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1216 Crossbow Circle Nw Concord, NC 28027

3 Beds 2 Baths 1,954 sqft Built 1964

$265,000

List Price

$1,490

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1964
  • Price/Sqft : $135.62
  • 2 Days on Market
  • MLS # : CAR3761464
  • Updated Date : 07/12/2021 at 21:11
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,954 sqft
  • Baths : 1 full , 1 half
Listing Agent

Allen Tate Concord

Listing Agent's Description

Conveniently located to schools, shopping & medical care, this brick 3BR/1.5B home on a large lot has a lot to offer a new owner. Well maintained w/ eat in bar in kitchen as well as lots of cabinets, storage in lower level, laminate wood floors in lower level w/ open combination living area and office - call today to set up an appointment to view this home!

SEE MORE

MARKET HIGHLIGHTS

  • 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

Zip Code: 28027

ZipNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $113k248k

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

Zip Code: 28027

ZipNIR Market*CityMarket2010Year20002019 Q285090095010001050110011501200125013001350140014501500Rent in $8401526

* 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
Weddington Hills Elementary School Primary Regular 917 57 5
Harold Winkler Middle School Middle Regular 978 60 6
Concord High School High Regular 1,252 79 3

Weddington Hills Elementary School

  • Education Level: Primary
  • # of students: 917
  • # of teachers: 57
5
GreatSchools Rating

Harold Winkler Middle School

  • Education Level: Middle
  • # of students: 978
  • # of teachers: 60
6
GreatSchools Rating

Concord High School

  • Education Level: High
  • # of students: 1,252
  • # of teachers: 79
3
GreatSchools Rating
 

$238,500$291,500$265,000

PURCHASE PRICE

$1,341$1,639$1,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,490
EXPENSES Loan Payment -$920
Property Tax -$280
Property Insurance -$64
Property Management Fees -$119
CASH FLOW
$107

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.

$265,000

PROJECTED PRICE

$1,490

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 5.3%
Maintenance Year (1-5) 8.00%
Vacancy 6.57%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$75,975

INVESTMENT

$75,975

Down Payment
$66,250
Rehab Estimate
$5,750
Closing Costs
$3,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$920

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $66,250
Loan Amount $198,750
See What Happens When You Reinvest Cash Flow

7.08

YEARS SAVED

$22,314

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,490

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $1,544

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,4903$1,5254$1,5505$1,645
$1,645
RENT COMPS ANALYSIS
  • 1216 Crossbow Circle Nw Concord, NC 2
    • 3 beds 2 baths ∙ 1,954 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,954 Sqft ∙ Built 1964
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,490
    • $0.76
    •  
  • 3003 Dylan Place Nw Concord, NC 1
    • 3 beds 2 baths ∙ 1,788 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,788 Sqft ∙ Built 1992
    property image
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.78
    •  
  • 231 Christianna Court Concord, NC 3
    • 3 beds 2 baths ∙ 1,946 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,946 Sqft ∙ Built 2003
    property image
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.78
    •  
  • 3698 Lake Spring Avenue Concord, NC 4
    • 4 beds 3 baths ∙ 2,024 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,024 Sqft ∙ Built 1993
    property image
    LEASED 03/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.77
    •  
  • 3659 Ivy Grove Court Concord, NC 5
    • 4 beds 3 baths ∙ 2,019 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,019 Sqft ∙ Built 1996
    property image
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,645
    • $0.81
    •  
PROPERTY LISTING DETAILS
Diane Honeycutt
1.704.721.7130
Allen Tate Concord
BESbswy