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1077 River Haven Avenue Sw #104 Concord, NC 28025

3 Beds 3 Baths 2,213 sqft Built 2021

$325,400

List Price

$1,560

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
February 02, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $147.04
  • 6 Days on Market
  • MLS # : 3704375
  • Updated Date : 02/02/2021 at 10:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,213 sqft
  • Baths : 2 full , 1 half
Listing Agent

Tls Realty Llc

Listing Agent's Description

New 3BR/2.5BTH! The Hudson, nestled in the new Haven at Rocky River community features spacious living areas, sizeable bedrooms, and stylish upgrades throughout! Main floor boasts bright great room, spacious kitchen, and formal dining! Private study offers quiet work space! Kitchen features Quartz countertops, stainless appliances, and beautiful painted cabinetry! Retreat to the Owner's Suite with cozy sitting area, huge walk in closet, and luxury en suite!

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

Zip Code: 28025

ZipNIR Market*CityMarket2010Year2000201980k90k100k110k120k130k140k150k160k170k180k190k200k210kPrice in $74k216k

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

Zip Code: 28025

ZipNIR Market*CityMarket2010Year20002019 Q270075080085090095010001050110011501200125013001350Rent in $6771375

* 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
A T Allen Elementary School Primary Regular 925 59 5
C C Griffin Middle School Middle Regular 1,092 70 4
Central Cabarrus High School High Regular 1,416 88 4

A T Allen Elementary School

  • Education Level: Primary
  • # of students: 925
  • # of teachers: 59
5
GreatSchools Rating

C C Griffin Middle School

  • Education Level: Middle
  • # of students: 1,092
  • # of teachers: 70
4
GreatSchools Rating

Central Cabarrus High School

  • Education Level: High
  • # of students: 1,416
  • # of teachers: 88
4
GreatSchools Rating
 

$292,860$357,940$325,400

PURCHASE PRICE

$1,404$1,716$1,560

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,560
EXPENSES Loan Payment -$1,130
Property Tax -$246
Property Insurance -$69
HOA -$33
Property Management Fees -$119
CASH FLOW
-$37

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$325,400

PROJECTED PRICE

$1,560

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 5.9%
Maintenance Year (1-5) 3.00%
Vacancy 6.02%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

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$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$88,231

INVESTMENT

$88,231

Down Payment
$81,350
Rehab Estimate
$2,000
Closing Costs
$4,881

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,130

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $81,350
Loan Amount $244,050
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$14,809

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,560

    LIST RENT
  • $0.7

    LIST RENT PER SQFT
  • $1,593

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,4253$1,5604$1,5955$1,600
$1,600
RENT COMPS ANALYSIS
  • 1077 River Haven Avenue Sw Concord, NC 3
    • 3 beds 3 baths ∙ 2,213 Sqft ∙ Built 2021 3 beds 3 baths ∙ 2,213 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $1,560
    • $0.70
    •  
  • 1354 Piney Church Road Concord, NC 1
    • 4 beds 3 baths ∙ 2,062 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,062 Sqft ∙ Built 2003
    LEASED 03/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.68
    •  
  • 1351 Piney Church Road Concord, NC 2
    • 3 beds 2 baths ∙ 1,994 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,994 Sqft ∙ Built 2005
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $0.71
    •  
  • 5928 Firethorne Lane Concord, NC 4
    • 4 beds 3 baths ∙ 2,284 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,284 Sqft ∙ Built 2003
    LEASED 11/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.70
    •  
  • 1537 Piney Church Road Concord, NC 5
    • 4 beds 3 baths ∙ 2,177 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,177 Sqft ∙ Built 2005
    LEASED 06/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.73
    •  
PROPERTY LISTING DETAILS
John Seabeck
1.980.313.3321
Tls Realty Llc
BESbswy