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PROPERTY INFO
FACTS
- Single Family
- Built In 2001
- Price/Sqft : $176.24
- 7 Days on Market
- MLS # : 3708708
- Updated Date : 02/21/2021 at 00:05
CONSTRUCTION
- Beds : 3
- Floor Size : 1,305 sqft
- Baths : 2 full
Listing Agent
Better Homes And Gardens Real Estate Paracle
Listing Agent's Description
COMING SOON! COMPLETELY UPDATED RANCH WITH TWO-CAR GARAGE! Kitchen Totally Updated with 42" Cabinets and Granite Countertops. Stainless Steel Appliances. New Flooring throughout. Freshly Painted. Updated Bathrooms. Great Back Deck with Long-Range View. Deck Being Finished and Painted Sat. 2/20.
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: Harwood Lane
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Harwood Lane
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,200 |
| EXPENSES | Loan Payment | -$799 |
| Property Tax | -$201 | |
| Property Insurance | -$52 | |
| HOA | -$33 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
-$3
|
||
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.
$229,995
PROJECTED PRICE
$1,200
PROJECTED RENT
0.52%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 2.98% |
| Appreciation Year (1-5) | 8.4% |
| 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
$66,699
LOAN DETAILS
$799
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $57,499 |
| Loan Amount | $172,496 |
5
YEARS SAVED
$11,595
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,200
LIST RENT -
$0.92
LIST RENT PER SQFT
-
$1,207
COMP ESTIMATED VALUE -
$0.93
COMP AVG. RENT PER SQFT
Comps Range
-
11308 Pointer Ridge Drive Charlotte, NC 2
- 3 beds 2 baths ∙ 1,305 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,305 Sqft ∙ Built 2001
- Rent
- Rent Per SQFT
- $1,200
- $0.92
-
800 Mt Holly Huntersville Road Charlotte, NC 1
- 3 beds 2 baths ∙ 1,259 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,259 Sqft ∙ Built 1955
LEASED 07/25/20- Rent
- Rent Per SQFT
- $1,195
- $0.95
-
605 Woodington Lane Charlotte, NC 3
- 3 beds 3 baths ∙ 1,416 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,416 Sqft ∙ Built 2003
LEASED 11/10/19- Rent
- Rent Per SQFT
- $1,245
- $0.88
-
10217 Covingtonwood Drive Charlotte, NC 4
- 3 beds 3 baths ∙ 1,576 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,576 Sqft ∙ Built 2002
LEASED 10/17/20- Rent
- Rent Per SQFT
- $1,400
- $0.89
-
9539 Bird Watch Lane Charlotte, NC 5
- 3 beds 3 baths ∙ 1,484 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,484 Sqft ∙ Built 2000
LEASED 11/19/20- Rent
- Rent Per SQFT
- $1,450
- $0.98
PROPERTY LISTING DETAILS
1.704.615.2489
Better Homes And Gardens Real Estate Paracle
MLS #: 3708708
Last Updated: 02/21/2021
