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12747 James Blakeney Avenue Charlotte, NC 28277

3 Beds 3 Baths 1,827 sqft Built 2004

$414,900

List Price

$1,860

$1.7K - $2K

Rent Est.

PROPERTY INFO

January 29, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $227.09
  • 8 Days on Market
  • MLS # : 3701465
  • Updated Date : 01/30/2021 at 19:25
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,827 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams South Park

Listing Agent's Description

This incredibly charming and well maintained Charleston style home is located in the highly desirable Blakeney Greens neighborhood of Ballantyne. Features include high ceilings with old world moldings, double rocking chair front porches, stainless steel appliances, tankless water heater, upgraded fans and light fixtures, and beautiful french doors opening to the dinning room/office. The kitchen has a breakfast bar that flows into the eat-in breakfast area and the living room, which boasts a gas log fireplace and plenty of space to unwind. Upstairs you’ll find 3 bedrooms and 2 full bathrooms. The master is spacious and features a walk-in closet, en-suite bathroom, and opens to a lovely upstairs covered porch…a perfect place to sip your morning coffee and enjoy a good book. There is a fully fenced private backyard and in-ground irrigation. Walk to grocery, shops, and restaurants. This is the one you’ve been waiting for! Hurry, it won’t last long!

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: Provincetowne

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $116k363k

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

Neighborhood: Provincetowne

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800190020002100Rent in $8442138

* 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
Hawk Ridge Elementary School Primary Regular 881 49 9
Community House Middle School Middle Regular 1,750 81 9
Ardrey Kell High School High Regular 2,701 127 9

Hawk Ridge Elementary School

  • Education Level: Primary
  • # of students: 881
  • # of teachers: 49
9
GreatSchools Rating

Community House Middle School

  • Education Level: Middle
  • # of students: 1,750
  • # of teachers: 81
9
GreatSchools Rating

Ardrey Kell High School

  • Education Level: High
  • # of students: 2,701
  • # of teachers: 127
9
GreatSchools Rating
 

$373,410$456,390$414,900

PURCHASE PRICE

$1,674$2,046$1,860

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,860
EXPENSES Loan Payment -$1,441
Property Tax -$364
Property Insurance -$62
HOA -$67
Property Management Fees -$119
CASH FLOW
-$192

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.

$414,900

PROJECTED PRICE

$1,860

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 5.4%
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$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$115,699

INVESTMENT

$115,699

Down Payment
$103,725
Rehab Estimate
$5,750
Closing Costs
$6,224

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,441

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $103,725
Loan Amount $311,175
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$10,792

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,860

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $1,754

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,7753$1,7954$1,8605$1,895
$1,895
RENT COMPS ANALYSIS
  • 12747 James Blakeney Avenue Charlotte, NC 4
    • 3 beds 3 baths ∙ 1,827 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,827 Sqft ∙ Built 2004
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,860
    • $1.02
    •  
  • 9216 Bellegarde Drive Charlotte, NC 1
    • 4 beds 3 baths ∙ 1,872 Sqft ∙ Built 2003 4 beds 3 baths ∙ 1,872 Sqft ∙ Built 2003
    property image
    LEASED 10/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.91
    •  
  • 9108 Floufisher Court Charlotte, NC 2
    • 3 beds 3 baths ∙ 1,891 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,891 Sqft ∙ Built 2002
    property image
    LEASED 10/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.94
    •  
  • 12111 Bobhouse Drive Charlotte, NC 3
    • 4 beds 3 baths ∙ 1,820 Sqft ∙ Built 2003 4 beds 3 baths ∙ 1,820 Sqft ∙ Built 2003
    property image
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.99
    •  
  • 9400 Mitchell Glen Drive Charlotte, NC 5
    • 4 beds 3 baths ∙ 1,886 Sqft ∙ Built 2000 4 beds 3 baths ∙ 1,886 Sqft ∙ Built 2000
    property image
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.00
    •  
PROPERTY LISTING DETAILS
Lauren Rosati
1.716.984.6087
Keller Williams South Park
BESbswy