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10433 Baskerville Avenue Charlotte, NC 28269

4 Beds 3 Baths 2,485 sqft Built 1998

$340,000

List Price

$1,800

$1.6K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $136.82
  • 2 Days on Market
  • MLS # : CAR3761183
  • Updated Date : 07/12/2021 at 17:08
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,485 sqft
  • Baths : 2 full , 1 half
Listing Agent

Wilkinson Era Real Estate

Listing Agent's Description

This gorgeous, well maintained home has it all! Open floor plan with grand high ceiling in the foyer. The main level includes a large family room with gas fireplace, kitchen with stainless steel appliances and granite countertops. Breakfast nook with bay windows that look out to a huge back yard. Private dining room, office/sitting room, half-bath and spacious laundry room. Main level also includes laminate floors throughout. Upstairs is a spacious master bedroom with on suite bath and large walk-in closet. Three secondary bedrooms, of which, one can be used as a bonus or theater room and a full bath. Also includes a large, fenced in backyard with mature trees, attached deck and storage shed. This home sits in the quiet cul de sac. Roof was replaced in 2012 and hot water heater in 2017. This North Charlotte home is located in the sought after Hayden Commons community surrounded by lots of shopping, restaurants, i-485 and i-85 highways.

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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: Prosperity Church Road

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $116k318k

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

Neighborhood: Prosperity Church Road

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
Croft Community School Primary Regular 644 35 NA
Ridge Road Middle School Middle Regular 1,285 65 6
Mallard Creek High School High Regular 2,472 123 6

Croft Community School

  • Education Level: Primary
  • # of students: 644
  • # of teachers: 35
NA
GreatSchools Rating

Ridge Road Middle School

  • Education Level: Middle
  • # of students: 1,285
  • # of teachers: 65
6
GreatSchools Rating

Mallard Creek High School

  • Education Level: High
  • # of students: 2,472
  • # of teachers: 123
6
GreatSchools Rating
 

$306,000$374,000$340,000

PURCHASE PRICE

$1,620$1,980$1,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,800
EXPENSES Loan Payment -$1,181
Property Tax -$296
Property Insurance -$74
HOA -$13
Property Management Fees -$119
CASH FLOW
$117

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.

$340,000

PROJECTED PRICE

$1,800

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 6.4%
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$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

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$95,850

INVESTMENT

$95,850

Down Payment
$85,000
Rehab Estimate
$5,750
Closing Costs
$5,100

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,181

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $85,000
Loan Amount $255,000
See What Happens When You Reinvest Cash Flow

7.42

YEARS SAVED

$31,399

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,800

    LIST RENT
  • $0.72

    LIST RENT PER SQFT
  • $1,789

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$1,745
1$1,7452$1,7503$1,8004$1,9755$1,995
$1,995
RENT COMPS ANALYSIS
  • 10433 Baskerville Avenue Charlotte, NC 3
    • 4 beds 3 baths ∙ 2,485 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,485 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.72
    •  
  • 10437 Baskerville Avenue Charlotte, NC 1
    • 4 beds 3 baths ∙ 2,564 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,564 Sqft ∙ Built 1999
    LEASED 08/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,745
    • $0.68
    •  
  • 4509 Highcroft Lane Charlotte, NC 2
    • 4 beds 3 baths ∙ 2,663 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,663 Sqft ∙ Built 1997
    LEASED 12/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.66
    •  
  • 5122 Keels Court Charlotte, NC 4
    • 5 beds 3 baths ∙ 2,593 Sqft ∙ Built 2003 5 beds 3 baths ∙ 2,593 Sqft ∙ Built 2003
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $0.76
    •  
  • 2121 Highland Knoll Drive Charlotte, NC 5
    • 4 beds 4 baths ∙ 2,565 Sqft ∙ Built 2020 4 beds 4 baths ∙ 2,565 Sqft ∙ Built 2020
    LEASED 09/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.78
    •  
PROPERTY LISTING DETAILS
Diane Glenn
1.704.806.4424
Wilkinson Era Real Estate
BESbswy