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

1045 Thoroughbred Drive Iron Station, NC 28080

5 Beds 4 Baths 2,728 sqft Built 2021

$449,933

List Price

$2,340

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
SINGLE-FAMILY
July 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $164.93
  • 2 Days on Market
  • MLS # : CAR3759014
  • Updated Date : 07/12/2021 at 15:44
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,728 sqft
  • Baths : 4 full
Listing Agent

Dr Horton Inc

Listing Agent's Description

This home is the Denver area's hottest new community, The Farm at Ingleside! The community will include a large club house with activity rooms, fitness center, pool, playground and walking trails. This is an open floor plan that includes granite counter tops in the kitchen and all the baths, tile back splash & stainless appliances in the kitchen; extensive moldings throughout the home; RevWood floors in the entry hall, family room, dining and kitchen. On Demand Tankless Water heater and "Home is Connected" Package is included!

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

Zip Code: 28080

ZipNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200k210kPrice in $85k218k

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

Zip Code: 28080

ZipNIR Market*CityMarket2010Year20002019 Q285090095010001050110011501200125013001350Rent in $8161375

* 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
Catawba Springs Elementary School Primary Regular 517 33 7
East Lincoln Middle School Middle Regular 692 40 8
East Lincoln High School High Regular 924 51 4

Catawba Springs Elementary School

  • Education Level: Primary
  • # of students: 517
  • # of teachers: 33
7
GreatSchools Rating

East Lincoln Middle School

  • Education Level: Middle
  • # of students: 692
  • # of teachers: 40
8
GreatSchools Rating

East Lincoln High School

  • Education Level: High
  • # of students: 924
  • # of teachers: 51
4
GreatSchools Rating
 

$404,940$494,926$449,933

PURCHASE PRICE

$2,106$2,574$2,340

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,340
EXPENSES Loan Payment -$1,563
Property Tax -$230
Property Insurance -$79
HOA -$63
Property Management Fees -$119
CASH FLOW
$287

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$449,933

PROJECTED PRICE

$2,340

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 7.5%
Maintenance Year (1-5) 3.00%
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$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$121,232

INVESTMENT

$121,232

Down Payment
$112,483
Rehab Estimate
$2,000
Closing Costs
$6,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$1,563

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $112,483
Loan Amount $337,450
See What Happens When You Reinvest Cash Flow

9.08

YEARS SAVED

$58,514

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,340

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $2,210

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$2,2003$2,340
$2,340
RENT COMPS ANALYSIS
  • 1045 Thoroughbred Drive Iron Station, NC 3
    • 5 beds 4 baths ∙ 2,728 Sqft ∙ Built 2021 5 beds 4 baths ∙ 2,728 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $2,340
    • $0.86
    •  
  • 184 Rocky Knoll Court Denver, NC 1
    • 4 beds 3 baths ∙ 2,395 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,395 Sqft ∙ Built 1996
    LEASED 01/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.71
    •  
  • 434 Secretariat Drive Iron Station, NC 2
    • 4 beds 3 baths ∙ 2,428 Sqft ∙ Built 2021 4 beds 3 baths ∙ 2,428 Sqft ∙ Built 2021
    LEASED 01/18/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.91
    •  
PROPERTY LISTING DETAILS
Amanda Chaney
1.704.451.4456
Dr Horton Inc
BESbswy