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105 Rockwood Drive Hendersonville, NC 28792

3 Beds 2 Baths 1,943 sqft Built 1978

$350,000

List Price

$2,210

$2K - $2.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1978
  • Price/Sqft : $180.13
  • 2 Days on Market
  • MLS # : CAR3709184
  • Updated Date : 07/12/2021 at 17:41
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,943 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Professionals

Listing Agent's Description

Amazing location in the heart of Apple Valley! The home is located in a wonderful area, sheltered with a forest of trees in the back of home. Short 10 minute scenic drive to the bustling shops and restaurants of Main St. Hendersonville. It's also an easy and gorgeous drive to Chimney Rock Village and State Park! This turnkey rancher sits on a level almost 2-acre lot in this quiet neighborhood. Abundant parking with attached large double car garage and driveway. Enjoy the screened in back porch overlooking nature. A fire pit and picnic shelter in the backyard creates a great place for gatherings, and for your enjoyment. Large master bedroom with updated en-suite bath. Two bedrooms share large bathroom. The spacious sunken living room has a gas fireplace with stone chimney. Easy access to !-26 and the airport. Less than 30 minutes to downtown Asheville. Book your showing today, and take a stroll through this wonderful home located in this neighborhood full of mature trees.

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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: Sherman Estates

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320kPrice in $89k326k

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

Neighborhood: Sherman Estates

NeighborhoodNIR Market*CityMarket2015Year2011 Q42019 Q29001000110012001300140015001600Rent in $8621662

* 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
Edneyville Elementary School Primary Regular 509 35 9
Apple Valley Middle School Middle Regular 904 57 5
North Henderson High School High Regular 1,089 67 8

Edneyville Elementary School

  • Education Level: Primary
  • # of students: 509
  • # of teachers: 35
9
GreatSchools Rating

Apple Valley Middle School

  • Education Level: Middle
  • # of students: 904
  • # of teachers: 57
5
GreatSchools Rating

North Henderson High School

  • Education Level: High
  • # of students: 1,089
  • # of teachers: 67
8
GreatSchools Rating
 

$315,000$385,000$350,000

PURCHASE PRICE

$1,989$2,431$2,210

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,210
EXPENSES Loan Payment -$1,216
Property Tax -$147
Property Insurance -$63
Property Management Fees -$119
CASH FLOW
$666

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 13% of earned rent to cover both maintenance and periods of vacancy.

$350,000

PROJECTED PRICE

$2,210

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 7.5%
Maintenance Year (1-5) 8.00%
Vacancy 5.20%
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$30k

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$98,500

INVESTMENT

$98,500

Down Payment
$87,500
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$1,216

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,500
Loan Amount $262,500
See What Happens When You Reinvest Cash Flow

14.25

YEARS SAVED

$81,892

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,210

    LIST RENT
  • $1.14

    LIST RENT PER SQFT
  • $2,681

    COMP ESTIMATED VALUE
  • $1.38

    COMP AVG. RENT PER SQFT
Comps Range
$2,210
1$2,2102$2,300
$2,300
RENT COMPS ANALYSIS
  • 105 Rockwood Drive Hendersonville, NC 1
    • 3 beds 2 baths ∙ 1,943 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,943 Sqft ∙ Built 1978
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,210
    • $1.14
    •  
  • 35 Copper Court Hendersonville, NC 2
    • 3 beds 2 baths ∙ 1,816 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,816 Sqft ∙ Built 2008
    property image
    LEASED 03/29/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.27
    •  
PROPERTY LISTING DETAILS
Jason Martini
1.828.515.1771
Keller Williams Professionals
BESbswy