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12806 Hedgeway Drive Charlotte, NC 28278

3 Beds 2 Baths 1,440 sqft Built 1991

$260,000

List Price

$1,430

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1991
  • Price/Sqft : $180.56
  • 6 Days on Market
  • MLS # : 3709096
  • Updated Date : 02/26/2021 at 14:35
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,440 sqft
  • Baths : 2 full
Listing Agent

First Properties Of The Carolinas Inc

Listing Agent's Description

GRAB THIS ONE BEFORE SOMEONE ELSE DOES! This RANCH lives large with tall ceilings and tons of natural light! Wooded lot, cul-de-sac street, freshly painted rear deck. Natural area in back provides for loads of privacy! Wood laminate flooring in the GR, Master & a secondary BR. Tile in the Kitchen, Breakfast, Dining & hall way. (no carpet means allergy & pet friendly!). Wood burning fireplace in the Great Room. Good cabinet/counter space in the Kitchen, that has been updated with granite ctrs & SS appliances. Handy pass-thru to the GR and there's also a charming bayed breakfast nook. Large Master with private bath that has dual sink vanity, whirlpool tub & separate tiled shower, WIC. Great location in Steele Creek with shopping & dining close by. Quiet community with lake, playground & walking trail, low HOA dues! Easy single story living. Welcome home!

SEE MORE

MARKET HIGHLIGHTS

  • 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

Neighborhood: Steele Creek

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $116k318k

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

Neighborhood: Steele Creek

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
Winget Park Elementary School Primary Regular 451 28 4
Southwest Middle School Middle Regular 1,403 72 6
Math, Engineering, Technology And Science At Olympic High School High Regular 607 28 7

Winget Park Elementary School

  • Education Level: Primary
  • # of students: 451
  • # of teachers: 28
4
GreatSchools Rating

Southwest Middle School

  • Education Level: Middle
  • # of students: 1,403
  • # of teachers: 72
6
GreatSchools Rating

Math, Engineering, Technology And Science At Olympic High School

  • Education Level: High
  • # of students: 607
  • # of teachers: 28
7
GreatSchools Rating
 

$234,000$286,000$260,000

PURCHASE PRICE

$1,287$1,573$1,430

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,430
EXPENSES Loan Payment -$903
Property Tax -$227
Property Insurance -$54
HOA -$15
Property Management Fees -$119
CASH FLOW
$112

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.

$260,000

PROJECTED PRICE

$1,430

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 6.0%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,650

INVESTMENT

$74,650

Down Payment
$65,000
Rehab Estimate
$5,750
Closing Costs
$3,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$903

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $65,000
Loan Amount $195,000
See What Happens When You Reinvest Cash Flow

7.75

YEARS SAVED

$26,233

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,430

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $1,523

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,4303$1,4954$1,6005$1,645
$1,645
RENT COMPS ANALYSIS
  • 12806 Hedgeway Drive Charlotte, NC 2
    • 3 beds 2 baths ∙ 1,440 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,440 Sqft ∙ Built 1991
    • Rent
    • Rent Per SQFT
    •  
    • $1,430
    • $0.99
    •  
  • 9926 Orchard Grass Court Charlotte, NC 1
    • 3 beds 3 baths ∙ 1,425 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,425 Sqft ∙ Built 2001
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.98
    •  
  • 10321 Orchard Grass Court Charlotte, NC 3
    • 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 2002
    LEASED 02/05/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.03
    •  
  • 12429 Autumn Blaze Drive Charlotte, NC 4
    • 3 beds 3 baths ∙ 1,502 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,502 Sqft ∙ Built 1997
    LEASED 02/19/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.07
    •  
  • 10316 Orchard Grass Court Charlotte, NC 5
    • 3 beds 3 baths ∙ 1,430 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,430 Sqft ∙ Built 2002
    LEASED 06/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,645
    • $1.15
    •  
PROPERTY LISTING DETAILS
Karen Glenn
1.704.996.8804
First Properties Of The Carolinas Inc
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3709096
Last Updated: 02/26/2021
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