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12008 Creek Turn Drive Charlotte, NC 28278

3 Beds 2 Baths 1,712 sqft Built 2002

$285,000

List Price

$1,540

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 21, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $166.47
  • 4 Days on Market
  • MLS # : 3700752
  • Updated Date : 01/22/2021 at 18:20
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,712 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Fort Mill

Listing Agent's Description

Bright and airy 3 bed/2 bath ranch style home. Open floorpan with the master suite on one side and guest rooms on the other side. The master suite has a walk-in closet, garden tub, and custom made vanity. Meticulously maintained home and yard. Beautiful patio outside to entertain on or just enjoy! Enjoy the outdoor pool, playground, and walking trails in this desirable neighborhood! Close to shopping, restaurants, and schools!

SEE MORE

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: Steele Creek

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $116k318k

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

Neighborhood: Steele Creek

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
Winget Park Elementary School Primary Regular 451 28 4
Southwest Middle School Middle Regular 1,403 72 6
Math, Engineering, Technology And Science At Olympic High School High Regular 607 28 7

Winget Park Elementary School

  • Education Level: Primary
  • # of students: 451
  • # of teachers: 28
4
GreatSchools Rating

Southwest Middle School

  • Education Level: Middle
  • # of students: 1,403
  • # of teachers: 72
6
GreatSchools Rating

Math, Engineering, Technology And Science At Olympic High School

  • Education Level: High
  • # of students: 607
  • # of teachers: 28
7
GreatSchools Rating
 

$256,500$313,500$285,000

PURCHASE PRICE

$1,386$1,694$1,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,540
EXPENSES Loan Payment -$990
Property Tax -$248
Property Insurance -$59
HOA -$36
Property Management Fees -$119
CASH FLOW
$87

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.

$285,000

PROJECTED PRICE

$1,540

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 6.0%
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

PROJECTED ANNUAL CASH FLOW

11530$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$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$81,275

INVESTMENT

$81,275

Down Payment
$71,250
Rehab Estimate
$5,750
Closing Costs
$4,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$990

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $71,250
Loan Amount $213,750
See What Happens When You Reinvest Cash Flow

7.25

YEARS SAVED

$25,088

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,540

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,541

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,399
1$1,3992$1,5403$1,5954$1,5955$1,650
$1,650
RENT COMPS ANALYSIS
  • 12008 Creek Turn Drive Charlotte, NC 2
    • 3 beds 2 baths ∙ 1,712 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,712 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,540
    • $0.90
    •  
  • 12855 Planters Row Drive Charlotte, NC 1
    • 3 beds 3 baths ∙ 1,645 Sqft ∙ Built 3 beds 3 baths ∙ 1,645 Sqft ∙ Built
    LEASED 02/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,399
    • $0.85
    •  
  • 10339 Orchard Grass Court Charlotte, NC 3
    • 3 beds 2 baths ∙ 1,650 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,650 Sqft ∙ Built 2002
    LEASED 03/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.97
    •  
  • 12120 Creek Turn Drive Charlotte, NC 4
    • 3 beds 2 baths ∙ 1,784 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,784 Sqft ∙ Built 2004
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.89
    •  
  • 11911 Planters Estates Drive Charlotte, NC 5
    • 3 beds 2 baths ∙ 1,861 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,861 Sqft ∙ Built 2004
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.89
    •  
PROPERTY LISTING DETAILS
Katherine Seger
1.803.417.8027
Keller Williams Fort Mill
BESbswy