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1104 Augustus Beamon Drive #10 Indian Trail, NC 28079

4 Beds 3 Baths 2,423 sqft Built 2020

$349,990

List Price

$1,790

$1.6K - $2K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $144.44
  • 2 Days on Market
  • MLS # : 3685653
  • Updated Date : 11/21/2020 at 13:49
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,423 sqft
  • Baths : 2 full , 1 half
Listing Agent

Nvr Homes, Inc./ryan Homes

Listing Agent's Description

Moore Farm is an active community for all! Community includes lawn maintenance and will have a beautiful pool & club house & miles of walking trails. Enter the Columbia floorplan to find a flex room and an open concept family room and kitchen. Upstairs, choose to include a 4th bedroom or a loft for added space. The spacious Owner's bedroom includes an ensuite bath and walk-in closet. Steps away from the bedrooms is a 2nd-floor laundry center for convenience. Some great interior features include James Hardie Plank siding, quartz counter tops, stainless appliances, ceramic tile flooring in all bathrooms, LVP flooring in the foyer, kitchen, dining area & great room plus much more. Moore Farm is ideally located between Weddington and Indian Trail. Running errands is easy with Wesley Chapel Village Commons less than 3 miles away.HOME IS TO BE BUILT.DELIVERY DATE IS SUBJECT TO CHANGE.

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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

Zip Code: 28079

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $118k318k

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

Zip Code: 28079

ZipNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8441809

* 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
Indian Trail Elementary School Primary Regular 682 41 9
Sun Valley Middle School Middle Regular 1,365 69 6
Sun Valley High School High Regular 1,306 76 7

Indian Trail Elementary School

  • Education Level: Primary
  • # of students: 682
  • # of teachers: 41
9
GreatSchools Rating

Sun Valley Middle School

  • Education Level: Middle
  • # of students: 1,365
  • # of teachers: 69
6
GreatSchools Rating

Sun Valley High School

  • Education Level: High
  • # of students: 1,306
  • # of teachers: 76
7
GreatSchools Rating
 

$314,991$384,989$349,990

PURCHASE PRICE

$1,611$1,969$1,790

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,790
EXPENSES Loan Payment -$1,291
Property Tax -$228
Property Insurance -$73
HOA -$171
Property Management Fees -$161
CASH FLOW
-$135

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.

$349,990

PROJECTED PRICE

$1,790

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 6.3%
Maintenance Year (1-5) 3.00%
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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$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$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$94,747

INVESTMENT

$94,747

Down Payment
$87,498
Rehab Estimate
$2,000
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,291

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,498
Loan Amount $262,493
See What Happens When You Reinvest Cash Flow

2.58

YEARS SAVED

$8,988

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,790

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $1,793

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$1,575
1$1,5752$1,6503$1,7904$1,8955$1,950
$1,950
RENT COMPS ANALYSIS
  • 1104 Augustus Beamon Drive Indian Trail, NC 3
    • 4 beds 3 baths ∙ 2,423 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,423 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,790
    • $0.74
    •  
  • 1008 Farmingham Lane Indian Trail, NC 1
    • 4 beds 3 baths ∙ 2,094 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,094 Sqft ∙ Built 2001
    property image
    LEASED 07/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.75
    •  
  • 14002 Fenwick Drive Indian Trail, NC 2
    • 3 beds 3 baths ∙ 2,360 Sqft ∙ Built 2001 3 beds 3 baths ∙ 2,360 Sqft ∙ Built 2001
    property image
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.70
    •  
  • 1005 Demetrius Court Indian Trail, NC 4
    • 4 beds 4 baths ∙ 2,468 Sqft ∙ Built 2001 4 beds 4 baths ∙ 2,468 Sqft ∙ Built 2001
    property image
    LEASED 07/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.77
    •  
  • 1001 Marcell Lane Indian Trail, NC 5
    • 5 beds 3 baths ∙ 2,660 Sqft ∙ Built 2008 5 beds 3 baths ∙ 2,660 Sqft ∙ Built 2008
    property image
    LEASED 01/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.73
    •  
PROPERTY LISTING DETAILS
Jerry Smith
1.704.610.5282
Nvr Homes, Inc./ryan Homes
BESbswy