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PROPERTY INFO
FACTS
- Single Family
- Built In 1998
- Price/Sqft : $153.12
- 3 Days on Market
- MLS # : 3700088
- Updated Date : 03/13/2021 at 17:04
CONSTRUCTION
- Beds : 4
- Floor Size : 2,632 sqft
- Baths : 2 full , 1 half
Listing Agent
Coldwell Banker Realty
Listing Agent's Description
This Beautiful spacious home is located in the Heart of Ballantyne at the end of a private cul-de-sac. Within walking distance to shopping, restaurants and entertainment. This Shea built home has a welcoming covered front porch, two story foyer with beautiful hardwoods. Formal living and dining room. Large Den with fireplace open to kitchen. Kitchen has a large walk-in pantry, island and counters with neutral granite and modern tile back splash. Four bedrooms and a large bonus room that can be utilized as a fifth bedroom. Brand new carpet throughout. This desirable neighborhood has a walking trail, playground and community picnic area. Welcome Home.
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: Ballantyne West
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Ballantyne West
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,010 |
| EXPENSES | Loan Payment | -$1,400 |
| Property Tax | -$384 | |
| Property Insurance | -$77 | |
| HOA | -$48 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
-$17
|
||
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.
$403,000
PROJECTED PRICE
$2,010
PROJECTED RENT
0.50%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.48% |
| Appreciation Year (1-5) | 4.3% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.31% |
| 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
$112,545
LOAN DETAILS
$1,400
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $100,750 |
| Loan Amount | $302,250 |
5.25
YEARS SAVED
$22,130
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,010
LIST RENT -
$0.76
LIST RENT PER SQFT
-
$2,000
COMP ESTIMATED VALUE -
$0.76
COMP AVG. RENT PER SQFT
Comps Range
-
11415 Mcginns Trace Court Charlotte, NC 5
- 4 beds 3 baths ∙ 2,632 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,632 Sqft ∙ Built 1998
![property image]()
- Rent
- Rent Per SQFT
- $2,010
- $0.76
-
11922 Dupplin Castle Court Charlotte, NC 1
- 3 beds 4 baths ∙ 2,585 Sqft ∙ Built 2005 3 beds 4 baths ∙ 2,585 Sqft ∙ Built 2005
![property image]()
LEASED 06/04/20- Rent
- Rent Per SQFT
- $1,888
- $0.73
-
11427 Mcginns Trace Court Charlotte, NC 2
- 3 beds 3 baths ∙ 2,482 Sqft ∙ Built 1998 3 beds 3 baths ∙ 2,482 Sqft ∙ Built 1998
![property image]()
LEASED 08/10/20- Rent
- Rent Per SQFT
- $1,895
- $0.76
-
11701 Kingsley View Drive Charlotte, NC 3
- 4 beds 4 baths ∙ 2,550 Sqft ∙ Built 2002 4 beds 4 baths ∙ 2,550 Sqft ∙ Built 2002
![property image]()
LEASED 04/23/20- Rent
- Rent Per SQFT
- $1,950
- $0.76
-
16020 Sunninghill Park Road Charlotte, NC 4
- 4 beds 4 baths ∙ 2,480 Sqft ∙ Built 2004 4 beds 4 baths ∙ 2,480 Sqft ∙ Built 2004
![property image]()
LEASED 09/11/20- Rent
- Rent Per SQFT
- $1,950
- $0.79
PROPERTY LISTING DETAILS
1.704.998.7383
Coldwell Banker Realty
MLS #: 3700088
Last Updated: 03/13/2021
