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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.

$101,614

Investment Est.

AVAILABLE

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AVAILABLE

1 Year
(+5.4%)
1 YR. PROJ. APPRECIATION


Cap Rate	4.4%
Cash Flow	$1,896
Value Increase	$20,369

10 YEAR

Cash On Cash	0.7%
Total Return	12.1%

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.

MARKET HIGHLIGHTS

Charlotte Market Report

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)

Neighborhood: South Point

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

Neighborhood: South Point

* 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

GreatSchools Rating

Belmont Middle School

Education Level: Middle
# of students: 726
# of teachers: 39

GreatSchools Rating

South Point High School

Education Level: High
# of students: 1,101
# of teachers: 61

GreatSchools Rating

FINANCIALS

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$338,310$413,49000$375,900

PURCHASE PRICE

$1,863$2,27700$2,070

RENT

DOWN PAYMENT

FINANCING

OFF ON

Acquisition Concierge

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PROPERTY

Expense Inflation	%
Vacancy	%
Length of Stay
Expense Inflation	%
Vacancy	%
Length of Stay

YEAR (1-5)

Appreciation	%
Rental Growth	%
Maintenance	%

YEAR (1-5)

Appreciation	%
Rental Growth	%
Maintenance	%

YEAR (6+)

Appreciation	%
Rental Growth	%
Maintenance	%

INVESTMENT

Rehab Costs
Reinvest Cash Flow	Yes No
Interest Rate	%

INVESTMENT

Rehab Costs
Reinvest Cash Flow	Yes No
Interest Rate	%

Learn how to read this

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

PROJECTED ANNUAL CASH FLOW

Tenant Turnover

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

Appreciation
Principal
Loan Balance

TOTAL CASH OUT OF POCKET

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

4.25%

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

2,787
PROPERTY SQFT
$0.75
AVG RENT PER SQFT
$2,104
ESTIMATED VALUE
$2,070
LIST RENT

1059 Amberley Crossing Drive Belmont, NC 2

4 beds 3 baths ∙ 2,787 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,787 Sqft ∙ Built 2020
Price

Price Per SQFT

$375,900

$134.88
1042 Mclaren Drive Belmont, NC 1

4 beds 3 baths ∙ 2,682 Sqft ∙ Built 2011 4 beds 3 baths ∙ 2,682 Sqft ∙ Built 2011
SOLD 09/18/20
Price

Price Per SQFT

$322,500

$120.25
104 Berkshire Avenue Belmont, NC 3

4 beds 2 baths ∙ 2,751 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,751 Sqft ∙ Built 2005
SOLD 11/03/20
Price

Price Per SQFT

$390,000

$141.77
1000 Belmont Village Drive Belmont, NC 4

4 beds 3 baths ∙ 2,713 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,713 Sqft ∙ Built 2017
SOLD 07/27/20
Price

Price Per SQFT

$412,000

$151.86
1065 Belmont Village Drive Belmont, NC 5

3 beds 3 baths ∙ 2,812 Sqft ∙ Built 2016 3 beds 3 baths ∙ 2,812 Sqft ∙ Built 2016
SOLD 07/17/20
Price

Price Per SQFT

$422,500

$150.25

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
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
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
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
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
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

1059 Amberley Crossing Drive Belmont, NC 28012

$375,900

$2,070

$101,614

REQUEST INFO

PROPERTY INFO

FACTS

CONSTRUCTION

Listing Agent

Listing Agent's Description

MARKET HIGHLIGHTS

PRICE & RENT TRENDS

SCHOOLS

Belmont Central Elementary School

Belmont Middle School

South Point High School

FINANCIALS

$338,310$413,49000$375,900

$1,863$2,27700$2,070

Acquisition Concierge

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

$375,900

$2,070

0.55%

PROJECTED ACCUMULATED WEALTH

PROJECTED ANNUAL CASH FLOW

PROJECTED PROPERTY VALUE

TOTAL CASH OUT OF POCKET

INVESTMENT

LOAN DETAILS

25%

$1,387

7.5

$42,173

$375,900

$134.88

$393,058

$141.03

COMPS RANGE

PRICE COMPS ANALYSIS

$2,070

$0.74

$2,104

$0.75

Comps Range

RENT COMPS ANALYSIS

PROPERTY LISTING DETAILS