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PROPERTY INFO
FACTS
- Single Family
- Built In 1971
- Price/Sqft : $157.52
- 2 Days on Market
- MLS # : CAR3761671
- Updated Date : 07/12/2021 at 20:57
CONSTRUCTION
- Beds : 3
- Floor Size : 1,650 sqft
- Baths : 2 full
Listing Agent
Coldwell Banker Boyd & Hassell
Listing Agent's Description
This 3 bedroom, 2 bath brick home has a full basement and is move-in ready! It also has an enclosed sunroom that looks out onto a fenced garden. It has a garage, a double carport & an outbuilding. The kitchen features granite countertops & a tile backsplash. The living room has a gas log fireplace. Updates include some fresh paint & new flooring. The basement has a rec room (not heated), storage & a workshop. This is a great home & won't last long!
SEE MORE
- 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
Zip Code: 28650
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 28650
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,560 |
| EXPENSES | Loan Payment | -$903 |
| Property Tax | -$119 | |
| Property Insurance | -$57 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$362
|
||
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.
$259,900
PROJECTED PRICE
$1,560
PROJECTED RENT
0.60%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 2.50% |
| Appreciation Year (1-5) | 7.0% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.00% |
| 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
$74,624
LOAN DETAILS
$903
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $64,975 |
| Loan Amount | $194,925 |
12.08
YEARS SAVED
$49,530
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,560
LIST RENT -
$0.95
LIST RENT PER SQFT
-
$1,683
COMP ESTIMATED VALUE -
$1.02
COMP AVG. RENT PER SQFT
Comps Range
-
1260 Zeb Haynes Road Maiden, NC 2
- 3 beds 2 baths ∙ 1,650 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,650 Sqft ∙ Built 1971
- Rent
- Rent Per SQFT
- $1,560
- $0.95
-
8 E Holly Street Maiden, NC 1
- 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 3 beds 2 baths ∙ 1,300 Sqft ∙ Built
LEASED 11/17/20- Rent
- Rent Per SQFT
- $1,325
- $1.02
PROPERTY LISTING DETAILS
1.828.310.4899
Coldwell Banker Boyd & Hassell
