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10930 Sedgemoor Lane Charlotte, NC 28277

5 Beds 3 Baths 2,705 sqft Built 2003

$399,000

List Price

$2,060

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

November 03, 2020 RECENTLY ADDED
FACTS
  • Built In 2003
  • Price/Sqft : $147.50
  • 6 Days on Market
  • MLS # : 3677664
  • Updated Date : 11/03/2020 at 16:48
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,705 sqft
  • Baths : 2 full , 1 half
Listing Agent

Allen Tate Matthews/mint Hill

Listing Agent's Description

MOVE IN READY! This beautiful south Charlotte home has everything you're looking for. Main floor features new wide planked laminate floors, office/sunroom with French doors for added privacy. Large dining room with ceiling and chair molding. Updated kitchen, 42" white cabinets, newer SS appliances, granite counters and a complimentary modern backsplash. The family room is spacious and open to the kitchen which makes this area a wonderful gathering space for the whole family w/gas logs. Upstairs the laminate floors continue into the bedrooms and the hallway. Primary bedroom boasts a trey ceiling w/lots of moldings. Primary bath features dual vanities, sep shower and garden tub. Secondary bedrooms are all well sized and good storage. The backyard offers plenty of space for grilling, enjoying the outdoors and relaxing. Both the HVAC and furnace, were replaced this year!! Awesome location - minutes to Blakeney & Ballantyne. Award winning Schools. MUST SEE!

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

Neighborhood: Southampton

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $116k329k

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

Neighborhood: Southampton

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8441882

* 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
Elon Park Elementary School Primary Regular 1,115 62 9
Community House Middle School Middle Regular 1,750 81 9
Ardrey Kell High School High Regular 2,701 127 9

Elon Park Elementary School

  • Education Level: Primary
  • # of students: 1,115
  • # of teachers: 62
9
GreatSchools Rating

Community House Middle School

  • Education Level: Middle
  • # of students: 1,750
  • # of teachers: 81
9
GreatSchools Rating

Ardrey Kell High School

  • Education Level: High
  • # of students: 2,701
  • # of teachers: 127
9
GreatSchools Rating
 

$359,100$438,900$399,000

PURCHASE PRICE

$1,854$2,266$2,060

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,060
EXPENSES Loan Payment -$1,472
Property Tax -$355
Property Insurance -$78
HOA -$48
Property Management Fees -$185
CASH FLOW
-$78

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$399,000

PROJECTED PRICE

$2,060

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 6.8%
Maintenance Year (1-5) 8.00%
Vacancy 6.31%
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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,485

INVESTMENT

$111,485

Down Payment
$99,750
Rehab Estimate
$5,750
Closing Costs
$5,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,472

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $99,750
Loan Amount $299,250
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$16,352

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,060

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $2,265

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$2,060
1$2,0602$2,0953$2,1504$2,2505$2,265
$2,265
RENT COMPS ANALYSIS
  • 10930 Sedgemoor Lane Charlotte, NC 1
    • 5 beds 3 baths ∙ 2,705 Sqft ∙ Built 2003 5 beds 3 baths ∙ 2,705 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $2,060
    • $0.76
    •  
  • 11005 Sedgemoor Lane Charlotte, NC 2
    • 5 beds 3 baths ∙ 2,672 Sqft ∙ Built 2002 5 beds 3 baths ∙ 2,672 Sqft ∙ Built 2002
    LEASED 12/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.78
    •  
  • 11008 Sedgemoor Lane Charlotte, NC 3
    • 4 beds 3 baths ∙ 2,567 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,567 Sqft ∙ Built 2002
    LEASED 05/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.84
    •  
  • 10803 Chamberlain Hall Court Charlotte, NC 4
    • 4 beds 3 baths ∙ 2,662 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,662 Sqft ∙ Built 2001
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.85
    •  
  • 17307 Commons Crossing Drive Charlotte, NC 5
    • 5 beds 3 baths ∙ 2,698 Sqft ∙ Built 1999 5 beds 3 baths ∙ 2,698 Sqft ∙ Built 1999
    LEASED 08/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,265
    • $0.84
    •  
PROPERTY LISTING DETAILS
Dawn Crocker
1.704.497.7902
Allen Tate Matthews/mint Hill
BESbswy