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

10404 Carver Falls Road Charlotte, NC 28214

3 Beds 3 Baths 2,458 sqft Built 2005

$295,000

List Price

$1,600

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $120.02
  • 2 Days on Market
  • MLS # : 3682208
  • Updated Date : 11/14/2020 at 13:39
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,458 sqft
  • Baths : 2 full , 1 half
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

CHARMING and WELCOMING, this 3 bed/2.5 bath + LARGE BONUS room home is located in the desirable Riverbend neighborhood! Minutes away from Mt Island Lake and convenient access to Hwy 16, I-85, and I-485! This home offers a spacious and open, but cozy floor plan! The main floor has an abundance of windows, hardwoods as you walk in and to the kitchen, a large office/flex space at the front of the house, stunning formal dining room, and a kitchen complete with beautiful cabinetry, granite countertops, & SS appliances and open to the living room. Upstairs, you will love the huge master bedroom suite complete with an attractive tray ceiling and warm dark walls, a large bonus room that with a closet addition, could easily be converted to a 4th bedroom, and nice size secondary rooms. Outside you will enjoy a covered front porch and a large back deck overlooking the wooded, easy to maintain, backyard. Don't miss out on all that this home and the Riverbend community have to offer! Welcome home!

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: 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
 

$265,500$324,500$295,000

PURCHASE PRICE

$1,440$1,760$1,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,600
EXPENSES Loan Payment -$1,088
Property Tax -$257
Property Insurance -$73
HOA -$50
Property Management Fees -$144
CASH FLOW
-$13

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.

$295,000

PROJECTED PRICE

$1,600

PROJECTED RENT

0.54%

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

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$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$83,925

INVESTMENT

$83,925

Down Payment
$73,750
Rehab Estimate
$5,750
Closing Costs
$4,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,088

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $73,750
Loan Amount $221,250
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$12,525

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,600

    LIST RENT
  • $0.65

    LIST RENT PER SQFT
  • $1,647

    COMP ESTIMATED VALUE
  • $0.67

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6003$1,6504$1,6505$1,700
$1,700
RENT COMPS ANALYSIS
  • 10404 Carver Falls Road Charlotte, NC 2
    • 3 beds 3 baths ∙ 2,458 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,458 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.65
    •  
  • 9540 Brighthaven Lane Charlotte, NC 1
    • 3 beds 3 baths ∙ 2,430 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,430 Sqft ∙ Built 2006
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.66
    •  
  • 10233 Broken Stone Court Charlotte, NC 3
    • 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 4
    • 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
    •  
  • 10317 Old Carolina Drive Charlotte, NC 5
    • 4 beds 3 baths ∙ 2,566 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,566 Sqft ∙ Built 2002
    LEASED 08/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.66
    •  
PROPERTY LISTING DETAILS
Kaitlyn Cofty
1.704.989.6114
Coldwell Banker Realty
BESbswy