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12520 Clackwyck Lane Charlotte, NC 28262

4 Beds 3 Baths 2,549 sqft Built 2006

$288,000

List Price

$1,620

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $112.99
  • 3 Days on Market
  • MLS # : 3682326
  • Updated Date : 11/14/2020 at 00:43
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,549 sqft
  • Baths : 2 full , 1 half
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Looking for a home that is convenient to all of life's amenities this is the home for you. This 4 bedroom 2.5 bathroom features an eat-in kitchen with plenty of space for cooking with your family or just for one. You have plenty of space for a formal dining, formal living space or home office. The upstairs features a loft area with 4 bedrooms and two full bathrooms. Master bedroom features a walk-in closet. Come make this beautiful home yours.

SEE MORE

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: Mallard Creek - Withrow Downs

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $116k318k

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

Neighborhood: Mallard Creek - Withrow Downs

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
Stoney Creek Elementary School Primary Regular 853 50 4
James Martin Middle School Middle Regular 1,113 54 3
Vance High School High Regular 1,714 91 3

Stoney Creek Elementary School

  • Education Level: Primary
  • # of students: 853
  • # of teachers: 50
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
 

$259,200$316,800$288,000

PURCHASE PRICE

$1,458$1,782$1,620

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,620
EXPENSES Loan Payment -$1,063
Property Tax -$251
Property Insurance -$75
HOA -$33
Property Management Fees -$146
CASH FLOW
$53

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.

$288,000

PROJECTED PRICE

$1,620

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 5.6%
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

PROJECTED ANNUAL CASH FLOW

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

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$82,070

INVESTMENT

$82,070

Down Payment
$72,000
Rehab Estimate
$5,750
Closing Costs
$4,320

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,063

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $72,000
Loan Amount $216,000
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$21,100

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,620

    LIST RENT
  • $0.64

    LIST RENT PER SQFT
  • $1,619

    COMP ESTIMATED VALUE
  • $0.64

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6203$1,6454$1,6505$1,650
$1,650
RENT COMPS ANALYSIS
  • 12520 Clackwyck Lane Charlotte, NC 2
    • 4 beds 3 baths ∙ 2,549 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,549 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,620
    • $0.64
    •  
  • 533 Wrayhill Drive Charlotte, NC 1
    • 4 beds 3 baths ∙ 2,553 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,553 Sqft ∙ Built 2007
    LEASED 02/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.62
    •  
  • 300 Wednesbury Boulevard Charlotte, NC 3
    • 4 beds 3 baths ∙ 2,575 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,575 Sqft ∙ Built 2000
    LEASED 12/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,645
    • $0.64
    •  
  • 15120 Oldcorn Lane Charlotte, NC 4
    • 4 beds 3 baths ∙ 2,540 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,540 Sqft ∙ Built 2006
    LEASED 05/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.65
    •  
  • 15208 Chowning Tavern Lane Charlotte, NC 5
    • 5 beds 3 baths ∙ 2,678 Sqft ∙ Built 2003 5 beds 3 baths ∙ 2,678 Sqft ∙ Built 2003
    LEASED 02/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.62
    •  
PROPERTY LISTING DETAILS
Erika White
1.704.451.0234
Coldwell Banker Realty
BESbswy