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1225 Alston Hill Drive Charlotte, NC 28214

4 Beds 3 Baths 2,080 sqft Built 2007

$249,900

List Price

$1,480

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

December 24, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $120.14
  • 4 Days on Market
  • MLS # : 3693621
  • Updated Date : 12/24/2020 at 16:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,080 sqft
  • Baths : 2 full , 1 half
Listing Agent

Sellstate Exclusive Realty

Listing Agent's Description

Well maintained comfy home with recently updated kitchen with Quartz Countertops, recess lighting, new flooring, and super deep sink. Crown molding on main level. Nicely sized bedrooms with huge master suite. Fenced backyard with 14x34 concrete patio perfect for entertaining. NO HOA, this home won't last!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Coulwood East

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $74k235k

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

Neighborhood: Coulwood East

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2700800900100011001200130014001500Rent in $6771518

* 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
Paw Creek Elementary School Primary Regular 530 37 5
Coulwood Middle School Middle Regular 694 45 7
West Mecklenburg High School High Regular 2,040 108 1

Paw Creek Elementary School

  • Education Level: Primary
  • # of students: 530
  • # of teachers: 37
5
GreatSchools Rating

Coulwood Middle School

  • Education Level: Middle
  • # of students: 694
  • # of teachers: 45
7
GreatSchools Rating

West Mecklenburg High School

  • Education Level: High
  • # of students: 2,040
  • # of teachers: 108
1
GreatSchools Rating
 

$224,910$274,890$249,900

PURCHASE PRICE

$1,332$1,628$1,480

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,480
EXPENSES Loan Payment -$922
Property Tax -$218
Property Insurance -$66
Property Management Fees -$119
CASH FLOW
$155

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.

$249,900

PROJECTED PRICE

$1,480

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 7.8%
Maintenance Year (1-5) 8.00%
Vacancy 6.02%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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$71,974

INVESTMENT

$71,974

Down Payment
$62,475
Rehab Estimate
$5,750
Closing Costs
$3,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$922

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,475
Loan Amount $187,425
See What Happens When You Reinvest Cash Flow

8.42

YEARS SAVED

$32,654

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,480

    LIST RENT
  • $0.71

    LIST RENT PER SQFT
  • $1,461

    COMP ESTIMATED VALUE
  • $0.7

    COMP AVG. RENT PER SQFT
Comps Range
$1,390
1$1,3902$1,3953$1,4804$1,4955$1,595
$1,595
RENT COMPS ANALYSIS
  • 1225 Alston Hill Drive Charlotte, NC 3
    • 4 beds 3 baths ∙ 2,080 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,080 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $1,480
    • $0.71
    •  
  • 1213 Jordans Pond Lane Charlotte, NC 1
    • 4 beds 3 baths ∙ 2,060 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,060 Sqft ∙ Built 2007
    LEASED 08/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,390
    • $0.67
    •  
  • 157 Mellwood Drive Charlotte, NC 2
    • 3 beds 3 baths ∙ 1,900 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,900 Sqft ∙ Built 2003
    LEASED 01/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.73
    •  
  • 1429 Jordans Pond Lane Charlotte, NC 4
    • 4 beds 3 baths ∙ 2,148 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,148 Sqft ∙ Built 2008
    LEASED 02/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.70
    •  
  • 7003 Bullock Drive Charlotte, NC 5
    • 4 beds 3 baths ∙ 2,248 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,248 Sqft ∙ Built 2005
    LEASED 05/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.71
    •  
PROPERTY LISTING DETAILS
Jennifer Khounbolay
1.980.345.9441
Sellstate Exclusive Realty
BESbswy