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1110 Morning Glory Drive 
Charlotte, NC
28262
3 Beds 2 Baths 1,355 sqft
Built 1997
INVESTimate
$200,000
List Price
$58,750
REQUEST INFO
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PROPERTY INFO
FACTS
- Built In 1997
- Price/Sqft : $147.60
- 2 Days on Market
- MLS # : 3655572
- Updated Date : 08/26/2020 at 00:05
CONSTRUCTION
- Beds : 3
- Floor Size : 1,355 sqft
- Baths : 2 full
Listing Agent
Re/max Executive
Listing Agent's Description
Rare opportunity in Charlotte for an updated 3 bedroom, 2 bath ranch with a one-car garage for $200k!!! Very spacious open floor plan, great natural light, great room with vaulted ceilings, freshly painted, new carpet & vinyl flooring. Eat-in kitchen with great cabinet space, new gas range, refrigerator to convey, and an additional dining area. Large owner's suite with walk-in closet, dual vanities in the bathroom, separate shower, & garden tub. Two additional bedrooms and a guest bathroom. Fenced in backyard with a patio area, storage shed, tons of potential! The roof was replaced in 2020. Please note the dryer hook up is for gas currently. Conveniently located to I-485, I-85, PNC Pavilion, UNCC, the light rail, shopping, and dining!
SEE MORE
- 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: Harris - Houston
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Harris - Houston
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,170 |
| EXPENSES | Loan Payment | -$738 |
| Property Tax | -$174 | |
| Property Insurance | -$53 | |
| HOA | -$15 | |
| Property Management Fees | -$105 | |
|
CASH FLOW
$85
|
||
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.
$200,000
PROJECTED PRICE
$1,170
PROJECTED RENT
0.58%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 2.98% |
| Appreciation Year (1-5) | 9.22% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.57% |
| Length of Stay Years | 2 |
TOTAL CASH OUT OF POCKET
INVESTMENT
$58,750
LOAN DETAILS
$738
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $50,000 |
| Loan Amount | $150,000 |
6.17
YEARS SAVED
$16,911
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,170
LIST RENT -
$0.86
LIST RENT PER SQFT
-
$1,169
COMP ESTIMATED VALUE -
$0.86
COMP AVG. RENT PER SQFT
Comps Range
-
1110 Morning Glory Drive Charlotte, NC 1
- 3 beds 2 baths ∙ 1,355 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,355 Sqft ∙ Built 1997
- Rent
- Rent Per SQFT
- $1,170
- $0.86
-
10700 Hunters Trace Court Charlotte, NC 2
- 3 beds 2 baths ∙ 1,460 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,460 Sqft ∙ Built 1991
LEASED 01/24/20- Rent
- Rent Per SQFT
- $1,249
- $0.86
-
11029 Wiltshire Lane Charlotte, NC 3
- 3 beds 2 baths ∙ 1,436 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,436 Sqft ∙ Built 1985
LEASED 03/31/19- Rent
- Rent Per SQFT
- $1,250
- $0.87
-
3305 Kilbridge Woods Court Charlotte, NC 4
- 3 beds 3 baths ∙ 1,484 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,484 Sqft ∙ Built 2001
LEASED 02/26/19- Rent
- Rent Per SQFT
- $1,295
- $0.87
-
1947 Forest Side Lane Charlotte, NC 5
- 3 beds 2 baths ∙ 1,579 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,579 Sqft ∙ Built 1999
LEASED 07/14/20- Rent
- Rent Per SQFT
- $1,450
- $0.92
PROPERTY LISTING DETAILS
1.704.777.0356
Re/max Executive
