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12905 Plumleaf Drive Charlotte, NC 28213

4 Beds 3 Baths 3,210 sqft Built 2015

$375,000

List Price

$1,850

$1.7K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $116.82
  • 4 Days on Market
  • MLS # : 3711933
  • Updated Date : 02/27/2021 at 18:26
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,210 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Executive

Listing Agent's Description

This Beautiful home located in the Old Stone Crossing Community is one you Do Not want to miss! This Amazing floor plan features 4 beds, 2 1/2 baths, Living Room, Dining Room, Large Great Room and Morning Room leading to the back yard and patio, separate office/flex space perfect for at home schooling or work and a huge Loft upstairs! The spacious, open kitchen features a walk-in pantry, center island and SS appliances. The enormous Owner's Suite has an area perfect for reading, tv or can be utilized as an office space. Master Bath has separate soaking tub and shower and a large walk-in closet. Tons of storage throughout the home from closets to attic space. The Community features 2 pools, an Olympic size with a Kiddie Pool, Clubhouse, fitness room, playground, and tennis court. Convenient to UNCC, all interstate highways, shopping, malls, restaurants and parks all near by. Please follow Covid-19 protocols: Masks are required and please remove shoes upon entering.

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: Back Creek Church Road

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $116k318k

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

Neighborhood: Back Creek Church Road

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
University Meadows Elementary School Primary Regular 657 45 4
James Martin Middle School Middle Regular 1,113 54 3
Vance High School High Regular 1,714 91 3

University Meadows Elementary School

  • Education Level: Primary
  • # of students: 657
  • # of teachers: 45
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
 

$337,500$412,500$375,000

PURCHASE PRICE

$1,665$2,035$1,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,850
EXPENSES Loan Payment -$1,303
Property Tax -$327
Property Insurance -$88
HOA -$38
Property Management Fees -$119
CASH FLOW
-$24

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.

$375,000

PROJECTED PRICE

$1,850

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 7.4%
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$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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$105,125

INVESTMENT

$105,125

Down Payment
$93,750
Rehab Estimate
$5,750
Closing Costs
$5,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,303

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $93,750
Loan Amount $281,250
See What Happens When You Reinvest Cash Flow

5.25

YEARS SAVED

$20,244

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,850

    LIST RENT
  • $0.58

    LIST RENT PER SQFT
  • $1,862

    COMP ESTIMATED VALUE
  • $0.58

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7503$1,7754$1,8505$1,995
$1,995
RENT COMPS ANALYSIS
  • 12905 Plumleaf Drive Charlotte, NC 4
    • 4 beds 3 baths ∙ 3,210 Sqft ∙ Built 2015 4 beds 3 baths ∙ 3,210 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.58
    •  
  • 10842 Glenluce Avenue Charlotte, NC 1
    • 4 beds 3 baths ∙ 2,964 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,964 Sqft ∙ Built 2006
    LEASED 03/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.57
    •  
  • 13729 Riding Hill Avenue Charlotte, NC 2
    • 4 beds 3 baths ∙ 3,000 Sqft ∙ Built 2005 4 beds 3 baths ∙ 3,000 Sqft ∙ Built 2005
    LEASED 10/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.58
    •  
  • 9911 Jeanette Circle Charlotte, NC 3
    • 4 beds 3 baths ∙ 3,127 Sqft ∙ Built 2004 4 beds 3 baths ∙ 3,127 Sqft ∙ Built 2004
    LEASED 05/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.57
    •  
  • 3014 Oconee Lane Charlotte, NC 5
    • 5 beds 3 baths ∙ 3,310 Sqft ∙ Built 2002 5 beds 3 baths ∙ 3,310 Sqft ∙ Built 2002
    LEASED 02/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.60
    •  
PROPERTY LISTING DETAILS
Paula Shrader
1.980.297.1795
Re/max Executive
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3711933
Last Updated: 02/27/2021
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