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PROPERTY INFO
FACTS
- Single Family
- Built In 2004
- Price/Sqft : $138.13
- 8 Days on Market
- MLS # : 3691002
- Updated Date : 12/17/2020 at 10:09
CONSTRUCTION
- Beds : 3
- Floor Size : 2,675 sqft
- Baths : 2 full , 1 half
Listing Agent
Southern Homes Of The Carolinas
Listing Agent's Description
Large 3 Bedroom with additional loft/bonus area on upper level, Formal Dining and Living room with hardwood flooring on lower level and spacious family room with fireplace. The Kitchen is newly remolded with Granite Counters, Stone look tile backsplash and the kitchen and family room are getting new waterproof wood plank flooring on Tuesday Dec 15th. The Subdivision is close to everything and has many recreation features as well as shopping and dining options located at the Subdivision entrance.
SEE MORE
- 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: Oakhurst
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Oakhurst
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,850 |
| EXPENSES | Loan Payment | -$1,363 |
| Property Tax | -$272 | |
| Property Insurance | -$78 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$18
|
||
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.
$369,500
PROJECTED PRICE
$1,850
PROJECTED RENT
0.50%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.48% |
| Appreciation Year (1-5) | 7.1% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.31% |
| 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
$103,668
LOAN DETAILS
$1,363
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $92,375 |
| Loan Amount | $277,125 |
6.17
YEARS SAVED
$30,220
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,850
LIST RENT -
$0.69
LIST RENT PER SQFT
-
$2,006
COMP ESTIMATED VALUE -
$0.75
COMP AVG. RENT PER SQFT
Comps Range
-
10622 Quarrier Drive Cornelius, NC 2
- 3 beds 3 baths ∙ 2,675 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,675 Sqft ∙ Built 2004
- Rent
- Rent Per SQFT
- $1,850
- $0.69
-
9932 Westmoreland Road Cornelius, NC 1
- 4 beds 3 baths ∙ 2,532 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,532 Sqft ∙ Built 2001
LEASED 01/14/20- Rent
- Rent Per SQFT
- $1,750
- $0.69
-
10139 Allison Taylor Court Cornelius, NC 3
- 4 beds 3 baths ∙ 2,580 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,580 Sqft ∙ Built 2005
LEASED 06/29/20- Rent
- Rent Per SQFT
- $1,900
- $0.74
-
18714 Coverdale Court Cornelius, NC 4
- 3 beds 3 baths ∙ 2,520 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,520 Sqft ∙ Built 2003
LEASED 12/15/20- Rent
- Rent Per SQFT
- $1,935
- $0.77
-
18810 Coachmans Trace Cornelius, NC 5
- 3 beds 3 baths ∙ 2,497 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,497 Sqft ∙ Built 2003
LEASED 11/16/20- Rent
- Rent Per SQFT
- $2,050
- $0.82
PROPERTY LISTING DETAILS
1.704.200.5450
Southern Homes Of The Carolinas
