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PROPERTY INFO
FACTS
- Built In 2015
- Price/Sqft : $113.84
- 3 Days on Market
- MLS # : 3677469
- Updated Date : 11/02/2020 at 20:45
CONSTRUCTION
- Beds : 3
- Floor Size : 2,240 sqft
- Baths : 2 full , 1 half
Listing Agent
Southern Homes Of The Carolinas
Listing Agent's Description
Sit on the front porch and enjoy the Villages at Back Creek community. Enough space to socially distance while entertaining in the open floor plan where the living room and dining room flow into the kitchen. Stainless appliances, granite counters, island, soft close doors and drawers in kitchen. Wood floors on the first floor. Use the separate den with ceiling fan as the perfect place for entertaining, home office, and/or home based classroom. Mud room with built in storage, bench, and coat hooks. There are 3 spacious bedrooms upstairs. Bedroom 2 has a walk-in closet. The owner's suite has a walk in closet, tray ceiling, and space for a cozy sitting area. Owners bath has dual sinks and granite counters. Loft and separate laundry on the 2nd floor. Enjoy the fenced back yard. Easy access to major highways, shopping, restaurants and grocery stores.
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
Neighborhood: Newell
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Newell
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,410 |
| EXPENSES | Loan Payment | -$941 |
| Property Tax | -$222 | |
| Property Insurance | -$66 | |
| HOA | -$34 | |
| Property Management Fees | -$127 | |
|
CASH FLOW
$20
|
||
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.
$255,000
PROJECTED PRICE
$1,410
PROJECTED RENT
0.55%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 2.98% |
| Appreciation Year (1-5) | 7.5% |
| 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
$73,325
LOAN DETAILS
$941
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $63,750 |
| Loan Amount | $191,250 |
4.42
YEARS SAVED
$13,315
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,410
LIST RENT -
$0.68
LIST RENT PER SQFT
-
$1,495
COMP ESTIMATED VALUE -
$0.72
COMP AVG. RENT PER SQFT
Comps Range
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10731 Derryrush Drive Charlotte, NC 3
- 3 beds 3 baths ∙ 2,069 Sqft ∙ Built 2015 3 beds 3 baths ∙ 2,069 Sqft ∙ Built 2015
- Rent
- Rent Per SQFT
- $1,410
- $0.68
-
9527 Hanberry Boulevard Charlotte, NC 1
- 3 beds 3 baths ∙ 2,100 Sqft ∙ Built 2016 3 beds 3 baths ∙ 2,100 Sqft ∙ Built 2016
LEASED 11/15/19- Rent
- Rent Per SQFT
- $1,350
- $0.64
-
9720 Hanberry Boulevard Charlotte, NC 2
- 3 beds 3 baths ∙ 2,020 Sqft ∙ Built 2010 3 beds 3 baths ∙ 2,020 Sqft ∙ Built 2010
LEASED 04/08/20- Rent
- Rent Per SQFT
- $1,399
- $0.69
-
10103 Faires Farm Road Charlotte, NC 4
- 3 beds 3 baths ∙ 1,958 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,958 Sqft ∙ Built 2002
LEASED 03/09/20- Rent
- Rent Per SQFT
- $1,475
- $0.75
-
9704 Hanberry Boulevard Charlotte, NC 5
- 3 beds 3 baths ∙ 2,036 Sqft ∙ Built 2012 3 beds 3 baths ∙ 2,036 Sqft ∙ Built 2012
LEASED 10/17/20- Rent
- Rent Per SQFT
- $1,650
- $0.81
PROPERTY LISTING DETAILS
1.704.840.5170
Southern Homes Of The Carolinas
