Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

1039 Sandy Point Drive Sw Concord, NC 28025

3 Beds 2 Baths 1,310 sqft Built 2000

$210,000

List Price

$1,510

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $160.31
  • 2 Days on Market
  • MLS # : 3690852
  • Updated Date : 12/12/2020 at 22:32
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,310 sqft
  • Baths : 2 full
Listing Agent

Southern Homes Of The Carolinas

Listing Agent's Description

This charming home features: Great room w/volume ceiling, tile flooring & chair rail molding, large open eat-in kitchen w/volume ceiling, island, tile flooring, large pantry, and brand new dishwasher, master BR w/laminate flooring & ceiling fan, master bath w/dual vanity sinks, tile flooring, walk-in closet, garden tub & separate shower, two secondary bedrooms w/laminate flooring & one bedroom features beadboard molding, secondary bathroom w/tile flooring & beadboard molding, laundry area w/shelving, garage w/shelving, patio & more! Wonderful location in established neighborhood. Situated on a spacious cul-de-sac lot. Refrigerator to convey. Nicely maintained home and ready for it's new owner!

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

Neighborhood: Boulder Creek

NeighborhoodNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210kPrice in $113k216k

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

Neighborhood: Boulder Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2850900950100010501100115012001250130013501400Rent in $8401400

* 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
Rocky River Elementary School Primary Regular 771 54 2
C C Griffin Middle School Middle Regular 1,092 70 4
Central Cabarrus High School High Regular 1,416 88 4

Rocky River Elementary School

  • Education Level: Primary
  • # of students: 771
  • # of teachers: 54
2
GreatSchools Rating

C C Griffin Middle School

  • Education Level: Middle
  • # of students: 1,092
  • # of teachers: 70
4
GreatSchools Rating

Central Cabarrus High School

  • Education Level: High
  • # of students: 1,416
  • # of teachers: 88
4
GreatSchools Rating
 

$189,000$231,000$210,000

PURCHASE PRICE

$1,359$1,661$1,510

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,510
EXPENSES Loan Payment -$775
Property Tax -$236
Property Insurance -$52
HOA -$15
Property Management Fees -$119
CASH FLOW
$314

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.

$210,000

PROJECTED PRICE

$1,510

PROJECTED RENT

0.72%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 6.9%
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$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$61,400

INVESTMENT

$61,400

Down Payment
$52,500
Rehab Estimate
$5,750
Closing Costs
$3,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 25% down payment or higher enables the proceeds from the asset to cover all costs.

$775

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $52,500
Loan Amount $157,500
See What Happens When You Reinvest Cash Flow

12.25

YEARS SAVED

$46,956

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,510

    LIST RENT
  • $1.15

    LIST RENT PER SQFT
  • COMP ESTIMATED VALUE
  • COMP AVG. RENT PER SQFT
Comps Range
$1,510
1$1,510
$1,510
RENT COMPS ANALYSIS
  • 1039 Sandy Point Drive Sw Concord, NC
    • 3 beds 2 baths ∙ 1,310 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,310 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $1,510
    • $1.15
    •  
PROPERTY LISTING DETAILS
Leanne Pogue-wooten
1.704.791.5887
Southern Homes Of The Carolinas
BESbswy