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1111 Dryden Road #Marshal CR 154 Indian Trail, NC 28079

5 Beds 4 Baths 3,479 sqft Built 2020

$453,306

List Price

$1,940

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
January 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $130.30
  • 4 Days on Market
  • MLS # : 3698819
  • Updated Date : 01/16/2021 at 07:41
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,479 sqft
  • Baths : 3 full , 1 half
Listing Agent

Mattamy Carolina Corporation

Listing Agent's Description

Beautiful new construction home with a 2 car garage. This home has 5 bedrooms and 3 1/2 baths with one bedroom a guest suite on the first floor. The Marshall, greets you with a foyer that opens to a formal dining room with walk through butlers pantry to the kitchen. Walk through the foyer and you’ll find the large open gathering and breakfast. The gourmet kitchen features granite countertops. The second floor features an owner’s suite, laundry room, a loft, three additional bedrooms and full bathroom. Will be completed March 2021. Seller to pay up to 3% towards closing cost with the use of MHF.

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

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
Poplin Elementary School Primary Regular 719 40 7
Porter Ridge Middle School Middle Regular 1,385 72 7
Porter Ridge High School High Regular 1,591 77 7

Poplin Elementary School

  • Education Level: Primary
  • # of students: 719
  • # of teachers: 40
7
GreatSchools Rating

Porter Ridge Middle School

  • Education Level: Middle
  • # of students: 1,385
  • # of teachers: 72
7
GreatSchools Rating

Porter Ridge High School

  • Education Level: High
  • # of students: 1,591
  • # of teachers: 77
7
GreatSchools Rating
 

$407,975$498,637$453,306

PURCHASE PRICE

$1,746$2,134$1,940

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,940
EXPENSES Loan Payment -$1,575
Property Tax -$296
Property Insurance -$93
HOA -$65
Property Management Fees -$119
CASH FLOW
-$207

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.

$453,306

PROJECTED PRICE

$1,940

PROJECTED RENT

0.43%

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$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

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$122,126

INVESTMENT

$122,126

Down Payment
$113,327
Rehab Estimate
$2,000
Closing Costs
$6,800

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,575

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $113,327
Loan Amount $339,980
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$12,545

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,940

    LIST RENT
  • $0.56

    LIST RENT PER SQFT
  • $1,905

    COMP ESTIMATED VALUE
  • $0.55

    COMP AVG. RENT PER SQFT
Comps Range
$1,698
1$1,6982$1,8453$1,8954$1,9405$2,000
$2,000
RENT COMPS ANALYSIS
  • 1111 Dryden Road Indian Trail, NC 4
    • 5 beds 4 baths ∙ 3,479 Sqft ∙ Built 2020 5 beds 4 baths ∙ 3,479 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,940
    • $0.56
    •  
  • 2009 City Lights Drive Indian Trail, NC 1
    • 4 beds 3 baths ∙ 3,150 Sqft ∙ Built 2007 4 beds 3 baths ∙ 3,150 Sqft ∙ Built 2007
    LEASED 09/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,698
    • $0.54
    •  
  • 6005 Blue Stream Lane Indian Trail, NC 2
    • 4 beds 3 baths ∙ 3,226 Sqft ∙ Built 2009 4 beds 3 baths ∙ 3,226 Sqft ∙ Built 2009
    LEASED 01/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,845
    • $0.57
    •  
  • 1537 Saratoga Boulevard Indian Trail, NC 3
    • 5 beds 4 baths ∙ 3,545 Sqft ∙ Built 2007 5 beds 4 baths ∙ 3,545 Sqft ∙ Built 2007
    LEASED 03/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.53
    •  
  • 3006 Gray Farm Road Indian Trail, NC 5
    • 6 beds 3 baths ∙ 3,654 Sqft ∙ Built 2007 6 beds 3 baths ∙ 3,654 Sqft ∙ Built 2007
    LEASED 07/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.55
    •  
PROPERTY LISTING DETAILS
Rick Epley
1.704.576.5268
Mattamy Carolina Corporation
BESbswy