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1121 Rembrandt Drive Concord, NC 28027

3 Beds 2 Baths 1,441 sqft Built 1973

$235,000

List Price

$1,210

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

January 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1973
  • Price/Sqft : $163.08
  • 5 Days on Market
  • MLS # : 3698159
  • Updated Date : 01/14/2021 at 21:50
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,441 sqft
  • Baths : 1 full , 1 half
Listing Agent

Opendoor Brokerage Llc

Listing Agent's Description

This Concord one-story home offers a patio. This home is vacant and cleaned regularly.

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

Neighborhood: Picture Park

NeighborhoodNIR Market*CityMarket2010Year2000201980k90k100k110k120k130k140k150k160k170k180k190k200k210kPrice in $73k216k

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

Neighborhood: Picture Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q270075080085090095010001050110011501200125013001350Rent in $6771375

* 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
Wolf Meadow Elementary School Primary Regular 594 42 3
Central Cabarrus High School High Regular 1,416 88 4

Wolf Meadow Elementary School

  • Education Level: Primary
  • # of students: 594
  • # of teachers: 42
3
GreatSchools Rating

Central Cabarrus High School

  • Education Level: High
  • # of students: 1,416
  • # of teachers: 88
4
GreatSchools Rating
 

$211,500$258,500$235,000

PURCHASE PRICE

$1,089$1,331$1,210

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,210
EXPENSES Loan Payment -$816
Property Tax -$248
Property Insurance -$54
Property Management Fees -$119
CASH FLOW
-$28

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.

$235,000

PROJECTED PRICE

$1,210

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 5.3%
Maintenance Year (1-5) 8.00%
Vacancy 6.02%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$68,025

INVESTMENT

$68,025

Down Payment
$58,750
Rehab Estimate
$5,750
Closing Costs
$3,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$816

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $58,750
Loan Amount $176,250
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$10,301

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,210

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,228

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,210
1$1,2102$1,2453$1,2954$1,2995$1,325
$1,325
RENT COMPS ANALYSIS
  • 1121 Rembrandt Drive Concord, NC 1
    • 3 beds 2 baths ∙ 1,441 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,441 Sqft ∙ Built 1973
    • Rent
    • Rent Per SQFT
    •  
    • $1,210
    • $0.84
    •  
  • 541 Pullman Street Concord, NC 2
    • 3 beds 3 baths ∙ 1,500 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,500 Sqft ∙ Built 2002
    LEASED 01/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,245
    • $0.83
    •  
  • 526 Railway Place Sw Concord, NC 3
    • 3 beds 3 baths ∙ 1,498 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,498 Sqft ∙ Built 2001
    LEASED 02/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.86
    •  
  • 3969 Hollows Glen Court Sw Concord, NC 4
    • 4 beds 2 baths ∙ 1,511 Sqft ∙ Built 1998 4 beds 2 baths ∙ 1,511 Sqft ∙ Built 1998
    LEASED 10/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,299
    • $0.86
    •  
  • 518 Railway Place Concord, NC 5
    • 3 beds 2 baths ∙ 1,548 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,548 Sqft ∙ Built 2001
    LEASED 08/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,325
    • $0.86
    •  
PROPERTY LISTING DETAILS
Verria Hairston
1.704.751.0133
Opendoor Brokerage Llc
BESbswy