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PROPERTY INFO
FACTS
- Single Family
- Built In 1989
- Price/Sqft : $162.21
- 2 Days on Market
- MLS # : 3720426
- Updated Date : 03/20/2021 at 18:46
CONSTRUCTION
- Beds : 3
- Floor Size : 1,233 sqft
- Baths : 2 full
Listing Agent
Better Homes And Gardens Real Estate Paracle
Listing Agent's Description
Great home on awesome lot. Open floorpan with spacious rooms! Priced to sell. Won't last long! Book your showing now!
SEE MORE
- 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)
- 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)
PRICE & RENT TRENDS
Neighborhood: Silverwood
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Silverwood
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,220 |
| EXPENSES | Loan Payment | -$695 |
| Property Tax | -$174 | |
| Property Insurance | -$50 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$182
|
||
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.
$200,000
PROJECTED PRICE
$1,220
PROJECTED RENT
0.61%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 2.98% |
| Appreciation Year (1-5) | 8.1% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.57% |
| 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
$58,750
LOAN DETAILS
$695
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $50,000 |
| Loan Amount | $150,000 |
9.67
YEARS SAVED
$27,526
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,220
LIST RENT -
$0.99
LIST RENT PER SQFT
-
$1,147
COMP ESTIMATED VALUE -
$0.93
COMP AVG. RENT PER SQFT
Comps Range
-
11706 Norkett Drive Charlotte, NC 2
- 3 beds 2 baths ∙ 1,233 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,233 Sqft ∙ Built 1989
- Rent
- Rent Per SQFT
- $1,220
- $0.99
-
11223 Gold Pan Road Charlotte, NC 1
- 3 beds 2 baths ∙ 1,180 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,180 Sqft ∙ Built 2000
LEASED 01/30/20- Rent
- Rent Per SQFT
- $1,100
- $0.93
-
7620 Shiny Meadow Lane Charlotte, NC 3
- 3 beds 2 baths ∙ 1,296 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,296 Sqft ∙ Built 2004
LEASED 03/25/20- Rent
- Rent Per SQFT
- $1,249
- $0.96
-
10414 Starwood Drive Charlotte, NC 4
- 4 beds 3 baths ∙ 1,548 Sqft ∙ Built 1983 4 beds 3 baths ∙ 1,548 Sqft ∙ Built 1983
LEASED 05/31/20- Rent
- Rent Per SQFT
- $1,395
- $0.90
PROPERTY LISTING DETAILS
1.704.430.3748
Better Homes And Gardens Real Estate Paracle
MLS #: 3720426
Last Updated: 03/20/2021
