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12709 Oldehurst Place Charlotte, NC 28262

4 Beds 4 Baths 2,525 sqft Built 2007

$290,000

List Price

$1,620

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

February 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $114.85
  • 4 Days on Market
  • MLS # : 3705550
  • Updated Date : 02/13/2021 at 12:39
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,525 sqft
  • Baths : 3 full , 1 half
Listing Agent

Elite Team Realty

Listing Agent's Description

Welcome home!!! Beautiful 2 Story Home w/2 car garage located in a cul-de-sac! 4 bedroom 3.5 bath home. Open kitchen and floor plan. Large bedrooms. Master bath is oversized, has dual sinks and separate tub and shower. Large walk in closet. Home is currently rented at $1525. Lease expires 7/31/2021. Tenant has not yet been given notice to vacate. Buyer must honor lease. Seller looking to sell home AS IS. Seller is calling for highest and best to be presented by 9:00 a.m. Sunday February 14th l. Pease email all offers to shelley@elitecarolinas.com.

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
 

$261,000$319,000$290,000

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 -$1,007
Property Tax -$253
Property Insurance -$75
HOA -$33
Property Management Fees -$119
CASH FLOW
$134

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.

$290,000

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$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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$82,600

INVESTMENT

$82,600

Down Payment
$72,500
Rehab Estimate
$5,750
Closing Costs
$4,350

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,007

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $72,500
Loan Amount $217,500
See What Happens When You Reinvest Cash Flow

7.92

YEARS SAVED

$29,672

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
  • $1,774

    COMP ESTIMATED VALUE
  • $0.7

    COMP AVG. RENT PER SQFT
Comps Range
$1,482
1$1,4822$1,5503$1,5954$1,6205$1,895
$1,895
RENT COMPS ANALYSIS
  • 12709 Oldehurst Place Charlotte, NC 4
    • 4 beds 4 baths ∙ 2,525 Sqft ∙ Built 2007 4 beds 4 baths ∙ 2,525 Sqft ∙ Built 2007
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,620
    • $0.64
    •  
  • 15131 Oldcorn Lane Charlotte, NC 1
    • 4 beds 3 baths ∙ 2,216 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,216 Sqft ∙ Built 2005
    property image
    LEASED 02/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,482
    • $0.67
    •  
  • 12805 Sandpines Lane Charlotte, NC 2
    • 4 beds 3 baths ∙ 2,216 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,216 Sqft ∙ Built 2004
    property image
    LEASED 08/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.70
    •  
  • 533 Wrayhill Drive Charlotte, NC 3
    • 4 beds 3 baths ∙ 2,553 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,553 Sqft ∙ Built 2007
    property image
    LEASED 02/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.62
    •  
  • 623 Wrayhill Drive Charlotte, NC 5
    • 5 beds 3 baths ∙ 2,430 Sqft ∙ Built 2007 5 beds 3 baths ∙ 2,430 Sqft ∙ Built 2007
    property image
    LEASED 05/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.78
    •  
PROPERTY LISTING DETAILS
Brian Augustine
1.704.521.2735
Elite Team Realty
BESbswy