 baths ∙ 3,108 Sqft ∙ Built 2021
- Rent
- Rent Per SQFT
- $1,890
- $0.61
-
3241 Bamburgh Court Charlotte, NC 1
- 4 beds 3 baths ∙ 2,910 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,910 Sqft ∙ Built 2007
LEASED 04/25/20- Rent
- Rent Per SQFT
- $1,725
- $0.59
-
3312 Aldwych Way Charlotte, NC 2
- 4 beds 3 baths ∙ 2,846 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,846 Sqft ∙ Built 2008
LEASED 07/27/19- Rent
- Rent Per SQFT
- $1,735
- $0.61
-
1636 Swan Drive Charlotte, NC 4
- 5 beds 2 baths ∙ 3,118 Sqft ∙ Built 2008 5 beds 2 baths ∙ 3,118 Sqft ∙ Built 2008
LEASED 10/15/19- Rent
- Rent Per SQFT
- $1,895
- $0.61
PROPERTY LISTING DETAILS
1.713.314.6688
Dr Horton Inc
