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1208 Augustus Beamon Drive #103 Indian Trail, NC 28079

4 Beds 3 Baths 1,823 sqft Built 2020

$329,990

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $181.01
  • 33 Days on Market
  • MLS # : 3683739
  • Updated Date : 12/18/2020 at 16:39
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,823 sqft
  • Baths : 2 full , 1 half
Listing Agent

Nvr Homes, Inc./ryan Homes

Listing Agent's Description

Cozy but still spacious 2 story home located in Union county in a great central location to Indian Trail, Waxhaw, Matthews & South Charlotte. This generous single family home features a stylish interior and the community features wooded homesites with included lawn maintenance. The Allegheny gives you the space you have been looking for. Open kitchen to the dinning area and great room. The owner’s suite gives you the perfect space to relax at the end of the day. With a highly desired second floor laundry there is no more running up and down the stairs. This home features four bedrooms or convert one into a loft. Moore Farm will feature miles of natural walking trails and a Farm House style clubhouse and pool. HOME IS TO BE BUILT. DELIVERY DATE IS SUBJECT TO CHANGE.

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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: 28079

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $118k318k

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

Zip Code: 28079

ZipNIR 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
Indian Trail Elementary School Primary Regular 682 41 9
Sun Valley Middle School Middle Regular 1,365 69 6
Sun Valley High School High Regular 1,306 76 7

Indian Trail Elementary School

  • Education Level: Primary
  • # of students: 682
  • # of teachers: 41
9
GreatSchools Rating

Sun Valley Middle School

  • Education Level: Middle
  • # of students: 1,365
  • # of teachers: 69
6
GreatSchools Rating

Sun Valley High School

  • Education Level: High
  • # of students: 1,306
  • # of teachers: 76
7
GreatSchools Rating
 

$296,991$362,989$329,990

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$1,218
Property Tax -$215
Property Insurance -$62
HOA -$171
Property Management Fees -$119
CASH FLOW
-$134

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.

$329,990

PROJECTED PRICE

$1,650

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 6.3%
Maintenance Year (1-5) 3.00%
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-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$89,447

INVESTMENT

$89,447

Down Payment
$82,498
Rehab Estimate
$2,000
Closing Costs
$4,950

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,218

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $82,498
Loan Amount $247,493
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$12,199

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,650

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,609

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,5003$1,5954$1,6505$1,650
$1,650
RENT COMPS ANALYSIS
  • 1208 Augustus Beamon Drive Indian Trail, NC 5
    • 4 beds 3 baths ∙ 1,823 Sqft ∙ Built 2020 4 beds 3 baths ∙ 1,823 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.91
    •  
  • 3007 Secret Garden Court Indian Trail, NC 1
    • 3 beds 1 baths ∙ 1,641 Sqft ∙ Built 2003 3 beds 1 baths ∙ 1,641 Sqft ∙ Built 2003
    property image
    LEASED 11/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.88
    •  
  • 2005 Secret Garden Court Indian Trail, NC 2
    • 3 beds 2 baths ∙ 1,681 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,681 Sqft ∙ Built 2003
    property image
    LEASED 10/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.89
    •  
  • 3012 Secret Garden Court Indian Trail, NC 3
    • 4 beds 3 baths ∙ 1,844 Sqft ∙ Built 2002 4 beds 3 baths ∙ 1,844 Sqft ∙ Built 2002
    property image
    LEASED 08/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.86
    •  
  • 3004 Secret Garden Court Indian Trail, NC 4
    • 4 beds 2 baths ∙ 1,835 Sqft ∙ Built 2002 4 beds 2 baths ∙ 1,835 Sqft ∙ Built 2002
    property image
    LEASED 09/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.90
    •  
PROPERTY LISTING DETAILS
Jerry Smith
1.704.610.5282
Nvr Homes, Inc./ryan Homes
BESbswy