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10519 Alvarado Way Charlotte, NC 28277

3 Beds 3 Baths 2,086 sqft Built 2006

$400,000

List Price

$2,110

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $191.75
  • 10 Days on Market
  • MLS # : 3720341
  • Updated Date : 03/27/2021 at 17:04
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,086 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Fort Mill

Listing Agent's Description

Multiple offers received. Highest and best by Sunday at 7pm. Gorgeous home in one of the most desirable neighborhoods. Rocking Chair front porch. Open Floor plan with brand new 5" hardwoods throughout the first floor and new carpet on the second floor. White kitchen cabinets with granite countertops and tile backsplash. First floor office. Fresh Neutral paint. Custom master closet. Brand new AC unit and roof in 2020. Large detached 2 car garage, This neighborhood is close to EVERYTHING- Waverly, Providence, Stonecrest, 485, highly rated schools, walking trails, etc. HOA covers lawn maintenance. You will love living here!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Stone Creek Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380k400k420kPrice in $116k425k

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

Neighborhood: Stone Creek Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600170018001900200021002200Rent in $8442254

* 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
Polo Ridge Elementary School Primary Regular 1,036 55 NA
Jay M. Robinson Middle School Middle Regular 1,101 51 10
Ardrey Kell High School High Regular 2,701 127 9

Polo Ridge Elementary School

  • Education Level: Primary
  • # of students: 1,036
  • # of teachers: 55
NA
GreatSchools Rating

Jay M. Robinson Middle School

  • Education Level: Middle
  • # of students: 1,101
  • # of teachers: 51
10
GreatSchools Rating

Ardrey Kell High School

  • Education Level: High
  • # of students: 2,701
  • # of teachers: 127
9
GreatSchools Rating
 

$360,000$440,000$400,000

PURCHASE PRICE

$1,899$2,321$2,110

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,110
EXPENSES Loan Payment -$1,389
Property Tax -$349
Property Insurance -$66
Property Management Fees -$119
CASH FLOW
$186

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.

$400,000

PROJECTED PRICE

$2,110

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 5.7%
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$1.4M

PROJECTED ANNUAL CASH FLOW

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

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$111,750

INVESTMENT

$111,750

Down Payment
$100,000
Rehab Estimate
$5,750
Closing Costs
$6,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,389

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $100,000
Loan Amount $300,000
See What Happens When You Reinvest Cash Flow

8.08

YEARS SAVED

$42,362

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,110

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $2,112

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$2,0003$2,0954$2,1105$2,150
$2,150
RENT COMPS ANALYSIS
  • 10519 Alvarado Way Charlotte, NC 4
    • 3 beds 3 baths ∙ 2,086 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,086 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $2,110
    • $1.01
    •  
  • 10345 Alvarado Way Charlotte, NC 1
    • 3 beds 3 baths ∙ 1,924 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,924 Sqft ∙ Built 2005
    LEASED 08/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.94
    •  
  • 6518 Del Rio Road Charlotte, NC 2
    • 3 beds 3 baths ∙ 1,967 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,967 Sqft ∙ Built 2006
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.02
    •  
  • 10431 Alvarado Way Charlotte, NC 3
    • 3 beds 3 baths ∙ 2,000 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,000 Sqft ∙ Built 2006
    LEASED 03/06/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $1.05
    •  
  • 10333 Alvarado Way Charlotte, NC 5
    • 3 beds 3 baths ∙ 2,072 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,072 Sqft ∙ Built 2007
    LEASED 07/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.04
    •  
PROPERTY LISTING DETAILS
Mikael Mcdaniel
1.803.493.8759
Keller Williams Fort Mill
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3720341
Last Updated: 03/27/2021
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