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PROPERTY INFO
FACTS
- Single Family
- Built In 2000
- Price/Sqft : $143.62
- 7 Days on Market
- MLS # : 3708589
- Updated Date : 02/20/2021 at 09:12
CONSTRUCTION
- Beds : 5
- Floor Size : 3,063 sqft
- Baths : 3 full , 1 half
Listing Agent
Douglas Carson, Realtors
Listing Agent's Description
Large, very well maintained five bedroom home on a half acre wooded lot in popular Ballantyne area w/Mecklenburg County taxes only. One owner home features brick front, deck, owner's BR first or second floor, prefinished wood floors, formal living & dining rooms, two story great room wired for surround sound, gas log fireplace & numerous architectural details, open kitchen has been upgraded w/stainless steel appliances & glass tile backsplash, new microwave, newer 5/8 HP garbage disposal, computer niche, walk out BK bay. Upstairs offers another owner's bedroom & three spacious BR, great storage in attic walk-in that is off upstairs owner BR; two hvac systems; one replaced in 2015, the other in 2016; new roof 2011, 50 gal high efficiency water heater in 2017, AT&T fiber installed 2018, ethernet cabling to TV in great room, and more. Water provided by Carolina Water. Great location, quick access in & out of neighborhood; close to shopping, interstates, airport, more.. Gas grill stays
SEE MORE
- 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: Ballantyne West
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Ballantyne West
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,410 |
| EXPENSES | Loan Payment | -$1,528 |
| Property Tax | -$337 | |
| Property Insurance | -$85 | |
| HOA | -$28 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$314
|
||
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.
$439,900
PROJECTED PRICE
$2,410
PROJECTED RENT
0.55%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.48% |
| Appreciation Year (1-5) | 4.3% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.31% |
| 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
$122,324
LOAN DETAILS
$1,528
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $109,975 |
| Loan Amount | $329,925 |
9.42
YEARS SAVED
$58,004
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,410
LIST RENT -
$0.79
LIST RENT PER SQFT
-
$2,404
COMP ESTIMATED VALUE -
$0.78
COMP AVG. RENT PER SQFT
Comps Range
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11823 Southcrest Lane Pineville, NC 4
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- Rent
- Rent Per SQFT
- $2,410
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LEASED 12/20/19- Rent
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- $2,145
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14720 Provence Lane Charlotte, NC 2
- 5 beds 3 baths ∙ 2,926 Sqft ∙ Built 2006 5 beds 3 baths ∙ 2,926 Sqft ∙ Built 2006
LEASED 06/25/20- Rent
- Rent Per SQFT
- $2,295
- $0.78
-
15232 Prescott Hill Avenue Charlotte, NC 3
- 4 beds 3 baths ∙ 2,925 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,925 Sqft ∙ Built 2005
LEASED 03/24/20- Rent
- Rent Per SQFT
- $2,395
- $0.82
-
11904 Southcrest Lane Pineville, NC 5
- 6 beds 3 baths ∙ 3,118 Sqft ∙ Built 1999 6 beds 3 baths ∙ 3,118 Sqft ∙ Built 1999
LEASED 06/04/20- Rent
- Rent Per SQFT
- $2,495
- $0.80
PROPERTY LISTING DETAILS
1.704.641.1159
Douglas Carson, Realtors
MLS #: 3708589
Last Updated: 02/20/2021
