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PROPERTY INFO
FACTS
- Single Family
- Built In 2004
- Price/Sqft : $160.18
- 16 Days on Market
- MLS # : 3705740
- Updated Date : 02/20/2021 at 17:08
CONSTRUCTION
- Beds : 3
- Floor Size : 1,248 sqft
- Baths : 2 full
Listing Agent
Our Town Realty
Listing Agent's Description
Say Hello to this beautiful custom-built home on a great corner lot with tons of space! The home features great hardwood floors, crown molding in most of the major living areas, neutral colors throughout, and ready for your furniture as this is move-in ready. The garage has two levels of cabinets for easy storage and still plenty of room for your vehicles. The home is pet-friendly and has a great pet door with access to the fenced backyard. A large storage building in the backyard is great for storage and tinkering! Come and see this beautiful home before it's gone!
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
Zip Code: 28625
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 28625
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,280 |
| EXPENSES | Loan Payment | -$694 |
| Property Tax | -$150 | |
| Property Insurance | -$51 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$266
|
||
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.
$199,900
PROJECTED PRICE
$1,280
PROJECTED RENT
0.64%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 2.98% |
| Appreciation Year (1-5) | 2.9% |
| 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
$58,724
LOAN DETAILS
$694
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $49,975 |
| Loan Amount | $149,925 |
11.67
YEARS SAVED
$36,622
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,280
LIST RENT -
$1.03
LIST RENT PER SQFT
-
$1,242
COMP ESTIMATED VALUE -
$1
COMP AVG. RENT PER SQFT
Comps Range
-
107 Treebark Road Statesville, NC 2
- 3 beds 2 baths ∙ 1,248 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,248 Sqft ∙ Built 2004
![property image]()
- Rent
- Rent Per SQFT
- $1,280
- $1.03
-
3082 Wilkesboro Highway Statesville, NC 1
- 3 beds 2 baths ∙ 1,207 Sqft ∙ Built 1967 3 beds 2 baths ∙ 1,207 Sqft ∙ Built 1967
![property image]()
LEASED 05/28/20- Rent
- Rent Per SQFT
- $1,200
- $0.99
-
169 Branchwood Road Statesville, NC 3
- 3 beds 2 baths ∙ 1,299 Sqft ∙ Built 1966 3 beds 2 baths ∙ 1,299 Sqft ∙ Built 1966
![property image]()
LEASED 07/06/20- Rent
- Rent Per SQFT
- $1,300
- $1.00
PROPERTY LISTING DETAILS
1.704.691.4308
Our Town Realty
MLS #: 3705740
Last Updated: 02/20/2021
