Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more
REQUEST INFO
SCHEDULE APPOINTMENT
It's free, with no obligation
PROPERTY INFO
FACTS
- Single Family
- Built In 2002
- Price/Sqft : $142.41
- 3 Days on Market
- MLS # : 3682637
- Updated Date : 12/04/2020 at 15:02
CONSTRUCTION
- Beds : 3
- Floor Size : 1,580 sqft
- Baths : 2 full
Listing Agent
Lyrubec Properties Llc
Listing Agent's Description
Cozy 3 Bedroom/2 Bath home located in the desirable Highland Park community. Home sits on a lot with a wooded backyard. This home features an open floorplan and a bonus room over the garage. Owner's suite bathroom has beautiful tile upgrades.
SEE MORE
- 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: Harburn Forest
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Harburn Forest
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,360 |
| EXPENSES | Loan Payment | -$830 |
| Property Tax | -$196 | |
| Property Insurance | -$57 | |
| HOA | -$18 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$139
|
||
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.
$225,000
PROJECTED PRICE
$1,360
PROJECTED RENT
0.60%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.48% |
| Appreciation Year (1-5) | 7.1% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.31% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$65,375
LOAN DETAILS
$830
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $56,250 |
| Loan Amount | $168,750 |
9
YEARS SAVED
$31,814
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,360
LIST RENT -
$0.86
LIST RENT PER SQFT
-
$1,406
COMP ESTIMATED VALUE -
$0.89
COMP AVG. RENT PER SQFT
Comps Range
-
12908 Deaton Hill Drive Charlotte, NC 1
- 3 beds 2 baths ∙ 1,580 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,580 Sqft ∙ Built 2002
- Rent
- Rent Per SQFT
- $1,360
- $0.86
-
12915 Deaton Hill Drive Charlotte, NC 2
- 3 beds 3 baths ∙ 1,555 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,555 Sqft ∙ Built 2002
LEASED 12/22/19- Rent
- Rent Per SQFT
- $1,375
- $0.88
-
3521 Stoney Garden Drive Charlotte, NC 3
- 3 beds 2 baths ∙ 1,678 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,678 Sqft ∙ Built 2001
LEASED 05/08/20- Rent
- Rent Per SQFT
- $1,450
- $0.86
-
6432 Tunston Lane Charlotte, NC 4
- 3 beds 3 baths ∙ 1,903 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,903 Sqft ∙ Built 1997
LEASED 06/13/19- Rent
- Rent Per SQFT
- $1,725
- $0.91
-
7636 Lady Bank Drive Charlotte, NC 5
- 3 beds 3 baths ∙ 1,890 Sqft ∙ Built 1995 3 beds 3 baths ∙ 1,890 Sqft ∙ Built 1995
LEASED 05/04/20- Rent
- Rent Per SQFT
- $1,725
- $0.91
PROPERTY LISTING DETAILS
1.704.659.6615
Lyrubec Properties Llc
