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1156 Afternoon Sun Road Stallings, NC 28104

4 Beds 3 Baths 2,075 sqft Built 2007

$295,000

List Price

$1,850

$1.7K - $2K

Rent Est.

PROPERTY INFO

February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $142.17
  • 3 Days on Market
  • MLS # : 3708246
  • Updated Date : 02/13/2021 at 18:21
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,075 sqft
  • Baths : 2 full , 1 half
Listing Agent

Wilkinson Era Real Estate

Listing Agent's Description

***Multiple Offers Received - Please submit your clients best by 12:00pm Sunday 2/14***Beautifully updated home in the lovely Fairhaven community. Freshly painted and meticulously well-kept, this one-owner home has been updated throughout. Cute covered front porch. Soaring 2-story great room. Gorgeous pre-finished flooring. Nice size kitchen with ample cabinet and counter space. Luxuriously renovated master-suite adorned with exquisite finishes, including a high-end whirlpool. Master-suite and laundry on main floor. Large bedrooms upstairs with generous sized closets. Additional loft area upstairs gives room to expand. Amazing oversized backyard patio area with covered gazebo, surrounded by lush privacy trees. Super convenient location close to HWY 485, HWY 75, Bypass and all the shopping/amenities you'd need. Great schools. Situated in BOOMING Stallings area, check this opportunity out!

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MARKET HIGHLIGHTS

  • 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: Fairhaven

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $118k318k

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

Neighborhood: Fairhaven

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8441809

* 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
Stallings Elementary School Primary Regular 576 32 9
Porter Ridge Middle School Middle Regular 1,385 72 7
Porter Ridge High School High Regular 1,591 77 7

Stallings Elementary School

  • Education Level: Primary
  • # of students: 576
  • # of teachers: 32
9
GreatSchools Rating

Porter Ridge Middle School

  • Education Level: Middle
  • # of students: 1,385
  • # of teachers: 72
7
GreatSchools Rating

Porter Ridge High School

  • Education Level: High
  • # of students: 1,591
  • # of teachers: 77
7
GreatSchools Rating
 

$265,500$324,500$295,000

PURCHASE PRICE

$1,665$2,035$1,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,850
EXPENSES Loan Payment -$1,025
Property Tax -$197
Property Insurance -$66
HOA -$43
Property Management Fees -$119
CASH FLOW
$400

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.

$295,000

PROJECTED PRICE

$1,850

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 6.5%
Maintenance Year (1-5) 8.00%
Vacancy 6.31%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$83,925

INVESTMENT

$83,925

Down Payment
$73,750
Rehab Estimate
$5,750
Closing Costs
$4,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 25% down payment or higher enables the proceeds from the asset to cover all costs.

$1,025

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $73,750
Loan Amount $221,250
See What Happens When You Reinvest Cash Flow

12.42

YEARS SAVED

$57,724

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,850

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,842

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,8003$1,8004$1,8505$1,850
$1,850
RENT COMPS ANALYSIS
  • 1156 Afternoon Sun Road Stallings, NC 5
    • 4 beds 3 baths ∙ 2,075 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,075 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.89
    •  
  • 5029 Haven Lodge Road Matthews, NC 1
    • 4 beds 2 baths ∙ 1,966 Sqft ∙ Built 2012 4 beds 2 baths ∙ 1,966 Sqft ∙ Built 2012
    LEASED 07/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.91
    •  
  • 1204 Afternoon Sun Road Matthews, NC 2
    • 4 beds 3 baths ∙ 2,125 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,125 Sqft ∙ Built 2006
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.85
    •  
  • 1615 Yellow Daisy Drive Matthews, NC 3
    • 4 beds 2 baths ∙ 1,951 Sqft ∙ Built 2015 4 beds 2 baths ∙ 1,951 Sqft ∙ Built 2015
    LEASED 11/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.92
    •  
  • 1224 Afternoon Sun Road Matthews, NC 4
    • 4 beds 3 baths ∙ 2,116 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,116 Sqft ∙ Built 2006
    LEASED 09/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.87
    •  
PROPERTY LISTING DETAILS
Valeriy Solodyankin
1.704.222.5226
Wilkinson Era Real Estate
BESbswy