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1057 Amberley Crossing Drive Belmont, NC 28012

3 Beds 2 Baths 1,682 sqft Built 2020

$341,900

List Price

$1,620

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $203.27
  • 61 Days on Market
  • MLS # : 3672896
  • Updated Date : 12/11/2020 at 15:34
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,682 sqft
  • Baths : 2 full
Listing Agent

Meritage Homes Of The Carolina

Listing Agent's Description

Brand NEW Energy-Efficient home ready Feb-Mar 2021! Sprawling kitchen island, open-concept great room, and covered back patio. Spacious primary suite with walk-in closet. Linen cabinets with white quartz countertops, maple wood flooring with dark gray tweed carpet in our Divine package. Amberley is ideally situated in the heart of Belmont where you can enjoy the outdoors with kayaking along the South Fork Catawba River or a variety of shopping and dining options on Main Street in nearby downtown. Highly-rated Gaston County schools. Known for their energy efficient features, our homes help you live a healthier and quieter lifestyle, while saving you thousands of dollars on utility bills.

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: South Point

ZipNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210kPrice in $113k213k

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

Neighborhood: South Point

ZipNIR Market*CityMarket2010Year20002019 Q285090095010001050110011501200125013001350Rent in $8421396

* 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
Belmont Central Elementary School Primary Regular 678 35 7
Belmont Middle School Middle Regular 726 39 6
South Point High School High Regular 1,101 61 6

Belmont Central Elementary School

  • Education Level: Primary
  • # of students: 678
  • # of teachers: 35
7
GreatSchools Rating

Belmont Middle School

  • Education Level: Middle
  • # of students: 726
  • # of teachers: 39
6
GreatSchools Rating

South Point High School

  • Education Level: High
  • # of students: 1,101
  • # of teachers: 61
6
GreatSchools Rating
 

$307,710$376,090$341,900

PURCHASE PRICE

$1,458$1,782$1,620

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,620
EXPENSES Loan Payment -$1,261
Property Tax -$241
Property Insurance -$59
HOA -$62
Property Management Fees -$119
CASH FLOW
-$122

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.

$341,900

PROJECTED PRICE

$1,620

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 5.4%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$92,604

INVESTMENT

$92,604

Down Payment
$85,475
Rehab Estimate
$2,000
Closing Costs
$5,129

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,261

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $85,475
Loan Amount $256,425
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$12,316

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,620

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,611

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,6203$1,7504$1,8455$1,850
$1,850
RENT COMPS ANALYSIS
  • 1057 Amberley Crossing Drive Belmont, NC 2
    • 3 beds 2 baths ∙ 1,682 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,682 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,620
    • $0.96
    •  
  • 12 Henry Avenue Belmont, NC 1
    • 3 beds 1 baths ∙ 1,600 Sqft ∙ Built 1964 3 beds 1 baths ∙ 1,600 Sqft ∙ Built 1964
    property image
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.97
    •  
  • 711 South Point Road Belmont, NC 3
    • 3 beds 2 baths ∙ 1,900 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,900 Sqft ∙ Built 1973
    property image
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.92
    •  
  • 2730 Shannon Drive Belmont, NC 4
    • 3 beds 2 baths ∙ 1,900 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,900 Sqft ∙ Built 2005
    property image
    LEASED 06/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,845
    • $0.97
    •  
  • 1003 Damon Pointe Drive Belmont, NC 5
    • 3 beds 3 baths ∙ 1,964 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,964 Sqft ∙ Built 2002
    property image
    LEASED 10/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.94
    •  
PROPERTY LISTING DETAILS
Jimmy Mcclurg
1.704.969.0153
Meritage Homes Of The Carolina
BESbswy