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1144 Vine Cliff Lane Charlotte, NC 28214

4 Beds 3 Baths 1,842 sqft Built 2001

INVESTimate

$227,000

List Price

$1,350

$1,215 - $1,485

Rent Est.

$65,905

Investment Est.

$246,159 ( +8.44%) 1 YR EST. FORECAST

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1 YEAR
Gross Yield	7.14%
NOI	$8,918

15 YEAR
Yield	6.32%
Appreciation	4.44%
TOTAL RETURN	25.89%

PROPERTY INFO

August 24, 2020 RECENTLY ADDED

FACTS

Built In 2001
Price/Sqft : $123.24
7 Days on Market
MLS # : 3649300
Updated Date : 08/25/2020 at 15:32

CONSTRUCTION

Beds : 4
Floor Size : 1,842 sqft
Baths : 2 full , 1 half

Listing Agent

Elite Team Realty

Listing Agent's Description

Large 4 bedroom 2.5 bath home located in Catawba River Plantation. Open floor plan. Family room and kitchen at back of the home with center island. 4 bedrooms upstairs. Formal dining room and eat in kitchen. 2 car garage. Seller is looking to sell "AS IS" Frig has been removed from the home. Seller willing to offer up to a $1000 refrigerator allowance with accepted/ closed offer.

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1144 Vine Cliff Ln

Charlotte, North Carolina

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MARKET HIGHLIGHTS

Charlotte Market Report

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)

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

NAME	EDUCATIONAL LEVEL	SCHOOL TYPE	# OF STUDENTS	# OF TEACHERS	GREATSCHOOLS RATING
River Oaks Academy	Primary	Regular	611	36	5
Coulwood Middle School	Middle	Regular	694	45	7
West Mecklenburg High School	High	Regular	2,040	108	1

River Oaks Academy

Education Level: Primary
# of students: 611
# of teachers: 36

GreatSchools Rating

Coulwood Middle School

Education Level: Middle
# of students: 694
# of teachers: 45

GreatSchools Rating

West Mecklenburg High School

Education Level: High
# of students: 2,040
# of teachers: 108

GreatSchools Rating

FINANCIALS

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$204,300$249,70000$227,000

PURCHASE PRICE

$1,215$1,48500$1,350

RENT

DOWN PAYMENT

FINANCING

OFF ON

Acquisition Concierge

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PROPERTY

Expense Inflation	%
Vacancy	%
Length of Stay
Expense Inflation	%
Vacancy	%
Length of Stay

YEAR (1-5)

Appreciation	%
Rental Growth	%
Maintenance	%

YEAR (1-5)

Appreciation	%
Rental Growth	%
Maintenance	%

YEAR (6+)

Appreciation	%
Rental Growth	%
Maintenance	%

INVESTMENT

Rehab Costs
Reinvest Cash Flow	Yes No
Interest Rate	%

INVESTMENT

Rehab Costs
Reinvest Cash Flow	Yes No
Interest Rate	%

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PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

Cash Flow
Appreciation
Principal

PROJECTED ANNUAL CASH FLOW

Tenant Turnover

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

Appreciation
Principal
Loan Balance

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME	Rent	$1,350
EXPENSES	Loan Payment	-$838
	Property Tax	-$198
	Property Insurance	-$62
	HOA	-$33
	Property Management Fees	-$122



CASH FLOW $98

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.

$227,000

PROJECTED PRICE

$1,350

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS
Expense Inflation	2.50%
Rental Growth Year (1-5)	2.98%
Appreciation Year (1-5)	8.44%
Maintenance Year (1-5)	8.00%
Vacancy	6.57%
Length of Stay Years	2

TOTAL CASH OUT OF POCKET

INVESTMENT

$65,905

Down Payment	$56,750
Rehab Estimate	$5,750
Closing Costs	$3,405

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$838

MONTHLY LOAN PAYMENT

30 yr

4.25%

25.00%

Down Payment

Term	30 Years
Interest	4.25%
Down Payment	$56,750
Loan Amount	$170,250

See What Happens When You Reinvest Cash Flow

6.17

YEARS SAVED

$19,205

INTEREST SAVED

CASH FLOW REINVESTMENT

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

$1,350
LIST RENT
$0.73
LIST RENT PER SQFT

$1,474
COMP ESTIMATED VALUE
$0.8
COMP AVG. RENT PER SQFT

Comps Range

$1,350

1$1,3502$1,4453$1,4504$1,5355$1,555

$1,555

RENT COMPS ANALYSIS

1,842
PROPERTY SQFT
$0.8
AVG RENT PER SQFT
$1,474
ESTIMATED VALUE
$1,350
LIST RENT

1144 Vine Cliff Lane Charlotte, NC 3

4 beds 3 baths ∙ 1,842 Sqft ∙ Built 2001 4 beds 3 baths ∙ 1,842 Sqft ∙ Built 2001
Price

Price Per SQFT

$227,000

$123.24
1605 Oak Knoll Lane Charlotte, NC 1

4 beds 3 baths ∙ 1,739 Sqft ∙ Built 1995 4 beds 3 baths ∙ 1,739 Sqft ∙ Built 1995
SOLD 06/30/20
Price

Price Per SQFT

$204,000

$117.31
11407 Lenswood Court Charlotte, NC 2

3 beds 3 baths ∙ 1,928 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,928 Sqft ∙ Built 2001
SOLD 07/22/20
Price

Price Per SQFT

$227,000

$117.74
723 Woodington Lane Charlotte, NC 4

3 beds 3 baths ∙ 1,985 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,985 Sqft ∙ Built 2002
SOLD 07/10/20
Price

Price Per SQFT

$238,000

$119.90
1106 Vine Cliff Lane Charlotte, NC 5

3 beds 3 baths ∙ 1,892 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,892 Sqft ∙ Built 2004
SOLD 06/11/20
Price

Price Per SQFT

$240,000

$126.85

1144 Vine Cliff Lane Charlotte, NC 1

4 beds 3 baths ∙ 1,842 Sqft ∙ Built 2001 4 beds 3 baths ∙ 1,842 Sqft ∙ Built 2001
Rent

Rent Per SQFT

$1,350

$0.73
1116 Vine Cliff Lane Charlotte, NC 2

3 beds 3 baths ∙ 1,899 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,899 Sqft ∙ Built 2001
LEASED 08/11/20
Rent

Rent Per SQFT

$1,445

$0.76
11646 Northwoods Forest Drive Charlotte, NC 3

3 beds 3 baths ∙ 1,715 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,715 Sqft ∙ Built 2000
LEASED 06/19/20
Rent

Rent Per SQFT

$1,450

$0.85
620 Pawley Drive Charlotte, NC 4

4 beds 3 baths ∙ 1,861 Sqft ∙ Built 2002 4 beds 3 baths ∙ 1,861 Sqft ∙ Built 2002
LEASED 10/01/19
Rent

Rent Per SQFT

$1,535

$0.82
507 Woodington Lane Charlotte, NC 5

4 beds 3 baths ∙ 2,026 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,026 Sqft ∙ Built 2003
LEASED 01/15/20
Rent

Rent Per SQFT

$1,555

$0.77

PROPERTY LISTING DETAILS

Brian Augustine
1.704.521.2735
Elite Team Realty

1144 Vine Cliff Lane Charlotte, NC 28214

INVESTimate

$227,000

$1,350

$65,905

REQUEST INFO

PROPERTY INFO

FACTS

CONSTRUCTION

Listing Agent

Listing Agent's Description

MARKET HIGHLIGHTS

PRICE & RENT TRENDS

SCHOOLS

River Oaks Academy

Coulwood Middle School

West Mecklenburg High School

FINANCIALS

$204,300$249,70000$227,000

$1,215$1,48500$1,350

Acquisition Concierge

PROJECTED ACCUMULATED WEALTH

PROJECTED ANNUAL CASH FLOW

PROJECTED PROPERTY VALUE

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

$227,000

$1,350

0.59%

TOTAL CASH OUT OF POCKET

INVESTMENT

LOAN DETAILS

25%

$838

6.17

$19,205

$227,000

$123.24

$221,869

$120.45

COMPS RANGE

PRICE COMPS ANALYSIS

$1,350

$0.73

$1,474

$0.8

Comps Range

RENT COMPS ANALYSIS

PROPERTY LISTING DETAILS