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117 Jeffrey Court #117 Concord, NC 28025

4 Beds 3 Baths 2,203 sqft Built 2021

$312,990

List Price

$1,610

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $142.07
  • 3 Days on Market
  • MLS # : 3701275
  • Updated Date : 01/22/2021 at 17:14
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,203 sqft
  • Baths : 2 full , 1 half
Listing Agent

Nvr Homes, Inc./ryan Homes

Listing Agent's Description

Acknowledging the pandemic, appointments are required and all parties must wear a mask. Please follow CDC guidelines. No more than three attendees per appointment. Virtual Meetings and Showings are available. Pricing is based on elevation A

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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

Zip Code: 28025

ZipNIR Market*CityMarket2010Year2000201980k90k100k110k120k130k140k150k160k170k180k190k200k210kPrice in $74k216k

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

Zip Code: 28025

ZipNIR Market*CityMarket2010Year20002019 Q270075080085090095010001050110011501200125013001350Rent in $6771375

* 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
A T Allen Elementary School Primary Regular 925 59 5
C C Griffin Middle School Middle Regular 1,092 70 4
Central Cabarrus High School High Regular 1,416 88 4

A T Allen Elementary School

  • Education Level: Primary
  • # of students: 925
  • # of teachers: 59
5
GreatSchools Rating

C C Griffin Middle School

  • Education Level: Middle
  • # of students: 1,092
  • # of teachers: 70
4
GreatSchools Rating

Central Cabarrus High School

  • Education Level: High
  • # of students: 1,416
  • # of teachers: 88
4
GreatSchools Rating
 

$281,691$344,289$312,990

PURCHASE PRICE

$1,449$1,771$1,610

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,610
EXPENSES Loan Payment -$1,087
Property Tax -$236
Property Insurance -$69
Property Management Fees -$119
CASH FLOW
$99

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$312,990

PROJECTED PRICE

$1,610

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 5.9%
Maintenance Year (1-5) 3.00%
Vacancy 6.02%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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$84,942

INVESTMENT

$84,942

Down Payment
$78,248
Rehab Estimate
$2,000
Closing Costs
$4,695

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,087

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $78,248
Loan Amount $234,743
See What Happens When You Reinvest Cash Flow

7.08

YEARS SAVED

$27,027

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,610

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $1,586

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,5953$1,6004$1,6105$1,650
$1,650
RENT COMPS ANALYSIS
  • 117 Jeffrey Court Concord, NC 4
    • 5 beds 2 baths ∙ 2,203 Sqft ∙ Built 2021 5 beds 2 baths ∙ 2,203 Sqft ∙ Built 2021
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,610
    • $0.73
    •  
  • 1354 Piney Church Road Concord, NC 1
    • 4 beds 3 baths ∙ 2,062 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,062 Sqft ∙ Built 2003
    property image
    LEASED 03/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.68
    •  
  • 5928 Firethorne Lane Concord, NC 2
    • 4 beds 3 baths ∙ 2,284 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,284 Sqft ∙ Built 2003
    property image
    LEASED 11/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.70
    •  
  • 1537 Piney Church Road Concord, NC 3
    • 4 beds 3 baths ∙ 2,177 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,177 Sqft ∙ Built 2005
    property image
    LEASED 06/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.73
    •  
  • 1445 Piney Church Road Concord, NC 5
    • 5 beds 3 baths ∙ 2,328 Sqft ∙ Built 2004 5 beds 3 baths ∙ 2,328 Sqft ∙ Built 2004
    property image
    LEASED 05/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.71
    •  
PROPERTY LISTING DETAILS
Jerry Smith
1.704.610.5282
Nvr Homes, Inc./ryan Homes
BESbswy