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PROPERTY INFO
FACTS
- Single Family
- Built In 2002
- Price/Sqft : $117.17
- 3 Days on Market
- MLS # : 3708887
- Updated Date : 02/19/2021 at 17:08
CONSTRUCTION
- Beds : 3
- Floor Size : 2,406 sqft
- Baths : 2 full , 1 half
Listing Agent
Keller Williams South Park
Listing Agent's Description
Get ready to own this fantastic home in Catawba River Plantation subdivision that features 3 bedrooms and 2.5 baths in its two-level story floorplan. Upon entry, you'll notice the inviting dining area and a nearby gourmet kitchen perfect for prepping and enjoying meals. It then opens up to a spacious living area accentuated with a cozy fireplace. A fantastic sunroom filled with natural lights emanating from the large windows highlights the main floor too! After a long tiring day, rest in the cozy primary suite that boasts an efficient ensuite and walk-in closet, along with the 2 additional bedrooms made available for guests. It also features a beautiful porch and an open backyard perfect for your outdoor activities or gatherings. Don't wait! Schedule your private tour now.
SEE MORE
- 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: Harwood Lane
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Harwood Lane
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,450 |
| EXPENSES | Loan Payment | -$979 |
| Property Tax | -$246 | |
| Property Insurance | -$72 | |
| HOA | -$33 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$0
|
||
This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.
$281,900
PROJECTED PRICE
$1,450
PROJECTED RENT
0.51%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 2.98% |
| Appreciation Year (1-5) | 8.4% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.57% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$80,454
LOAN DETAILS
$979
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $70,475 |
| Loan Amount | $211,425 |
5
YEARS SAVED
$14,332
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,450
LIST RENT -
$0.6
LIST RENT PER SQFT
-
$1,606
COMP ESTIMATED VALUE -
$0.67
COMP AVG. RENT PER SQFT
Comps Range
-
1061 Chalk Hill Lane Charlotte, NC 2
- 3 beds 3 baths ∙ 2,406 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,406 Sqft ∙ Built 2002
- Rent
- Rent Per SQFT
- $1,450
- $0.60
-
10223 Seedling Lane Charlotte, NC 1
- 4 beds 3 baths ∙ 2,080 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,080 Sqft ∙ Built 2002
LEASED 12/19/19- Rent
- Rent Per SQFT
- $1,399
- $0.67
-
711 Pawley Drive Charlotte, NC 3
- 4 beds 3 baths ∙ 2,200 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,200 Sqft ∙ Built 2001
LEASED 10/01/20- Rent
- Rent Per SQFT
- $1,500
- $0.68
-
11539 Carnsore Court Charlotte, NC 4
- 4 beds 3 baths ∙ 2,364 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,364 Sqft ∙ Built 2003
LEASED 05/13/20- Rent
- Rent Per SQFT
- $1,565
- $0.66
-
1516 Bray Drive Charlotte, NC 5
- 3 beds 3 baths ∙ 2,542 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,542 Sqft ∙ Built 2007
LEASED 03/17/20- Rent
- Rent Per SQFT
- $1,595
- $0.63
PROPERTY LISTING DETAILS
1.704.628.4066
Keller Williams South Park
MLS #: 3708887
Last Updated: 02/19/2021
