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1105 13th Street Nw Conover, NC 28613

3 Beds 1 Baths 958 sqft Built 1976

$139,900

List Price

$1,100

$990 - $1.2K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
SINGLE-FAMILY
July 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1976
  • Price/Sqft : $146.03
  • 2 Days on Market
  • MLS # : CAR3759308
  • Updated Date : 07/12/2021 at 20:43
CONSTRUCTION
  • Beds : 3
  • Floor Size : 958 sqft
  • Baths : 1 full
Listing Agent

Re/max Traditions

Listing Agent's Description

Great Opportunity for First Time Home Buyer! New Flooring and Paint throughout this 3BR/1BA Home in Conover- Close to Hwy 16 and I-40- Minutes to Grocery Stores and Downtown Conover. Brick Home with large backyard.

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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: 28613

ZipNIR Market*CityMarket2010Year2000201960k70k80k90k100k110k120k130k140k150kPrice in $59k157k

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

Zip Code: 28613

No Data Available.

* 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
Shuford Elementary School Primary Regular 540 30 8
Newton-conover Middle School Middle Regular 681 39 5
Newton-conover High School High Regular 811 53 5

Shuford Elementary School

  • Education Level: Primary
  • # of students: 540
  • # of teachers: 30
8
GreatSchools Rating

Newton-conover Middle School

  • Education Level: Middle
  • # of students: 681
  • # of teachers: 39
5
GreatSchools Rating

Newton-conover High School

  • Education Level: High
  • # of students: 811
  • # of teachers: 53
5
GreatSchools Rating
 

$125,910$153,890$139,900

PURCHASE PRICE

$990$1,210$1,100

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,100
EXPENSES Loan Payment -$486
Property Tax -$68
Property Insurance -$44
Property Management Fees -$119
CASH FLOW
$383

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.

$139,900

PROJECTED PRICE

$1,100

PROJECTED RENT

0.79%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 3.4%
Maintenance Year (1-5) 8.00%
Vacancy 6.00%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$50k$100k$150k$200k$250k$300k$350k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$42,824

INVESTMENT

$42,824

Down Payment
$34,975
Rehab Estimate
$5,750
Closing Costs
$2,099

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$486

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $34,975
Loan Amount $104,925
See What Happens When You Reinvest Cash Flow

16.17

YEARS SAVED

$37,858

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,100

    LIST RENT
  • $1.15

    LIST RENT PER SQFT
  • $1,063

    COMP ESTIMATED VALUE
  • $1.11

    COMP AVG. RENT PER SQFT
Comps Range
$1,100
1$1,1002$1,3503$1,3754$1,450
$1,450
RENT COMPS ANALYSIS
  • 1105 13th Street Nw Conover, NC 1
    • 3 beds 1 baths ∙ 958 Sqft ∙ Built 1976 3 beds 1 baths ∙ 958 Sqft ∙ Built 1976
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $1.15
    •  
  • 713 Painted Feather Lane Conover, NC 2
    • 3 beds 2 baths ∙ 1,268 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,268 Sqft ∙ Built 1993
    property image
    LEASED 12/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.06
    •  
  • 3890 Herman Sipe Road Conover, NC 3
    • 3 beds 2 baths ∙ 1,259 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,259 Sqft ∙ Built 1994
    property image
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $1.09
    •  
  • 1006 Atherstone Street Conover, NC 4
    • 3 beds 2 baths ∙ 1,225 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,225 Sqft ∙ Built 1997
    property image
    LEASED 06/11/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.18
    •  
PROPERTY LISTING DETAILS
Andi Jack
1.828.291.9514
Re/max Traditions
BESbswy