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10612 Haddington Drive Nw Charlotte, NC 28269

5 Beds 3 Baths 2,525 sqft Built 2002

$350,000

List Price

$1,810

$1.6K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $138.61
  • 2 Days on Market
  • MLS # : 3720358
  • Updated Date : 03/20/2021 at 13:06
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,525 sqft
  • Baths : 3 full
Listing Agent

Exp Realty Llc

Listing Agent's Description

DO NOT MISS THIS!! Welcome to your beautiful 5-bedroom, 3 bath home located in the HIGHLY sought-after Highland Creek neighborhood. This gorgeous home located in the Cabarrus County school zone, features a beautiful kitchen complete with stunning granite counter tops and breakfast bar, that overlook the open concept living room with gas fireplace. A downstairs guest bedroom with en-suite full bathroom, as well as a large bonus room which can double as a playroom, office, or 2nd living area completes the downstairs. Upstairs, you will find your spacious owner's suite with his and hers walk-in closets, an owner's bath en suite featuring a water closet toilet, PLUS his and hers sinks! 3 more large sized bedrooms, a spacious laundry room, and ANTOHER full bath complete the upstairs! This home backs onto the Highland Creek Golf Course which can be viewed and enjoyed from either your poured patio OR beautiful back deck. In addition, the kitchen refrigerator, washer, and dryer convey.

SEE MORE

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: Haddington

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $116k318k

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

Neighborhood: Haddington

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8441809

* 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
Cox Mill Elementary School Primary Regular 1,112 61 9
Harris Road Middle School Middle Regular 1,185 63 9
Cox Mill High School High Regular 1,478 76 7

Cox Mill Elementary School

  • Education Level: Primary
  • # of students: 1,112
  • # of teachers: 61
9
GreatSchools Rating

Harris Road Middle School

  • Education Level: Middle
  • # of students: 1,185
  • # of teachers: 63
9
GreatSchools Rating

Cox Mill High School

  • Education Level: High
  • # of students: 1,478
  • # of teachers: 76
7
GreatSchools Rating
 

$315,000$385,000$350,000

PURCHASE PRICE

$1,629$1,991$1,810

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,810
EXPENSES Loan Payment -$1,216
Property Tax -$370
Property Insurance -$75
HOA -$54
Property Management Fees -$119
CASH FLOW
-$23

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.

$350,000

PROJECTED PRICE

$1,810

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 6.4%
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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$98,500

INVESTMENT

$98,500

Down Payment
$87,500
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,216

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,500
Loan Amount $262,500
See What Happens When You Reinvest Cash Flow

5.08

YEARS SAVED

$18,091

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,810

    LIST RENT
  • $0.72

    LIST RENT PER SQFT
  • $1,900

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,7003$1,7004$1,8105$2,000
$2,000
RENT COMPS ANALYSIS
  • 10612 Haddington Drive Nw Charlotte, NC 4
    • 5 beds 3 baths ∙ 2,525 Sqft ∙ Built 2002 5 beds 3 baths ∙ 2,525 Sqft ∙ Built 2002
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,810
    • $0.72
    •  
  • 10434 Haddington Drive Charlotte, NC 1
    • 4 beds 3 baths ∙ 2,228 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,228 Sqft ∙ Built 2002
    property image
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.74
    •  
  • 1312 Crestfield Court Charlotte, NC 2
    • 4 beds 3 baths ∙ 2,293 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,293 Sqft ∙ Built 2002
    property image
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.74
    •  
  • 5705 Whitegate Lane Charlotte, NC 3
    • 4 beds 3 baths ∙ 2,267 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,267 Sqft ∙ Built 1997
    property image
    LEASED 08/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.75
    •  
  • 8209 Laurel Run Drive Charlotte, NC 5
    • 4 beds 3 baths ∙ 2,621 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,621 Sqft ∙ Built 2001
    property image
    LEASED 12/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.76
    •  
PROPERTY LISTING DETAILS
Jordan Guy
1.980.406.4334
Exp Realty Llc
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3720358
Last Updated: 03/20/2021
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