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13010 Marlstone Lane Charlotte, NC 28215

3 Beds 3 Baths 1,807 sqft Built 1987

$292,000

List Price

$1,530

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $161.59
  • 11 Days on Market
  • MLS # : 3705273
  • Updated Date : 02/13/2021 at 00:05
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,807 sqft
  • Baths : 2 full , 1 half
Listing Agent

Wilkinson Era Real Estate

Listing Agent's Description

COMING SOON! Showings start 2/13. Nestled in a small community with NO HOA, a rural feel, large/flat lot yet close to conveniences/recreation/shopping/medical. Located near Sherman Branch Mtn Bike Trl & convenient to 485/Mint Hill/Harrisburg. Transferrable warranty thru May 2021, appliances stay! New gutters 2019. Wrap around porch, extended deck and fence. Hardwoods, lots of light/windows, established landscaping. Large great room with woodburning fireplace, dining room is great flex space for office/school work. County only taxes. Professional photos coming soon!

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: Bradfield Farms

NeighborhoodNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230kPrice in $113k235k

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

Neighborhood: Bradfield Farms

NeighborhoodNIR Market*CityMarket2010Year20002019 Q285090095010001050110011501200125013001350140014501500Rent in $8421518

* 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
Clear Creek Elementary School Primary Regular 647 37 6
Northeast Middle School Middle Regular 739 45 3
Rocky River High School High Regular 1,710 90 3

Clear Creek Elementary School

  • Education Level: Primary
  • # of students: 647
  • # of teachers: 37
6
GreatSchools Rating

Northeast Middle School

  • Education Level: Middle
  • # of students: 739
  • # of teachers: 45
3
GreatSchools Rating

Rocky River High School

  • Education Level: High
  • # of students: 1,710
  • # of teachers: 90
3
GreatSchools Rating
 

$262,800$321,200$292,000

PURCHASE PRICE

$1,377$1,683$1,530

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,530
EXPENSES Loan Payment -$1,014
Property Tax -$255
Property Insurance -$61
Property Management Fees -$119
CASH FLOW
$81

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.

$292,000

PROJECTED PRICE

$1,530

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 8.9%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$83,130

INVESTMENT

$83,130

Down Payment
$73,000
Rehab Estimate
$5,750
Closing Costs
$4,380

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,014

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $73,000
Loan Amount $219,000
See What Happens When You Reinvest Cash Flow

6.5

YEARS SAVED

$22,131

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,530

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,550

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,399
1$1,3992$1,5303$1,5354$1,5505$1,595
$1,595
RENT COMPS ANALYSIS
  • 13010 Marlstone Lane Charlotte, NC 2
    • 3 beds 3 baths ∙ 1,807 Sqft ∙ Built 1987 3 beds 3 baths ∙ 1,807 Sqft ∙ Built 1987
    • Rent
    • Rent Per SQFT
    •  
    • $1,530
    • $0.85
    •  
  • 12312 Green Fairway Drive Charlotte, NC 1
    • 4 beds 2 baths ∙ 1,649 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,649 Sqft ∙ Built 2005
    LEASED 03/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,399
    • $0.85
    •  
  • 11226 Isthmus Court Charlotte, NC 3
    • 3 beds 2 baths ∙ 1,670 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,670 Sqft ∙ Built 1995
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,535
    • $0.92
    •  
  • 13211 Peacock Lane Charlotte, NC 4
    • 4 beds 3 baths ∙ 1,940 Sqft ∙ Built 1997 4 beds 3 baths ∙ 1,940 Sqft ∙ Built 1997
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.80
    •  
  • 12735 English Walnut Lane Charlotte, NC 5
    • 3 beds 3 baths ∙ 1,788 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,788 Sqft ∙ Built 1999
    LEASED 12/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.89
    •  
PROPERTY LISTING DETAILS
Maura Goldberg
1.704.622.8001
Wilkinson Era Real Estate
BESbswy