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10430 Sardis Oaks Road #3 Charlotte, NC 28270

3 Beds 3 Baths 1,848 sqft Built 1983

$305,000

List Price

$1,550

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $165.04
  • 4 Days on Market
  • MLS # : 3719038
  • Updated Date : 03/19/2021 at 13:25
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,848 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams South Park

Listing Agent's Description

*** MULTIPLE OFFERS RECEIVED: Highest & Best due Sunday 3/21 at 8p *** You'll love coming home to this charming 2-story house sitting on almost 1/2 an acre - perfect for entertaining & privacy! Located in Sardis Forest, a well-established neighborhood that truly FEELS like you're in the forest! 20-minutes to Uptown Charlotte, 10-minutes to downtown Matthews, and just as close to everywhere else you want to be. McAlpine Creek Greenway only 1.5 miles away and the neighborhood park is less than a 0.5 mile walk. New in the last 3 years: windows and blinds, electric water heater, LVP flooring in downstairs, all toilets. All appliances stay with acceptable offer. No known issues with fireplace, but being sold "as-is". Showings to start Friday 3/19 at 10a.

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: Sardis Woods

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $110k318k

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

Neighborhood: Sardis Woods

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8441809

* 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
Greenway Park Elementary School Primary Regular 605 38 3
Mcclintock Middle School Middle Regular 855 55 3
East Mecklenburg High School High Regular 1,840 111 6

Greenway Park Elementary School

  • Education Level: Primary
  • # of students: 605
  • # of teachers: 38
3
GreatSchools Rating

Mcclintock Middle School

  • Education Level: Middle
  • # of students: 855
  • # of teachers: 55
3
GreatSchools Rating

East Mecklenburg High School

  • Education Level: High
  • # of students: 1,840
  • # of teachers: 111
6
GreatSchools Rating
 

$274,500$335,500$305,000

PURCHASE PRICE

$1,395$1,705$1,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,550
EXPENSES Loan Payment -$1,059
Property Tax -$288
Property Insurance -$62
Property Management Fees -$119
CASH FLOW
$21

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.

$305,000

PROJECTED PRICE

$1,550

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 7.9%
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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

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

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$86,575

INVESTMENT

$86,575

Down Payment
$76,250
Rehab Estimate
$5,750
Closing Costs
$4,575

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,059

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $76,250
Loan Amount $228,750
See What Happens When You Reinvest Cash Flow

5.92

YEARS SAVED

$20,378

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,550

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,571

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,6503$1,6504$1,6755$1,700
$1,700
RENT COMPS ANALYSIS
  • 10430 Sardis Oaks Road Charlotte, NC 1
    • 3 beds 3 baths ∙ 1,848 Sqft ∙ Built 1983 3 beds 3 baths ∙ 1,848 Sqft ∙ Built 1983
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.84
    •  
  • 828 Ingraham Place Charlotte, NC 2
    • 3 beds 3 baths ∙ 1,909 Sqft ∙ Built 1979 3 beds 3 baths ∙ 1,909 Sqft ∙ Built 1979
    property image
    LEASED 09/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.86
    •  
  • 701 Bethune Place Matthews, NC 3
    • 4 beds 3 baths ∙ 1,958 Sqft ∙ Built 1979 4 beds 3 baths ∙ 1,958 Sqft ∙ Built 1979
    property image
    LEASED 12/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.84
    •  
  • 8237 Brynmar Drive Charlotte, NC 4
    • 3 beds 3 baths ∙ 1,990 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,990 Sqft ∙ Built 1988
    property image
    LEASED 03/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.84
    •  
  • 713 Hammermill Court Charlotte, NC 5
    • 4 beds 3 baths ∙ 1,988 Sqft ∙ Built 1978 4 beds 3 baths ∙ 1,988 Sqft ∙ Built 1978
    property image
    LEASED 12/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.86
    •  
PROPERTY LISTING DETAILS
Kristin Garber
1.704.776.6017
Keller Williams South Park
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3719038
Last Updated: 03/19/2021
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