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1218 Rising Oak Drive Charlotte, NC 28206

3 Beds 3 Baths 1,674 sqft Built 2005

$265,000

List Price

$1,470

$1.3K - $1.6K

Rent Est.

$75,975

Investment Est.

AVAILABLE

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AVAILABLE

1 Year
(+9.9%)
1 YR. PROJ. APPRECIATION


Cap Rate	3.4%
Cash Flow	-$0
Value Increase	$26,777

10 YEAR

Cash On Cash	-2.2%
Total Return	13.8%

PROPERTY INFO

November 28, 2020 RECENTLY ADDED

FACTS

Single Family
Built In 2005
Price/Sqft : $158.30
2 Days on Market
MLS # : 3686438
Updated Date : 11/28/2020 at 15:41

CONSTRUCTION

Beds : 3
Floor Size : 1,674 sqft
Baths : 2 full , 1 half

Listing Agent

Exp Realty

Listing Agent's Description

Amazing location!!! Minutes from Uptown, Camp North End & the Boiler Room. Cute home with plenty of potential. Good floor plan needing cosmetic work. Upstairs, nicely sized master bedroom and secondary bedrooms with Jack and Jill bath. Downstairs, galley style kitchen with breakfast area open to living room. Flex space with french doors can be used as formal dining or office/flex space. Big patio for entertaining, and long extended driveway for plenty of parking. Pull down ladder attic access leading to attic with storage space, and additional storage space attached to rear of home. HVAC 2016/2018, energy efficient water heater 2016. Original roof. Selling as-is, priced accordingly, see disclosures.

1 of 20 X

MARKET HIGHLIGHTS

Charlotte Market Report

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)

Neighborhood: Double Oaks

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

Neighborhood: Double Oaks

* 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
Walter G Byers School	Primary	Regular	493	41	2
Walter G Byers School	Middle	Regular	493	41	2
West Charlotte High School	High	Regular	1,777	109	3

Walter G Byers School

Education Level: Primary
# of students: 493
# of teachers: 41

GreatSchools Rating

Walter G Byers School

Education Level: Middle
# of students: 493
# of teachers: 41

GreatSchools Rating

West Charlotte High School

Education Level: High
# of students: 1,777
# of teachers: 109

GreatSchools Rating

FINANCIALS

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$238,500$291,50000$265,000

PURCHASE PRICE

$1,323$1,61700$1,470

RENT

DOWN PAYMENT

FINANCING

OFF ON

Acquisition Concierge

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PROPERTY

Expense Inflation	%
Vacancy	%
Length of Stay
Expense Inflation	%
Vacancy	%
Length of Stay

YEAR (1-5)

Appreciation	%
Rental Growth	%
Maintenance	%

YEAR (1-5)

Appreciation	%
Rental Growth	%
Maintenance	%

YEAR (6+)

Appreciation	%
Rental Growth	%
Maintenance	%

INVESTMENT

Rehab Costs
Reinvest Cash Flow	Yes No
Interest Rate	%

INVESTMENT

Rehab Costs
Reinvest Cash Flow	Yes No
Interest Rate	%

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FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME	Rent	$1,470
EXPENSES	Loan Payment	-$978
	Property Tax	-$293
	Property Insurance	-$59
	HOA	-$8
	Property Management Fees	-$132



CASH FLOW $0

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.

$265,000

PROJECTED PRICE

$1,470

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS
Expense Inflation	2.50%
Rental Growth Year (1-5)	2.94%
Appreciation Year (1-5)	9.9%
Maintenance Year (1-5)	8.00%
Vacancy	6.02%
Length of Stay Years	2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

Cash Flow
Appreciation
Principal

PROJECTED ANNUAL CASH FLOW

Tenant Turnover

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

Appreciation
Principal
Loan Balance

TOTAL CASH OUT OF POCKET

INVESTMENT

$75,975

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

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$978

MONTHLY LOAN PAYMENT

30 yr

4.25%

25.00%

Down Payment

Term	30 Years
Interest	4.25%
Down Payment	$66,250
Loan Amount	$198,750

See What Happens When You Reinvest Cash Flow

4.08

YEARS SAVED

$12,230

INTEREST SAVED

CASH FLOW REINVESTMENT

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

$1,470
LIST RENT
$0.88
LIST RENT PER SQFT

$1,461
COMP ESTIMATED VALUE
$0.87
COMP AVG. RENT PER SQFT

Comps Range

$1,150

1$1,1502$1,3503$1,4704$1,5005$1,750

$1,750

RENT COMPS ANALYSIS

1,674
PROPERTY SQFT
$0.87
AVG RENT PER SQFT
$1,461
ESTIMATED VALUE
$1,470
LIST RENT

1218 Rising Oak Drive Charlotte, NC 4

3 beds 3 baths ∙ 1,674 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,674 Sqft ∙ Built 2005
Price

Price Per SQFT

$265,000

$158.30
837 Holland Avenue Charlotte, NC 1

3 beds 3 baths ∙ 1,396 Sqft ∙ Built 2019 3 beds 3 baths ∙ 1,396 Sqft ∙ Built 2019
SOLD 12/12/19
Price

Price Per SQFT

$160,700

$115.11
1121 Polk Street Charlotte, NC 2

4 beds 3 baths ∙ 1,432 Sqft ∙ Built 1991 4 beds 3 baths ∙ 1,432 Sqft ∙ Built 1991
SOLD 09/03/20
Price

Price Per SQFT

$219,900

$153.56
1601 Washington Avenue Charlotte, NC 3

3 beds 2 baths ∙ 1,487 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,487 Sqft ∙ Built 2002
SOLD 01/17/20
Price

Price Per SQFT

$250,000

$168.12
1921 Stroud Park Court Charlotte, NC 5

3 beds 3 baths ∙ 1,861 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,861 Sqft ∙ Built 2005
SOLD 06/03/20
Price

Price Per SQFT

$299,900

$161.15

1218 Rising Oak Drive Charlotte, NC 3

3 beds 3 baths ∙ 1,674 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,674 Sqft ∙ Built 2005
Rent

Rent Per SQFT

$1,470

$0.88
2300 Olando Street Charlotte, NC 1

3 beds 2 baths ∙ 1,345 Sqft ∙ Built 3 beds 2 baths ∙ 1,345 Sqft ∙ Built
LEASED 04/15/20
Rent

Rent Per SQFT

$1,150

$0.86
1425 Moretz Avenue Charlotte, NC 2

3 beds 2 baths ∙ 1,625 Sqft ∙ Built 1950 3 beds 2 baths ∙ 1,625 Sqft ∙ Built 1950
LEASED 10/28/19
Rent

Rent Per SQFT

$1,350

$0.83
902 Druid Circle Charlotte, NC 4

3 beds 2 baths ∙ 1,800 Sqft ∙ Built 1950 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 1950
LEASED 05/07/20
Rent

Rent Per SQFT

$1,500

$0.83
1921 Stroud Park Court Charlotte, NC 5

3 beds 3 baths ∙ 1,858 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,858 Sqft ∙ Built 2005
LEASED 02/19/20
Rent

Rent Per SQFT

$1,750

$0.94

PROPERTY LISTING DETAILS

Kim Hanushek
1.704.618.6081
Exp Realty

1218 Rising Oak Drive Charlotte, NC 28206

$265,000

$1,470

$75,975

REQUEST INFO

PROPERTY INFO

FACTS

CONSTRUCTION

Listing Agent

Listing Agent's Description

MARKET HIGHLIGHTS

PRICE & RENT TRENDS

SCHOOLS

Walter G Byers School

Walter G Byers School

West Charlotte High School

FINANCIALS

$238,500$291,50000$265,000

$1,323$1,61700$1,470

Acquisition Concierge

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

$265,000

$1,470

0.55%

PROJECTED ACCUMULATED WEALTH

PROJECTED ANNUAL CASH FLOW

PROJECTED PROPERTY VALUE

TOTAL CASH OUT OF POCKET

INVESTMENT

LOAN DETAILS

25%

$978

4.08

$12,230

$265,000

$158.3

$250,238

$149.49

COMPS RANGE

PRICE COMPS ANALYSIS

$1,470

$0.88

$1,461

$0.87

Comps Range

RENT COMPS ANALYSIS

PROPERTY LISTING DETAILS