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12813 Delvin Castle Court Pineville, NC 28134

3 Beds 3 Baths 2,022 sqft Built 2014

$313,500

List Price

$1,790

$1.6K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $155.04
  • 4 Days on Market
  • MLS # : 3717251
  • Updated Date : 03/13/2021 at 13:25
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,022 sqft
  • Baths : 2 full , 1 half
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Charming 2-story Charleston style home w/open floor plan. Spacious Great Room opens to Eating Area, Kitchen & Sitting Rm/Flex Space. Kitchen features granite counters, a tumble stone backsplash, staggered height cabinets, SS appliances, pendant lighting & Pantry. Hardwood floors through-out the main, upgraded light fixtures & the addition of wainscoting trim in Eating Area add elegance to the home. Master Bedroom Suite is sizeable & can easily accommodate large furniture. The Master Bath features a dual vanity with a granite countertop, garden tub for soaking & large closet. Secondary bedrooms are also spacious & have walk-in closets. The Loft is that great space, usable in so many ways. Laundry Rm is conveniently upstairs & includes a side worktable. Professionally painted interior, dishwasher replaced w/upgraded brand. Great location w/easy access to everything. Walkable neighborhood w/small recreational space/dog area for homeowners use.

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: Pineville

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230k240k250kPrice in $108k251k

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

Neighborhood: Pineville

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8421652

* 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
 

$282,150$344,850$313,500

PURCHASE PRICE

$1,611$1,969$1,790

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,790
EXPENSES Loan Payment -$1,089
Property Tax -$259
Property Insurance -$65
HOA -$42
Property Management Fees -$119
CASH FLOW
$216

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$313,500

PROJECTED PRICE

$1,790

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 9.2%
Maintenance Year (1-5) 8.00%
Vacancy 6.57%
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$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$88,828

INVESTMENT

$88,828

Down Payment
$78,375
Rehab Estimate
$5,750
Closing Costs
$4,703

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,089

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $78,375
Loan Amount $235,125
See What Happens When You Reinvest Cash Flow

8.5

YEARS SAVED

$35,824

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,790

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,911

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,790
1$1,7902$1,8953$1,9954$2,0105$2,075
$2,075
RENT COMPS ANALYSIS
  • 12813 Delvin Castle Court Pineville, NC 1
    • 3 beds 3 baths ∙ 2,022 Sqft ∙ Built 2014 3 beds 3 baths ∙ 2,022 Sqft ∙ Built 2014
    • Rent
    • Rent Per SQFT
    •  
    • $1,790
    • $0.89
    •  
  • 12008 Harmon Lane Pineville, NC 2
    • 3 beds 3 baths ∙ 2,050 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,050 Sqft ∙ Built 2002
    LEASED 06/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.92
    •  
  • 718 Lyndon Station Drive Pineville, NC 3
    • 3 beds 3 baths ∙ 1,968 Sqft ∙ Built 2019 3 beds 3 baths ∙ 1,968 Sqft ∙ Built 2019
    LEASED 03/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.01
    •  
  • 13327 Edgetree Drive Pineville, NC 4
    • 4 beds 3 baths ∙ 2,177 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,177 Sqft ∙ Built 2001
    LEASED 02/12/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,010
    • $0.92
    •  
  • 12817 Delvin Castle Court Pineville, NC 5
    • 3 beds 3 baths ∙ 2,198 Sqft ∙ Built 2010 3 beds 3 baths ∙ 2,198 Sqft ∙ Built 2010
    LEASED 03/04/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,075
    • $0.94
    •  
PROPERTY LISTING DETAILS
Judy Knechtel
1.704.779.5782
Coldwell Banker Realty
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3717251
Last Updated: 03/13/2021
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