Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

109 Pacemont Lane Gastonia, NC 28056

3 Beds 2 Baths 2,325 sqft Built 1963

$189,000

List Price

$1,520

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 21, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1963
  • Price/Sqft : $81.29
  • 1 Days on Market
  • MLS # : 3720536
  • Updated Date : 03/21/2021 at 01:07
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,325 sqft
  • Baths : 2 full
Listing Agent

The Dream Home Crew Llc

Listing Agent's Description

If you're looking for a home on a semi-secluded street with No HOA. Yet Conveniently located. This home is for you.  SO MUCH SQUARE FOOTAGE FOR THIS PRICE WOW!!! It features a  Super oversized Master Bedroom with double closets, Large island in the kitchen that can also be used for dining. Un-heated bonus/sun room great for your enjoyment and creativity.  A Basement. Large lot,  Brand New Roof. Fresh Paint. A little TLC needed to make this home a gem. Extra Lot behind the home also available on Lake St. This home is USDA ELIGIBLE. **Seller will Consider a Lease Purchase or Flexible Financing Options ****INVESTORS: ADD THIS TO YOUR RENTAL PORTFOLIO

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

Zip Code: 28056

ZipNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200k210kPrice in $81k213k

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

Zip Code: 28056

ZipNIR Market*CityMarket2010Year20002019 Q270080090010001100120013001400Rent in $6901460

* 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
North Belmont Elementary School Primary Regular 414 25 5
Belmont Middle School Middle Regular 726 39 6
Stuart W. Cramer High School High Unknown NA

North Belmont Elementary School

  • Education Level: Primary
  • # of students: 414
  • # of teachers: 25
5
GreatSchools Rating

Belmont Middle School

  • Education Level: Middle
  • # of students: 726
  • # of teachers: 39
6
GreatSchools Rating

Stuart W. Cramer High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$170,100$207,900$189,000

PURCHASE PRICE

$1,368$1,672$1,520

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,520
EXPENSES Loan Payment -$656
Property Tax -$115
Property Insurance -$71
Property Management Fees -$119
CASH FLOW
$559

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.

$189,000

PROJECTED PRICE

$1,520

PROJECTED RENT

0.80%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 4.6%
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$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$55,835

INVESTMENT

$55,835

Down Payment
$47,250
Rehab Estimate
$5,750
Closing Costs
$2,835

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$656

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $47,250
Loan Amount $141,750
See What Happens When You Reinvest Cash Flow

16.75

YEARS SAVED

$53,392

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,520

    LIST RENT
  • $0.65

    LIST RENT PER SQFT
  • $1,843

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,520
1$1,5202$1,5953$1,7954$1,9505$1,995
$1,995
RENT COMPS ANALYSIS
  • 109 Pacemont Lane Gastonia, NC 1
    • 3 beds 2 baths ∙ 2,325 Sqft ∙ Built 1963 3 beds 2 baths ∙ 2,325 Sqft ∙ Built 1963
    • Rent
    • Rent Per SQFT
    •  
    • $1,520
    • $0.65
    •  
  • 903 River Trail Road Lowell, NC 2
    • 4 beds 3 baths ∙ 2,260 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,260 Sqft ∙ Built 2007
    LEASED 02/15/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.71
    •  
  • 504 River View Drive Lowell, NC 3
    • 4 beds 3 baths ∙ 2,084 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,084 Sqft ∙ Built 2006
    LEASED 02/28/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.86
    •  
  • 1116 Millbridge Road Belmont, NC 4
    • 4 beds 3 baths ∙ 2,474 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,474 Sqft ∙ Built 2020
    LEASED 10/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.79
    •  
  • 101 Margaret Hoffman Drive Mount Holly, NC 5
    • 4 beds 3 baths ∙ 2,403 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,403 Sqft ∙ Built 2016
    LEASED 07/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.83
    •  
PROPERTY LISTING DETAILS
Tijuana Smith
1.980.217.9099
The Dream Home Crew Llc
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3720536
Last Updated: 03/21/2021
BESbswy