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118 Jeffrey Court #118 Concord, NC 28025

5 Beds 3 Baths 2,203 sqft Built 2021

$342,486

List Price

$1,630

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
SINGLE-FAMILY
February 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $155.46
  • 6 Days on Market
  • MLS # : 3709173
  • Updated Date : 02/16/2021 at 14:42
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,203 sqft
  • Baths : 2 full , 1 half
Listing Agent

Nvr Homes, Inc./ryan Homes

Listing Agent's Description

This is the ideal open floor plan with the great room flowing into the kitchen, and dining area. The kitchen features all appliances and an oversized island. Upstairs are 5 spacious bedrooms . The Owner's bedroom includes an ensuite bath and two walk-in closets. A hall bath and separate laundry room provide the ultimate in convenience. Washer and dryer included. To- Be- Built.

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

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
 

$308,237$376,735$342,486

PURCHASE PRICE

$1,467$1,793$1,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,630
EXPENSES Loan Payment -$1,190
Property Tax -$258
Property Insurance -$69
HOA -$45
Property Management Fees -$119
CASH FLOW
-$51

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.

$342,486

PROJECTED PRICE

$1,630

PROJECTED RENT

0.48%

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-$2.0k$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$92,759

INVESTMENT

$92,759

Down Payment
$85,622
Rehab Estimate
$2,000
Closing Costs
$5,137

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,190

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $85,622
Loan Amount $256,865
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$14,604

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,630

    LIST RENT
  • $0.74

    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$1,6305$1,650
$1,650
RENT COMPS ANALYSIS
  • 118 Jeffrey Court Concord, NC 4
    • 5 beds 3 baths ∙ 2,203 Sqft ∙ Built 2021 5 beds 3 baths ∙ 2,203 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $1,630
    • $0.74
    •  
  • 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
    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
    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
    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
    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
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3709173
Last Updated: 02/16/2021
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