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PROPERTY INFO
FACTS
- Single Family
- Built In 1961
- Price/Sqft : $122.95
- 4 Days on Market
- MLS # : 3700265
- Updated Date : 01/22/2021 at 13:50
CONSTRUCTION
- Beds : 3
- Floor Size : 1,464 sqft
- Baths : 1 full
Listing Agent
Odell Realty, Llc
Listing Agent's Description
So many things to love about this beautifully remodeled ranch in Gastonia! At the end of a quiet culdesac, this home has a large repainted front porch, new landscaping in the front yard, and a level backyard that is fenced in. The backyard also boasts a large wired workshop that has recently been re-sided. The home has fresh paint inside and out, new vinyl plank flooring, all new insulated windows, new hot water heater, new pex plumbing, and an all new kitchen with new cabinets and appliances! The chimney has been cleaned and serviced and there's even a space in the home for a full bathroom to be added if desired. Just up the street you'll find Ferguson Park, the Catawba Creek Golf Course, and Avon & Catawba Creeks Greenway!
SEE MORE
- 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
Zip Code: 28054
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 28054
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,300 |
| EXPENSES | Loan Payment | -$625 |
| Property Tax | -$149 | |
| Property Insurance | -$55 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$352
|
||
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.
$180,000
PROJECTED PRICE
$1,300
PROJECTED RENT
0.72%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 2.94% |
| Appreciation Year (1-5) | 6.0% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.02% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$53,450
LOAN DETAILS
$625
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $45,000 |
| Loan Amount | $135,000 |
14.17
YEARS SAVED
$41,536
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,300
LIST RENT -
$0.89
LIST RENT PER SQFT
-
$1,318
COMP ESTIMATED VALUE -
$0.9
COMP AVG. RENT PER SQFT
Comps Range
-
1255 Hudson Avenue Gastonia, NC 3
- 3 beds 1 baths ∙ 1,464 Sqft ∙ Built 1961 3 beds 1 baths ∙ 1,464 Sqft ∙ Built 1961
- Rent
- Rent Per SQFT
- $1,300
- $0.89
-
1218 Congress Street Gastonia, NC 1
- 3 beds 1 baths ∙ 1,213 Sqft ∙ Built 1920 3 beds 1 baths ∙ 1,213 Sqft ∙ Built 1920
LEASED 11/16/20- Rent
- Rent Per SQFT
- $1,050
- $0.87
-
1011 Holly Drive Gastonia, NC 2
- 3 beds 2 baths ∙ 1,260 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,260 Sqft ∙ Built 1964
LEASED 04/13/20- Rent
- Rent Per SQFT
- $1,208
- $0.96
-
607 S South Street Gastonia, NC 4
- 3 beds 1 baths ∙ 1,696 Sqft ∙ Built 1926 3 beds 1 baths ∙ 1,696 Sqft ∙ Built 1926
LEASED 08/24/20- Rent
- Rent Per SQFT
- $1,419
- $0.84
-
207 Forest Hill Lane Gastonia, NC 5
- 3 beds 2 baths ∙ 1,629 Sqft ∙ Built 1929 3 beds 2 baths ∙ 1,629 Sqft ∙ Built 1929
LEASED 01/14/21- Rent
- Rent Per SQFT
- $1,580
- $0.97
PROPERTY LISTING DETAILS
1.704.942.6337
Odell Realty, Llc
