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12658 Woodside Falls Road Pineville, NC 28134

4 Beds 3 Baths 2,364 sqft Built 1988

$330,000

List Price

$1,890

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $139.59
  • 2 Days on Market
  • MLS # : 3697656
  • Updated Date : 01/16/2021 at 13:07
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,364 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Ballantyne Area

Listing Agent's Description

4 Bed, 2.5 bath home in sought after Woodside Falls. Private Cul-de-sac home on 0.39 acres backs up to a seasonal stream/ wooded walking trails. Updated with solid floors except the Master. Carpet installed in 2021. Updated Kitchen, Granite w/ custom cabinets and Island for additional workspace. Stainless appliances except fridge. Huge Family room with Fireplace that flows into the kitchen for family get togethers. Dining Room with recessed lighting. Media Room w/ built in cabinetry. Walk in closet in MB with in-suite bath. Windows 2008 with warranty. Roof in 2010. Addt'l HVAC System added 2009. 80 gallon Energy Star water heater 2017. Plumbing changed to PEX in 2010. Siding in 2014. Deck replaced in 2020. Property has been vacant for 1 year and could use some landscaping and fence repairs. Neighborhood has, pool, pond, playground, multi sport court, walking trails and Street Lamps. Walking distance to Ballantyne Shopping and I-485. Perfect location for a growing family.

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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: Ballantyne West

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $108k318k

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

Neighborhood: Ballantyne West

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700180019002000Rent in $8442026

* 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
 

$297,000$363,000$330,000

PURCHASE PRICE

$1,701$2,079$1,890

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,890
EXPENSES Loan Payment -$1,146
Property Tax -$257
Property Insurance -$72
HOA -$32
Property Management Fees -$119
CASH FLOW
$264

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.

$330,000

PROJECTED PRICE

$1,890

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 4.3%
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$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$93,200

INVESTMENT

$93,200

Down Payment
$82,500
Rehab Estimate
$5,750
Closing Costs
$4,950

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,146

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $82,500
Loan Amount $247,500
See What Happens When You Reinvest Cash Flow

9.67

YEARS SAVED

$46,108

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,890

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $1,992

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,8903$1,9504$2,0005$2,045
$2,045
RENT COMPS ANALYSIS
  • 12658 Woodside Falls Road Pineville, NC 2
    • 4 beds 3 baths ∙ 2,364 Sqft ∙ Built 1988 4 beds 3 baths ∙ 2,364 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $1,890
    • $0.80
    •  
  • 14529 Limestone Lane Pineville, NC 1
    • 3 beds 3 baths ∙ 2,252 Sqft ∙ Built 1993 3 beds 3 baths ∙ 2,252 Sqft ∙ Built 1993
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.82
    •  
  • 15002 Strathmoor Drive Charlotte, NC 3
    • 3 beds 3 baths ∙ 2,270 Sqft ∙ Built 1999 3 beds 3 baths ∙ 2,270 Sqft ∙ Built 1999
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.86
    •  
  • 13405 Honeytree Lane Pineville, NC 4
    • 4 beds 3 baths ∙ 2,420 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,420 Sqft ∙ Built 2000
    LEASED 09/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.83
    •  
  • 12145 Autumn Winds Lane Pineville, NC 5
    • 4 beds 3 baths ∙ 2,367 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,367 Sqft ∙ Built 2000
    LEASED 10/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,045
    • $0.86
    •  
PROPERTY LISTING DETAILS
Joey Lindsey
1.704.904.7778
Keller Williams Ballantyne Area
BESbswy