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1059 Amberley Crossing Drive Belmont, NC 28012

4 Beds 3 Baths 2,787 sqft Built 2020

$375,900

List Price

$2,070

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $134.88
  • 4 Days on Market
  • MLS # : 3688537
  • Updated Date : 12/03/2020 at 16:18
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,787 sqft
  • Baths : 2 full , 1 half
Listing Agent

Meritage Homes Of The Carolina

Listing Agent's Description

Brand NEW Energy-Efficient home ready March 2021! Savannah plan two-story foyer, useful flex space, walk-in pantry, and sizeable secondary bedrooms surrounding a loft. 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

  • 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: 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
 

$338,310$413,490$375,900

PURCHASE PRICE

$1,863$2,277$2,070

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,070
EXPENSES Loan Payment -$1,387
Property Tax -$265
Property Insurance -$80
HOA -$62
Property Management Fees -$119
CASH FLOW
$158

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.

$375,900

PROJECTED PRICE

$2,070

PROJECTED RENT

0.55%

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$1.2M

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$101,614

INVESTMENT

$101,614

Down Payment
$93,975
Rehab Estimate
$2,000
Closing Costs
$5,639

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,387

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $93,975
Loan Amount $281,925
See What Happens When You Reinvest Cash Flow

7.5

YEARS SAVED

$42,173

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,070

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $2,104

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,9453$2,0704$2,0955$2,450
$2,450
RENT COMPS ANALYSIS
  • 1059 Amberley Crossing Drive Belmont, NC 3
    • 4 beds 3 baths ∙ 2,787 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,787 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,070
    • $0.74
    •  
  • 2566 Shannon Drive Belmont, NC 1
    • 4 beds 3 baths ∙ 2,500 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,500 Sqft ∙ Built 2004
    property image
    LEASED 07/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.74
    •  
  • 2800 Shannon Drive Belmont, NC 2
    • 4 beds 3 baths ∙ 2,600 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,600 Sqft ∙ Built 2006
    property image
    LEASED 07/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,945
    • $0.75
    •  
  • 303 Southfork Lane Belmont, NC 4
    • 5 beds 3 baths ∙ 2,878 Sqft ∙ Built 2017 5 beds 3 baths ∙ 2,878 Sqft ∙ Built 2017
    property image
    LEASED 01/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.73
    •  
  • 6013 Thorburn Way Belmont, NC 5
    • 5 beds 4 baths ∙ 3,068 Sqft ∙ Built 2012 5 beds 4 baths ∙ 3,068 Sqft ∙ Built 2012
    property image
    LEASED 10/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.80
    •  
PROPERTY LISTING DETAILS
Jimmy Mcclurg
1.704.969.0153
Meritage Homes Of The Carolina
BESbswy