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107 Glendale Avenue Se Concord, NC 28025

5 Beds 3 Baths 2,605 sqft Built 1940

$322,000

List Price

$1,690

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1940
  • Price/Sqft : $123.61
  • 3 Days on Market
  • MLS # : 3710404
  • Updated Date : 02/20/2021 at 16:52
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,605 sqft
  • Baths : 3 full
Listing Agent

Craven & Company, Realtors

Listing Agent's Description

Lovingly-maintained property in a most desirable neighborhood! This manicured corner lot offers stone entry accents, covered porches & new walkway to double, detached garage. Hardwood & original tile bath floors define this pristine home. New windows have been added throughout residence. New plumbing including pipes taken to street. Dwelling was originally a 3 Bedroom until current owner completed unfinished attic to provide additional bedroom/bath spaces. Bedrooms 4 & 5 offer hanging space -vs- closets but share 2 large walk-in closets just outside doors. Side door entry has mud room/drop zone with adjoining, updated kitchen featuring maple cabinetry & granite tops & multi-windowed breakfast room beyond. Spacious gathering spaces are offered in Living & Formal Dining. Master Bath has new double vanity & spacious walk-in shower. Each of three baths are nicely updated. So much charm exists within!

SEE MORE

MARKET HIGHLIGHTS

  • 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: Hillcrest

ZipNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210kPrice in $104k216k

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

Neighborhood: Hillcrest

ZipNIR Market*CityMarket2010Year20002019 Q280085090095010001050110011501200125013001350Rent in $7511375

* 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
R B Mcallister Elementary School Primary Regular 280 16 4
Concord Middle School Middle Regular 922 62 2
Concord High School High Regular 1,252 79 3

R B Mcallister Elementary School

  • Education Level: Primary
  • # of students: 280
  • # of teachers: 16
4
GreatSchools Rating

Concord Middle School

  • Education Level: Middle
  • # of students: 922
  • # of teachers: 62
2
GreatSchools Rating

Concord High School

  • Education Level: High
  • # of students: 1,252
  • # of teachers: 79
3
GreatSchools Rating
 

$289,800$354,200$322,000

PURCHASE PRICE

$1,521$1,859$1,690

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,690
EXPENSES Loan Payment -$1,118
Property Tax -$340
Property Insurance -$76
Property Management Fees -$119
CASH FLOW
$36

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.

$322,000

PROJECTED PRICE

$1,690

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 4.0%
Maintenance Year (1-5) 8.00%
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

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$91,080

INVESTMENT

$91,080

Down Payment
$80,500
Rehab Estimate
$5,750
Closing Costs
$4,830

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,118

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $80,500
Loan Amount $241,500
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$18,768

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,690

    LIST RENT
  • $0.65

    LIST RENT PER SQFT
  • $1,537

    COMP ESTIMATED VALUE
  • $0.59

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,690
$1,690
RENT COMPS ANALYSIS
  • 107 Glendale Avenue Se Concord, NC 2
    • 5 beds 3 baths ∙ 2,605 Sqft ∙ Built 1940 5 beds 3 baths ∙ 2,605 Sqft ∙ Built 1940
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $0.65
    •  
  • 745 Union Street S Concord, NC 1
    • 4 beds 2 baths ∙ 2,354 Sqft ∙ Built 1948 4 beds 2 baths ∙ 2,354 Sqft ∙ Built 1948
    LEASED 03/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.59
    •  
PROPERTY LISTING DETAILS
Deborah Fink
1.704.467.3049
Craven & Company, Realtors
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3710404
Last Updated: 02/20/2021
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