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PROPERTY INFO
FACTS
- Single Family
- Built In 2014
- Price/Sqft : $118.24
- 3 Days on Market
- MLS # : 3694896
- Updated Date : 01/03/2021 at 00:55
CONSTRUCTION
- Beds : 4
- Floor Size : 2,960 sqft
- Baths : 3 full , 1 half
Listing Agent
Keller Williams Lake Norman
Listing Agent's Description
MULTIPLE OFFERS RECEIVED. HIGHEST & BEST DEADLINE 12NOON SUNDAY 1/3/2021. TWO WORDS: DOUBLE MASTERS. What more do I need to say?? Beautiful hrdwd floors draw you in & carry throughout main level (except for master which is carpet). Front oriented OFC space offers endless flexibility. You decide: office, DR, LR, playroom, etc. Entry hall leads to HUGE kitchen, eat-in brkfst area & FAM RM space, truly the definition of OPEN FLOOR PLAN. KIT features dark designer cabinets, granite counters, tile backsplash & tons of storage. MASTER on main boasts a tray ceiling & spacious bathroom suite features double vanities, garden tub, separate shower & large W/I closet. Upstairs, you will find the SECOND MASTER (currently being used as a bonus) ensuite which includes double vanities, large shower & closet. Projector & screen can remain w/acceptable offer. 2 add'l BRs & storage closet round out 2nd floor. You will be impressed w/stone paver patio w/fire pit in rear yard.
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: Waterford
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Waterford
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,060 |
| EXPENSES | Loan Payment | -$1,291 |
| Property Tax | -$348 | |
| Property Insurance | -$83 | |
| HOA | -$55 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$164
|
||
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
$2,060
PROJECTED RENT
0.59%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.48% |
| Appreciation Year (1-5) | 4.7% |
| 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
$98,500
LOAN DETAILS
$1,291
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $87,500 |
| Loan Amount | $262,500 |
7.92
YEARS SAVED
$42,177
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,060
LIST RENT -
$0.7
LIST RENT PER SQFT
-
$1,894
COMP ESTIMATED VALUE -
$0.64
COMP AVG. RENT PER SQFT
Comps Range
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- $1,885
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PROPERTY LISTING DETAILS
1.704.965.6866
Keller Williams Lake Norman
