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

104 Easy Street Concord, NC 28027

3 Beds 2 Baths 1,654 sqft Built 1960

$235,000

List Price

$1,290

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1960
  • Price/Sqft : $142.08
  • 6 Days on Market
  • MLS # : 3700356
  • Updated Date : 03/04/2021 at 12:21
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,654 sqft
  • Baths : 2 full
Listing Agent

Dm Properties & Associates

Listing Agent's Description

Full brick ranch on 1/2 acre lot in Concord.Custom built and only one owner! This home features 3 bedrooms and 2 full baths, formal dining room, kitchen with breakfast area and a cozy den with knotty pine walls and wood burning fireplace. Separate laundry/mud room. One car attached carport with handicapped ramp.Beautifully landscaped and spacious storage building in back. Awesome location on established street. No HOA.

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

Zip Code: 28027

ZipNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $113k248k

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

Zip Code: 28027

ZipNIR Market*CityMarket2010Year20002019 Q285090095010001050110011501200125013001350140014501500Rent in $8401526

* 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
Winecoff Elementary School Primary Regular 904 58 2
Northwest Cabarrus Middle School Middle Regular 905 58 4
Northwest Cabarrus High School High Regular 1,198 72 3

Winecoff Elementary School

  • Education Level: Primary
  • # of students: 904
  • # of teachers: 58
2
GreatSchools Rating

Northwest Cabarrus Middle School

  • Education Level: Middle
  • # of students: 905
  • # of teachers: 58
4
GreatSchools Rating

Northwest Cabarrus High School

  • Education Level: High
  • # of students: 1,198
  • # of teachers: 72
3
GreatSchools Rating
 

$211,500$258,500$235,000

PURCHASE PRICE

$1,161$1,419$1,290

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,290
EXPENSES Loan Payment -$816
Property Tax -$200
Property Insurance -$58
Property Management Fees -$119
CASH FLOW
$97

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.

$235,000

PROJECTED PRICE

$1,290

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 5.3%
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

PROJECTED ANNUAL CASH FLOW

11530$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$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$68,025

INVESTMENT

$68,025

Down Payment
$58,750
Rehab Estimate
$5,750
Closing Costs
$3,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$816

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $58,750
Loan Amount $176,250
See What Happens When You Reinvest Cash Flow

7.33

YEARS SAVED

$20,768

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,290

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $1,472

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,290
1$1,2902$1,3203$1,3754$1,4995$1,625
$1,625
RENT COMPS ANALYSIS
  • 104 Easy Street Concord, NC 1
    • 3 beds 2 baths ∙ 1,654 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,654 Sqft ∙ Built 1960
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,290
    • $0.78
    •  
  • 2231 Oakhurst Court Kannapolis, NC 2
    • 3 beds 3 baths ∙ 1,430 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,430 Sqft ∙ Built 2001
    property image
    LEASED 12/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,320
    • $0.92
    •  
  • 200 Little Street Kannapolis, NC 3
    • 4 beds 3 baths ∙ 1,660 Sqft ∙ Built 2019 4 beds 3 baths ∙ 1,660 Sqft ∙ Built 2019
    property image
    LEASED 01/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.83
    •  
  • 118 Newport Drive Charlotte, NC 4
    • 3 beds 3 baths ∙ 1,690 Sqft ∙ Built 3 beds 3 baths ∙ 1,690 Sqft ∙ Built
    property image
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,499
    • $0.89
    •  
  • 106 Newport Drive Kannapolis, NC 5
    • 4 beds 3 baths ∙ 1,760 Sqft ∙ Built 2005 4 beds 3 baths ∙ 1,760 Sqft ∙ Built 2005
    property image
    LEASED 02/26/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.92
    •  
PROPERTY LISTING DETAILS
Drew Maher
1.704.258.9227
Dm Properties & Associates
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3700356
Last Updated: 03/04/2021
BESbswy