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1218 Rachel Anne Drive Belmont, NC 28012

4 Beds 3 Baths 2,818 sqft Built 2008

$394,900

List Price

$2,350

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2008
  • Price/Sqft : $140.13
  • -16 Days on Market
  • MLS # : CAR3761738
  • Updated Date : 07/12/2021 at 21:34
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,818 sqft
  • Baths : 3 full
Listing Agent

Exp Realty Llc

Listing Agent's Description

Situated on a quiet street ending in a cul-de-sac with a beautiful and relaxing wood view off of the rear deck. A spacious front porch will allow you to enjoy sitting and enjoying the community. A beautiful, open floor plan including a kitchen with granite counter tops that opens to casual dining and great room sharing a double sided gas fireplace with a sun/sitting room. The kitchen was recently upgraded to white cabinets and new stainless appliances inc. a side-by-side fridge with water/ice dispenser. A spacious Master suite with 2 closets sits on the main and a split floor design allows your guests to enjoy their privacy with a shared 2nd BA. There is a 4th bedroom/bonus room upstairs with full bath and a large closet. Wonderful neighbors and near to the community pool. The South Point High School and brand new Belmont Middle School are both within walking distance along with Grocery and food. A new Chick-fil-a is less than 1 mile away. Listing Agent and Co-Listing Agent are owners.

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: 28012

ZipNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210kPrice in $113k213k

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

Zip Code: 28012

ZipNIR Market*CityMarket2010Year20002019 Q285090095010001050110011501200125013001350Rent in $8421396

* 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
Belmont Central Elementary School Primary Regular 678 35 7
Belmont Middle School Middle Regular 726 39 6
South Point High School High Regular 1,101 61 6

Belmont Central Elementary School

  • Education Level: Primary
  • # of students: 678
  • # of teachers: 35
7
GreatSchools Rating

Belmont Middle School

  • Education Level: Middle
  • # of students: 726
  • # of teachers: 39
6
GreatSchools Rating

South Point High School

  • Education Level: High
  • # of students: 1,101
  • # of teachers: 61
6
GreatSchools Rating
 

$355,410$434,390$394,900

PURCHASE PRICE

$2,115$2,585$2,350

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,350
EXPENSES Loan Payment -$1,372
Property Tax -$296
Property Insurance -$80
HOA -$46
Property Management Fees -$119
CASH FLOW
$438

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.

$394,900

PROJECTED PRICE

$2,350

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 5.4%
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$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k

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$110,399

INVESTMENT

$110,399

Down Payment
$98,725
Rehab Estimate
$5,750
Closing Costs
$5,924

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$1,372

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $98,725
Loan Amount $296,175
See What Happens When You Reinvest Cash Flow

10.67

YEARS SAVED

$64,517

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $2,388

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,2503$2,4504$2,4955$2,545
$2,545
RENT COMPS ANALYSIS
  • 1218 Rachel Anne Drive Belmont, NC 1
    • 4 beds 3 baths ∙ 2,818 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,818 Sqft ∙ Built 2008
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 45 Catawba Street Belmont, NC 2
    • 3 beds 3 baths ∙ 2,623 Sqft ∙ Built 1916 3 beds 3 baths ∙ 2,623 Sqft ∙ Built 1916
    LEASED 03/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.86
    •  
  • 6013 Thorburn Way Belmont, NC 3
    • 5 beds 4 baths ∙ 3,068 Sqft ∙ Built 2012 5 beds 4 baths ∙ 3,068 Sqft ∙ Built 2012
    LEASED 10/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.80
    •  
  • 316 S Main Street Belmont, NC 4
    • 3 beds 3 baths ∙ 2,620 Sqft ∙ Built 1930 3 beds 3 baths ∙ 2,620 Sqft ∙ Built 1930
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.95
    •  
  • 1072 Victoria Blake Lane Belmont, NC 5
    • 5 beds 3 baths ∙ 3,121 Sqft ∙ Built 2007 5 beds 3 baths ∙ 3,121 Sqft ∙ Built 2007
    LEASED 03/22/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,545
    • $0.82
    •  
PROPERTY LISTING DETAILS
Analyn Chua
1.704.756.0323
Exp Realty Llc
BESbswy