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12529 Druids Glen Drive Pineville, NC 28134

3 Beds 3 Baths 2,292 sqft Built 2013

$333,500

List Price

$1,710

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2013
  • Price/Sqft : $145.51
  • 15 Days on Market
  • MLS # : 3685798
  • Updated Date : 12/05/2020 at 00:05
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,292 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Select

Listing Agent's Description

Ready for Christmas, but it shows like Spring! This beautiful 2-story transitional home boasts tons of natural light, open floor plan, spacious rooms great finishes. The large kitchen with granite topped island opens to a huge family room as well as a cozy, yet ample dining room. Though this home backs up to alley parking (2-car garage), you still have a back yard. New paint, and spacious bedrooms with a loft upstairs just add to this gem. Don't forget the location. Right near the heart of retail and restaurants in Pineville and South Blvd. Also, minutes from Ballantyne 485, SC and I-77.

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

Neighborhood: Pineville

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230k240k250kPrice in $108k251k

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

Neighborhood: Pineville

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8421652

* 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
Pineville Elementary School Primary Regular 811 45 7
Quail Hollow Middle School Middle Regular 946 51 3
South Mecklenburg High School High Regular 2,913 147 7

Pineville Elementary School

  • Education Level: Primary
  • # of students: 811
  • # of teachers: 45
7
GreatSchools Rating

Quail Hollow Middle School

  • Education Level: Middle
  • # of students: 946
  • # of teachers: 51
3
GreatSchools Rating

South Mecklenburg High School

  • Education Level: High
  • # of students: 2,913
  • # of teachers: 147
7
GreatSchools Rating
 

$300,150$366,850$333,500

PURCHASE PRICE

$1,539$1,881$1,710

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,710
EXPENSES Loan Payment -$1,230
Property Tax -$276
Property Insurance -$70
HOA -$42
Property Management Fees -$119
CASH FLOW
-$27

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$333,500

PROJECTED PRICE

$1,710

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 9.2%
Maintenance Year (1-5) 8.00%
Vacancy 6.57%
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-$4.0k-$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$94,128

INVESTMENT

$94,128

Down Payment
$83,375
Rehab Estimate
$5,750
Closing Costs
$5,003

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,230

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $83,375
Loan Amount $250,125
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$18,699

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,710

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $1,874

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,710
1$1,7102$1,8503$1,9504$1,9505$2,000
$2,000
RENT COMPS ANALYSIS
  • 12529 Druids Glen Drive Pineville, NC 1
    • 3 beds 3 baths ∙ 2,292 Sqft ∙ Built 2013 3 beds 3 baths ∙ 2,292 Sqft ∙ Built 2013
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,710
    • $0.75
    •  
  • 12020 Virginia Pine Lane Pineville, NC 2
    • 4 beds 3 baths ∙ 2,288 Sqft ∙ Built 2012 4 beds 3 baths ∙ 2,288 Sqft ∙ Built 2012
    property image
    LEASED 04/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.81
    •  
  • 14425 Green Birch Drive Pineville, NC 3
    • 4 beds 3 baths ∙ 2,378 Sqft ∙ Built 2012 4 beds 3 baths ∙ 2,378 Sqft ∙ Built 2012
    property image
    LEASED 07/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.82
    •  
  • 2212 Atwell Glen Lane Pineville, NC 4
    • 4 beds 3 baths ∙ 2,411 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,411 Sqft ∙ Built 2015
    property image
    LEASED 08/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.81
    •  
  • 13405 Honeytree Lane Pineville, NC 5
    • 4 beds 3 baths ∙ 2,420 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,420 Sqft ∙ Built 2000
    property image
    LEASED 09/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.83
    •  
PROPERTY LISTING DETAILS
Danny King
1.704.608.8157
Keller Williams Select
BESbswy