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1299 Trinity Place Granite Falls, NC 28630

3 Beds 2 Baths 1,690 sqft Built 2010

$239,500

List Price

$1,660

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2010
  • Price/Sqft : $141.72
  • 2 Days on Market
  • MLS # : CAR3761457
  • Updated Date : 07/12/2021 at 20:12
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,690 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Newton Re

Listing Agent's Description

Don't miss this immaculate 3 BR 2 Bath home on large .47 acre lot. Home features updated white kitchen cabinets w/granite countertops, stainless steel appliances and split bedroom layout. Home is ready to move in plus enjoy partially finished basement area w/large family room and oversized 2 car garage. Conveniently located between Hickory, Lenoir and Morganton. This will not last at only $239,500

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

Zip Code: 28630

ZipNIR Market*CityMarket2010Year2000201960k70k80k90k100k110k120k130k140k150k160kPrice in $53k169k

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

Zip Code: 28630

No Data Available.

* 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
Baton Elementary School Primary Regular 420 26 5
Hudson Middle School Middle Regular 702 49 7
South Caldwell High School High Regular 1,618 106 5

Baton Elementary School

  • Education Level: Primary
  • # of students: 420
  • # of teachers: 26
5
GreatSchools Rating

Hudson Middle School

  • Education Level: Middle
  • # of students: 702
  • # of teachers: 49
7
GreatSchools Rating

South Caldwell High School

  • Education Level: High
  • # of students: 1,618
  • # of teachers: 106
5
GreatSchools Rating
 

$215,550$263,450$239,500

PURCHASE PRICE

$1,494$1,826$1,660

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,660
EXPENSES Loan Payment -$832
Property Tax -$127
Property Insurance -$58
Property Management Fees -$119
CASH FLOW
$525

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.

$239,500

PROJECTED PRICE

$1,660

PROJECTED RENT

0.69%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 1.2%
Maintenance Year (1-5) 8.00%
Vacancy 6.00%
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$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,218

INVESTMENT

$69,218

Down Payment
$59,875
Rehab Estimate
$5,750
Closing Costs
$3,593

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$832

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $59,875
Loan Amount $179,625
See What Happens When You Reinvest Cash Flow

14.67

YEARS SAVED

$58,724

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,660

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $2,079

    COMP ESTIMATED VALUE
  • $1.23

    COMP AVG. RENT PER SQFT
Comps Range
$1,660
1$1,6602$2,220
$2,220
RENT COMPS ANALYSIS
  • 1299 Trinity Place Granite Falls, NC 1
    • 3 beds 2 baths ∙ 1,690 Sqft ∙ Built 2010 3 beds 2 baths ∙ 1,690 Sqft ∙ Built 2010
    • Rent
    • Rent Per SQFT
    •  
    • $1,660
    • $0.98
    •  
  • 1519 Dockside Court Granite Falls, NC 2
    • 3 beds 1 baths ∙ 1,782 Sqft ∙ Built 2019 3 beds 1 baths ∙ 1,782 Sqft ∙ Built 2019
    LEASED 10/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,220
    • $1.25
    •  
PROPERTY LISTING DETAILS
Tim Newton
1.828.439.5921
Coldwell Banker Newton Re
BESbswy