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

10419 Landon Street Charlotte, NC 28215

3 Beds 1 Baths 960 sqft Built 1996

$170,000

List Price

$900

$810 - $990

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $177.08
  • 3 Days on Market
  • MLS # : 3688683
  • Updated Date : 12/04/2020 at 16:14
CONSTRUCTION
  • Beds : 3
  • Floor Size : 960 sqft
  • Baths : 1 full
Listing Agent

Morgan, Realtors

Listing Agent's Description

3 bed/1 bath ranch home on large lot in Harrisburg school district! This home is minutes away from I485, restaurants, shopping, grocery and more. Live in the heart of it all for the price that you desire. Inside enjoy an open floor plan and outside enjoy an oversized lot with plenty of room for entertaining, maybe a future fire pit for the cold winter nights?? Refrigerator, washer, and dryer to remain with the home.

SEE MORE

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: Cabarrus Woods

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300kPrice in $84k318k

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

Neighborhood: Cabarrus Woods

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500160017001800Rent in $7461809

* 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
Patriots Elementary School Primary Regular 893 50 NA
Hickory Ridge Middle School Middle Regular 1,164 65 NA
Hickory Ridge High School High Regular 1,573 77 7

Patriots Elementary School

  • Education Level: Primary
  • # of students: 893
  • # of teachers: 50
NA
GreatSchools Rating

Hickory Ridge Middle School

  • Education Level: Middle
  • # of students: 1,164
  • # of teachers: 65
NA
GreatSchools Rating

Hickory Ridge High School

  • Education Level: High
  • # of students: 1,573
  • # of teachers: 77
7
GreatSchools Rating
 

$153,000$187,000$170,000

PURCHASE PRICE

$810$990$900

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $900
EXPENSES Loan Payment -$627
Property Tax -$93
Property Insurance -$45
Property Management Fees -$119
CASH FLOW
$15

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$170,000

PROJECTED PRICE

$900

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 7.6%
Maintenance Year (1-5) 8.00%
Vacancy 6.31%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$50,800

INVESTMENT

$50,800

Down Payment
$42,500
Rehab Estimate
$5,750
Closing Costs
$2,550

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$627

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $42,500
Loan Amount $127,500
See What Happens When You Reinvest Cash Flow

6.58

YEARS SAVED

$15,478

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $900

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $907

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$900
1$9002$1,1003$1,260
$1,260
RENT COMPS ANALYSIS
  • 10419 Landon Street Charlotte, NC 1
    • 3 beds 1 baths ∙ 960 Sqft ∙ Built 1996 3 beds 1 baths ∙ 960 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $900
    • $0.94
    •  
  • 11223 Gold Pan Road Charlotte, NC 2
    • 3 beds 2 baths ∙ 1,180 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,180 Sqft ∙ Built 2000
    LEASED 01/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.93
    •  
  • 10104 Rockwood Road Charlotte, NC 3
    • 3 beds 2 baths ∙ 1,307 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,307 Sqft ∙ Built 2002
    LEASED 10/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,260
    • $0.96
    •  
PROPERTY LISTING DETAILS
Mallory Caudle
1.704.746.1261
Morgan, Realtors
BESbswy