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1148 Black Diamond Drive Dallas, NC 28034

4 Beds 3 Baths 2,253 sqft Built 2008

$219,900

List Price

$1,440

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 03, 2020 RECENTLY ADDED
FACTS
  • Built In 2008
  • Price/Sqft : $97.60
  • 2 Days on Market
  • MLS # : 3678638
  • Updated Date : 11/03/2020 at 00:05
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,253 sqft
  • Baths : 2 full , 1 half
Listing Agent

Moss Realty

Listing Agent's Description

Beautifully maintained home - luxury vinyl flooring on main. Wonderful open floor plan with large kitchen & dining area with eat-at bar. Kitchen has plenty of storage & counter space for all your needs. Master suite has private master bathroom with oversized walk in master closet. Spacious bedrooms with great closet space. Oversized loft. Single car garage with extra space for storage. Stone patio with pergola/canopy. Storage building & fenced yard.

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: Long Creek Meadows

NeighborhoodNIR Market*CityMarket2010Year2000201980k90k100k110k120k130k140k150k160k170k180k190k200k210kPrice in $74k213k

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

Neighborhood: Long Creek Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019 Q27008009001000110012001300Rent in $6411375

* 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
Carr Elementary School Primary Regular 647 40 5
W.c. Friday Middle School Middle Regular 687 38 4
North Gaston High School High Regular 1,095 60 3

Carr Elementary School

  • Education Level: Primary
  • # of students: 647
  • # of teachers: 40
5
GreatSchools Rating

W.c. Friday Middle School

  • Education Level: Middle
  • # of students: 687
  • # of teachers: 38
4
GreatSchools Rating

North Gaston High School

  • Education Level: High
  • # of students: 1,095
  • # of teachers: 60
3
GreatSchools Rating
 

$197,910$241,890$219,900

PURCHASE PRICE

$1,296$1,584$1,440

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,440
EXPENSES Loan Payment -$811
Property Tax -$161
Property Insurance -$70
Property Management Fees -$130
CASH FLOW
$269

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.

$219,900

PROJECTED PRICE

$1,440

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 3.6%
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$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$64,024

INVESTMENT

$64,024

Down Payment
$54,975
Rehab Estimate
$5,750
Closing Costs
$3,299

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$811

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $54,975
Loan Amount $164,925
See What Happens When You Reinvest Cash Flow

10.58

YEARS SAVED

$41,269

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,440

    LIST RENT
  • $0.64

    LIST RENT PER SQFT
  • $1,504

    COMP ESTIMATED VALUE
  • $0.67

    COMP AVG. RENT PER SQFT
Comps Range
$1,345
1$1,3452$1,3953$1,4404$1,4455$1,525
$1,525
RENT COMPS ANALYSIS
  • 1148 Black Diamond Drive Dallas, NC 3
    • 4 beds 3 baths ∙ 2,253 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,253 Sqft ∙ Built 2008
    • Rent
    • Rent Per SQFT
    •  
    • $1,440
    • $0.64
    •  
  • 5056 Broad Leaf Court Dallas, NC 1
    • 3 beds 3 baths ∙ 2,108 Sqft ∙ Built 2015 3 beds 3 baths ∙ 2,108 Sqft ∙ Built 2015
    LEASED 02/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,345
    • $0.64
    •  
  • 1114 Blue Topaz Drive Dallas, NC 2
    • 4 beds 3 baths ∙ 1,988 Sqft ∙ Built 2015 4 beds 3 baths ∙ 1,988 Sqft ∙ Built 2015
    LEASED 02/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.70
    •  
  • 2936 Village Center Drive Dallas, NC 4
    • 4 beds 3 baths ∙ 2,231 Sqft ∙ Built 2010 4 beds 3 baths ∙ 2,231 Sqft ∙ Built 2010
    LEASED 04/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,445
    • $0.65
    •  
  • 1040 Sundance Drive Gastonia, NC 5
    • 4 beds 3 baths ∙ 2,231 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,231 Sqft ∙ Built 2018
    LEASED 03/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.68
    •  
PROPERTY LISTING DETAILS
Katy Moss
1.704.898.6965
Moss Realty
BESbswy