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10710 Camden Meadow Drive Charlotte, NC 28273

5 Beds 3 Baths 3,363 sqft Built 2005

$459,000

List Price

$2,550

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $136.49
  • MLS # : CAR3759824
  • Updated Date : 07/12/2021 at 13:12
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,363 sqft
  • Baths : 3 full
Listing Agent

Premier Sotheby's International Realty

Listing Agent's Description

MAKE THIS GORGEOUS 2 STORY GEM YOUR HOME! Situated on a level lot with a 2 car garage, this home has an open concept floor plan with 5 bedrooms, 3 full baths and a large bonus room. Dual staircases one at entry in the foyer, the other staircase is off of the Great room/Family room. Some features include in-law or guest bedroom and full bath on the main level, wainscoting and upgraded wood look porcelain tile flooring in the living and formal dining room. Great room/ Family room w/ gas fireplace, breakfast area, kitchen with SS appliances, granite countertops and island/prep area. 17x24 patio right outside of the breakfast area. Upstairs you will find a Spacious Master Bedroom with tray ceiling, Master Bath with Garden tub and separate shower, Laundry room, 3 additional bedrooms, full bath ,and an amazing Bonus area that can be used as a home theatre, billiards room, playroom, etc Close to shopping, dining, the airport, I-77 & 485

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: Brown Road

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230kPrice in $100k235k

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

Neighborhood: Brown Road

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8421716

* 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
Lake Wylie Elementary School Primary Regular 632 39 6
Southwest Middle School Middle Regular 1,403 72 6
Math, Engineering, Technology And Science At Olympic High School High Regular 607 28 7

Lake Wylie Elementary School

  • Education Level: Primary
  • # of students: 632
  • # of teachers: 39
6
GreatSchools Rating

Southwest Middle School

  • Education Level: Middle
  • # of students: 1,403
  • # of teachers: 72
6
GreatSchools Rating

Math, Engineering, Technology And Science At Olympic High School

  • Education Level: High
  • # of students: 607
  • # of teachers: 28
7
GreatSchools Rating
 

$413,100$504,900$459,000

PURCHASE PRICE

$2,295$2,805$2,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,550
EXPENSES Loan Payment -$1,594
Property Tax -$400
Property Insurance -$90
HOA -$41
Property Management Fees -$119
CASH FLOW
$305

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.

$459,000

PROJECTED PRICE

$2,550

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 6.9%
Maintenance Year (1-5) 8.00%
Vacancy 6.57%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$127,385

INVESTMENT

$127,385

Down Payment
$114,750
Rehab Estimate
$5,750
Closing Costs
$6,885

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,594

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $114,750
Loan Amount $344,250
See What Happens When You Reinvest Cash Flow

8.42

YEARS SAVED

$51,521

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $2,564

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,2003$2,3144$2,3455$2,800
$2,800
RENT COMPS ANALYSIS
  • 10710 Camden Meadow Drive Charlotte, NC 1
    • 5 beds 3 baths ∙ 3,363 Sqft ∙ Built 2005 5 beds 3 baths ∙ 3,363 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 11114 Huntington Meadow Lane Charlotte, NC 2
    • 5 beds 3 baths ∙ 3,039 Sqft ∙ Built 2005 5 beds 3 baths ∙ 3,039 Sqft ∙ Built 2005
    LEASED 02/18/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.72
    •  
  • 13912 Highland Meadow Road Charlotte, NC 3
    • 5 beds 4 baths ∙ 3,165 Sqft ∙ Built 2007 5 beds 4 baths ∙ 3,165 Sqft ∙ Built 2007
    LEASED 01/06/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,314
    • $0.73
    •  
  • 11402 Scottsman Trace Drive Charlotte, NC 4
    • 5 beds 4 baths ∙ 3,153 Sqft ∙ Built 2010 5 beds 4 baths ∙ 3,153 Sqft ∙ Built 2010
    LEASED 06/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,345
    • $0.74
    •  
  • 12700 Wither Steele Court Charlotte, NC 5
    • 6 beds 4 baths ∙ 3,245 Sqft ∙ Built 2015 6 beds 4 baths ∙ 3,245 Sqft ∙ Built 2015
    LEASED 02/09/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.86
    •  
PROPERTY LISTING DETAILS
Jereta Harris
1.704.620.2602
Premier Sotheby's International Realty
BESbswy