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12405 High Valley Lane # 30 Charlotte, NC 28269

3 Beds 3 Baths 1,865 sqft Built 1993

INVESTimate

$279,500

List Price

$1,610

$1,449 - $1,771

Rent Est.

$297,332  ( +6.38%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1993
  • Price/Sqft : $149.87
  • 9 Days on Market
  • MLS # : 3652725
  • Updated Date : 08/25/2020 at 16:31
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,865 sqft
  • Baths : 2 full , 1 half
Listing Agent

Ivester Jackson Distinctive Properties

Listing Agent's Description

This home is located in a quaint, private and charming cul de sac. Hard flooring installed throughout with tile kitchen and bathrooms. Large private fenced backyard with firepit and garden. Recently replaced AC system. The kitchen has been updated with granite countertops, gas range and stainless steel appliances. REMARKABLE VALUE: One of only 4 single family homes under $280K in Charlotte with at least the following: 1850sf, 3 bedrooms, 3 bathrooms, a 2 car garage, minimum of .31 acres. Don’t miss out on this opportunity. This home is move in ready and will go quickly.

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MARKET HIGHLIGHTS

  • 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)

PRICE & RENT TRENDS

Neighborhood: Prosperity Church Road

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $116k318k

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

Neighborhood: Prosperity 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
Croft Community School Primary Regular 644 35 NA
Ridge Road Middle School Middle Regular 1,285 65 6
Mallard Creek High School High Regular 2,472 123 6

Croft Community School

  • Education Level: Primary
  • # of students: 644
  • # of teachers: 35
NA
GreatSchools Rating

Ridge Road Middle School

  • Education Level: Middle
  • # of students: 1,285
  • # of teachers: 65
6
GreatSchools Rating

Mallard Creek High School

  • Education Level: High
  • # of students: 2,472
  • # of teachers: 123
6
GreatSchools Rating
 

$251,550$307,450$279,500

PURCHASE PRICE

$1,449$1,771$1,610

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,610
EXPENSES Loan Payment -$1,031
Property Tax -$244
Property Insurance -$68
HOA -$17
Property Management Fees -$145
CASH FLOW
$106

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.

$279,500

PROJECTED PRICE

$1,610

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 6.38%
Maintenance Year (1-5) 8.00%
Vacancy 6.31%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,818

INVESTMENT

$79,818

Down Payment
$69,875
Rehab Estimate
$5,750
Closing Costs
$4,193

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,031

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $69,875
Loan Amount $209,625
See What Happens When You Reinvest Cash Flow

6.58

YEARS SAVED

$26,588

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,610

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $1,623

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,5503$1,5504$1,6105$1,650
$1,650
RENT COMPS ANALYSIS
  • 12405 High Valley Lane Charlotte, NC 4
    • 3 beds 3 baths ∙ 2,150 Sqft ∙ Built 1993 3 beds 3 baths ∙ 2,150 Sqft ∙ Built 1993
    • Rent
    • Rent Per SQFT
    •  
    • $1,610
    • $0.75
    •  
  • 5121 Stone Park Drive Charlotte, NC 1
    • 3 beds 3 baths ∙ 2,168 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,168 Sqft ∙ Built 2006
    LEASED 12/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.71
    •  
  • 4804 Avalon Forest Lane Charlotte, NC 2
    • 3 beds 3 baths ∙ 2,106 Sqft ∙ Built 1996 3 beds 3 baths ∙ 2,106 Sqft ∙ Built 1996
    LEASED 12/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.74
    •  
  • 4319 Wynborough Lane Charlotte, NC 3
    • 4 beds 2 baths ∙ 2,004 Sqft ∙ Built 1994 4 beds 2 baths ∙ 2,004 Sqft ∙ Built 1994
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.77
    •  
  • 10238 Stoneykirk Lane Charlotte, NC 5
    • 3 beds 3 baths ∙ 2,200 Sqft ∙ Built 1998 3 beds 3 baths ∙ 2,200 Sqft ∙ Built 1998
    LEASED 03/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.75
    •  
PROPERTY LISTING DETAILS
Betsy Stec Market
1.704.619.8603
Ivester Jackson Distinctive Properties
BESbswy