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122 Gentry Family Lane #2 Candler, NC 28715

3 Beds 2 Baths 1,203 sqft Built 2021

$297,900

List Price

$1,530

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
SINGLE-FAMILY
July 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $247.63
  • 3 Days on Market
  • MLS # : CAR3760412
  • Updated Date : 07/12/2021 at 19:16
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,203 sqft
  • Baths : 2 full
Listing Agent

High Vistas Realty

Listing Agent's Description

This charming off-frame modular home features 3 bedrooms and two full baths in an open, split floor plan. The large primary bedroom features a spacious bathroom with double vanity and a roomy walk-in closet. All stainless steel appliances, plenty of cabinet space and granite countertops highlight the kitchen, and rich luxury vinyl plank flooring runs throughout. Full basement with stubbed out plumbing for bathroom/bar/kitchen. Located in quiet neighborhood, yet convenient access to major highways and interstates, shopping, schools and more.

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: 28715

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $95k265k

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

Zip Code: 28715

ZipNIR Market*CityMarket2015Year2011 Q42019 Q2100010501100115012001250130013501400145015001550Rent in $9881577

* 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
Candler Elementary School Primary Regular 572 34 4

Candler Elementary School

  • Education Level: Primary
  • # of students: 572
  • # of teachers: 34
4
GreatSchools Rating
 

$268,110$327,690$297,900

PURCHASE PRICE

$1,377$1,683$1,530

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,530
EXPENSES Loan Payment -$1,035
Property Tax -$148
Property Insurance -$49
Property Management Fees -$119
CASH FLOW
$179

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 8% of earned rent to cover both maintenance and periods of vacancy.

$297,900

PROJECTED PRICE

$1,530

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 6.0%
Maintenance Year (1-5) 3.00%
Vacancy 5.20%
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$16k$18k

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$80,944

INVESTMENT

$80,944

Down Payment
$74,475
Rehab Estimate
$2,000
Closing Costs
$4,469

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,035

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $74,475
Loan Amount $223,425
See What Happens When You Reinvest Cash Flow

9

YEARS SAVED

$37,939

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
  • COMP ESTIMATED VALUE
  • COMP AVG. RENT PER SQFT
Comps Range
$0
1$0
$0
RENT COMPS ANALYSIS
  • 122 Gentry Family Lane #2 Candler, NC
    • 3 beds 2 baths ∙ 1,203 Sqft ∙ Built 2021 3 beds 2 baths ∙ 1,203 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
PROPERTY LISTING DETAILS
Adam Brooks
1.828.275.0514
High Vistas Realty
BESbswy