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PROPERTY INFO
FACTS
- Single Family
- Built In 1996
- Price/Sqft : $128.31
- 5 Days on Market
- MLS # : 3692994
- Updated Date : 12/23/2020 at 13:48
CONSTRUCTION
- Beds : 4
- Floor Size : 2,727 sqft
- Baths : 2 full , 1 half
Listing Agent
Berkshire Hathaway Homeservices Carolinas Realty
Listing Agent's Description
Fantastic opportunity in one of Steele Creek's most desirable communities! Immaculate home with new hardwood floors throughout most of the main and upper floors, new paint in many areas as well as new roof in 2015 and completely replaced HVAC units in 2017 and 2018. The spacious kitchen with extra cabinet and counter space and bar area overlooks Breakfast Area and Family Room. The Master Suite is oversized with an additional area perfect for workout or small office use. The Master Bath features dual vanities and separate tub/shower. The secondary bedrooms are spacious with generous closet space. All of this just minutes from retail and restaurants (including Rivergate and Ayrsley) as well as 485. There is also a wonderful neighborhood pool and playground area perfect for entertaining the kids for hours!
SEE MORE
- 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: Brown Road
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Brown Road
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,870 |
| EXPENSES | Loan Payment | -$1,291 |
| Property Tax | -$305 | |
| Property Insurance | -$78 | |
| HOA | -$35 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$42
|
||
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.
$349,900
PROJECTED PRICE
$1,870
PROJECTED RENT
0.53%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 2.98% |
| Appreciation Year (1-5) | 6.9% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.57% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$98,474
LOAN DETAILS
$1,291
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $87,475 |
| Loan Amount | $262,425 |
5.58
YEARS SAVED
$25,690
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,870
LIST RENT -
$0.69
LIST RENT PER SQFT
-
$1,875
COMP ESTIMATED VALUE -
$0.69
COMP AVG. RENT PER SQFT
Comps Range
-
11208 Ridge Oak Drive Charlotte, NC 3
- 4 beds 3 baths ∙ 2,727 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,727 Sqft ∙ Built 1996
![property image]()
- Rent
- Rent Per SQFT
- $1,870
- $0.69
-
11200 Laurel View Drive Charlotte, NC 1
- 4 beds 3 baths ∙ 2,607 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,607 Sqft ∙ Built 1993
![property image]()
LEASED 08/10/20- Rent
- Rent Per SQFT
- $1,700
- $0.65
-
11328 Longhedge Lane Charlotte, NC 2
- 4 beds 3 baths ∙ 2,580 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,580 Sqft ∙ Built 1993
![property image]()
LEASED 08/31/20- Rent
- Rent Per SQFT
- $1,835
- $0.71
-
12713 Wither Steele Court Charlotte, NC 4
- 5 beds 3 baths ∙ 2,848 Sqft ∙ Built 2014 5 beds 3 baths ∙ 2,848 Sqft ∙ Built 2014
![property image]()
LEASED 10/09/19- Rent
- Rent Per SQFT
- $1,995
- $0.70
-
15107 Callow Forest Drive Charlotte, NC 5
- 4 beds 3 baths ∙ 2,878 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,878 Sqft ∙ Built 2005
![property image]()
LEASED 05/07/20- Rent
- Rent Per SQFT
- $1,995
- $0.69
PROPERTY LISTING DETAILS
1.704.661.7780
Berkshire Hathaway Homeservices Carolinas Realty
