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12305 Scott Creek Drive Charlotte, NC 28213

4 Beds 3 Baths 3,042 sqft Built 2008

$350,000

List Price

$1,770

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2008
  • Price/Sqft : $115.06
  • 5 Days on Market
  • MLS # : 3720706
  • Updated Date : 03/25/2021 at 09:33
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,042 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Executive

Listing Agent's Description

You will love this gorgeous home! The front porch welcomes you inside featuring beautiful formal areas, huge chef’s kitchen with granite, fabulous island and tons of cabinets, huge breakfast area overlooking private back yard, den/keeping room with shiplap decor surrounding fireplace with gas logs, so cozy, yet open with room for everyone! Upstairs is a fabulous bonus room for the kids and/or adults, great open space for anything your family needs. The master bedroom is a true master suite with deep tray ceiling and lots of room, wonderful walk-in closets in all but one of the bedrooms, perfect for an office. The private back yard adjoins common area and features a patio and a clean slate for whatever you can envision.

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: Back Creek Church Road

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $116k318k

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

Neighborhood: Back Creek Church Road

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8441809

* 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
University Meadows Elementary School Primary Regular 657 45 4
James Martin Middle School Middle Regular 1,113 54 3
Vance High School High Regular 1,714 91 3

University Meadows Elementary School

  • Education Level: Primary
  • # of students: 657
  • # of teachers: 45
4
GreatSchools Rating

James Martin Middle School

  • Education Level: Middle
  • # of students: 1,113
  • # of teachers: 54
3
GreatSchools Rating

Vance High School

  • Education Level: High
  • # of students: 1,714
  • # of teachers: 91
3
GreatSchools Rating
 

$315,000$385,000$350,000

PURCHASE PRICE

$1,593$1,947$1,770

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,770
EXPENSES Loan Payment -$1,216
Property Tax -$305
Property Insurance -$84
Property Management Fees -$119
CASH FLOW
$46

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.

$350,000

PROJECTED PRICE

$1,770

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 7.4%
Maintenance Year (1-5) 8.00%
Vacancy 6.31%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

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$98,500

INVESTMENT

$98,500

Down Payment
$87,500
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,216

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,500
Loan Amount $262,500
See What Happens When You Reinvest Cash Flow

6.33

YEARS SAVED

$25,378

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,770

    LIST RENT
  • $0.59

    LIST RENT PER SQFT
  • $1,767

    COMP ESTIMATED VALUE
  • $0.59

    COMP AVG. RENT PER SQFT
Comps Range
$1,770
1$1,7702$1,7753$1,8154$1,8505$1,995
$1,995
RENT COMPS ANALYSIS
  • 12305 Scott Creek Drive Charlotte, NC 1
    • 4 beds 3 baths ∙ 3,008 Sqft ∙ Built 2008 4 beds 3 baths ∙ 3,008 Sqft ∙ Built 2008
    • Rent
    • Rent Per SQFT
    •  
    • $1,770
    • $0.59
    •  
  • 9911 Jeanette Circle Charlotte, NC 2
    • 4 beds 3 baths ∙ 3,127 Sqft ∙ Built 2004 4 beds 3 baths ∙ 3,127 Sqft ∙ Built 2004
    LEASED 05/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.57
    •  
  • 2605 Impatien Drive Charlotte, NC 3
    • 4 beds 3 baths ∙ 3,210 Sqft ∙ Built 2015 4 beds 3 baths ∙ 3,210 Sqft ∙ Built 2015
    LEASED 12/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,815
    • $0.57
    •  
  • 9326 John Russell Road Charlotte, NC 4
    • 3 beds 3 baths ∙ 3,011 Sqft ∙ Built 2004 3 beds 3 baths ∙ 3,011 Sqft ∙ Built 2004
    LEASED 03/10/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.61
    •  
  • 3014 Oconee Lane Charlotte, NC 5
    • 5 beds 3 baths ∙ 3,310 Sqft ∙ Built 2002 5 beds 3 baths ∙ 3,310 Sqft ∙ Built 2002
    LEASED 02/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.60
    •  
PROPERTY LISTING DETAILS
Debbie Viscount
1.704.607.2299
Re/max Executive
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3720706
Last Updated: 03/25/2021
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