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13020 Newburgh Green Drive #13 Charlotte, NC 28273

3 Beds 3 Baths 2,175 sqft Built 2020

$335,740

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $154.36
  • 88 Days on Market
  • MLS # : 3671006
  • Updated Date : 12/29/2020 at 12:09
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,175 sqft
  • Baths : 2 full , 1 half
Listing Agent

Dr Horton Inc

Listing Agent's Description

BEAUTIFUL NEW CONSTRUCTION NEIGHBORHOOD just released in highly desired location of STEELE CREEK! This home includes 36" kitchen cabinets, granite countertops w/ tile backsplash, LED lights, laminate hardwood flooring on the first floor and large owners suite w/on suite bath! Hamilton Green neighborhood is conveniently located off Steele creek road/HWY 160 near Steele Croft Shopping Center. Located 25 minutes from Uptown Charlotte! This home is an incredible value with all the benefits of new construction and a 10 yr. Home Warranty! Home Is Connected smart package included has programmable thermostat, Z-Wave door lock and wireless switch, touchscreen control device, automation platform, video doorbell, and Amazon Echo and Echo Dot. All home features are subject to change without notice. Internet service not included.

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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: Yorkshire

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $103k318k

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

Neighborhood: Yorkshire

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
River Gate Elementary School Primary Regular 828 44 7
Southwest Middle School Middle Regular 1,403 72 6
Math, Engineering, Technology And Science At Olympic High School High Regular 607 28 7

River Gate Elementary School

  • Education Level: Primary
  • # of students: 828
  • # of teachers: 44
7
GreatSchools Rating

Southwest Middle School

  • Education Level: Middle
  • # of students: 1,403
  • # of teachers: 72
6
GreatSchools Rating

Math, Engineering, Technology And Science At Olympic High School

  • Education Level: High
  • # of students: 607
  • # of teachers: 28
7
GreatSchools Rating
 

$302,166$369,314$335,740

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$1,239
Property Tax -$308
Property Insurance -$68
HOA -$54
Property Management Fees -$119
CASH FLOW
-$138

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$335,740

PROJECTED PRICE

$1,650

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 7.2%
Maintenance Year (1-5) 3.00%
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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$90,971

INVESTMENT

$90,971

Down Payment
$83,935
Rehab Estimate
$2,000
Closing Costs
$5,036

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,239

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $83,935
Loan Amount $251,805
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$12,538

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,650

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $1,686

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6503$1,6754$1,7005$1,795
$1,795
RENT COMPS ANALYSIS
  • 13020 Newburgh Green Drive Charlotte, NC 2
    • 3 beds 3 baths ∙ 2,175 Sqft ∙ Built 2020 3 beds 3 baths ∙ 2,175 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.76
    •  
  • 5919 Grove Creek Lane Charlotte, NC 1
    • 3 beds 3 baths ∙ 2,024 Sqft ∙ Built 2001 3 beds 3 baths ∙ 2,024 Sqft ∙ Built 2001
    LEASED 02/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.79
    •  
  • 16211 Long Talon Way Charlotte, NC 3
    • 4 beds 3 baths ∙ 2,295 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,295 Sqft ∙ Built 2006
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.73
    •  
  • 16019 Long Talon Way Charlotte, NC 4
    • 4 beds 3 baths ∙ 2,260 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,260 Sqft ∙ Built 2006
    LEASED 09/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.75
    •  
  • 16414 Austringer Place Charlotte, NC 5
    • 4 beds 3 baths ∙ 2,150 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,150 Sqft ∙ Built 2006
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.83
    •  
PROPERTY LISTING DETAILS
Jerry Harwell
1.704.453.6434
Dr Horton Inc
BESbswy