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

10903 Falls Branch Lane Charlotte, NC 28214

4 Beds 3 Baths 2,137 sqft Built 1991

INVESTimate

$290,000

List Price

$1,560

$1,404 - $1,716

Rent Est.

$313,490  ( +8.10%)   1 YR EST. FORECAST

PROPERTY INFO

August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 1991
  • Price/Sqft : $135.70
  • 2 Days on Market
  • MLS # : 3655373
  • Updated Date : 08/25/2020 at 11:58
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,137 sqft
  • Baths : 2 full , 1 half
Listing Agent

Mark Spain Real Estate

Listing Agent's Description

This beautiful ranch is waiting just for you. Walk in to gorgeous bamboo floors and vaulted ceilings. The home sites in a cul-de-sec just minutes away from Pine Island Country Club. This home boasts an open floor plan with a log fireplace in the family room. A spacious kitchen with SS appliances, granite countertops which leads out onto the deck. The master comes with tray ceilings, walk in closet, dual sinks, garden tub with a stand alone shower. This 4bed/3bth features a jack and jill unit as well. You have found your new home located in a peaceful neighborhood.

SEE MORE

MARKET HIGHLIGHTS

  • 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: Coulwood West

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230kPrice in $104k235k

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

Neighborhood: Coulwood West

NeighborhoodNIR Market*CityMarket2010Year20002019 Q280085090095010001050110011501200125013001350140014501500Rent in $7871518

* 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
River Oaks Academy Primary Regular 611 36 5
Coulwood Middle School Middle Regular 694 45 7
West Mecklenburg High School High Regular 2,040 108 1

River Oaks Academy

  • Education Level: Primary
  • # of students: 611
  • # of teachers: 36
5
GreatSchools Rating

Coulwood Middle School

  • Education Level: Middle
  • # of students: 694
  • # of teachers: 45
7
GreatSchools Rating

West Mecklenburg High School

  • Education Level: High
  • # of students: 2,040
  • # of teachers: 108
1
GreatSchools Rating
 

$261,000$319,000$290,000

PURCHASE PRICE

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

RENT

DOWN PAYMENT
FINANCING

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,560
EXPENSES Loan Payment -$1,070
Property Tax -$253
Property Insurance -$67
HOA -$6
Property Management Fees -$140
CASH FLOW
$23

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.

$290,000

PROJECTED PRICE

$1,560

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 8.10%
Maintenance Year (1-5) 8.00%
Vacancy 6.57%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,600

INVESTMENT

$82,600

Down Payment
$72,500
Rehab Estimate
$5,750
Closing Costs
$4,350

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,070

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $72,500
Loan Amount $217,500
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$15,961

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
  • $0.73

    LIST RENT PER SQFT
  • $1,549

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$1,399
1$1,3992$1,4503$1,5504$1,5605$1,650
$1,650
RENT COMPS ANALYSIS
  • 10903 Falls Branch Lane Charlotte, NC 4
    • 4 beds 3 baths ∙ 2,137 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,137 Sqft ∙ Built 1991
    • Rent
    • Rent Per SQFT
    •  
    • $1,560
    • $0.73
    •  
  • 10223 Seedling Lane Charlotte, NC 1
    • 4 beds 3 baths ∙ 2,080 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,080 Sqft ∙ Built 2002
    LEASED 12/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,399
    • $0.67
    •  
  • 11431 Northwoods Forest Drive Charlotte, NC 2
    • 3 beds 3 baths ∙ 2,068 Sqft ∙ Built 1999 3 beds 3 baths ∙ 2,068 Sqft ∙ Built 1999
    LEASED 10/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.70
    •  
  • 10708 Ridge Acres Road Charlotte, NC 3
    • 3 beds 3 baths ∙ 2,240 Sqft ∙ Built 1997 3 beds 3 baths ∙ 2,240 Sqft ∙ Built 1997
    LEASED 11/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.69
    •  
  • 10732 Spruce Mountain Road Charlotte, NC 5
    • 3 beds 3 baths ∙ 2,143 Sqft ∙ Built 1990 3 beds 3 baths ∙ 2,143 Sqft ∙ Built 1990
    LEASED 08/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.77
    •  
PROPERTY LISTING DETAILS
Rachel Alles
1.855.299.7653
Mark Spain Real Estate
BESbswy