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13104 Biltmore Drive Charlotte, NC 28262

4 Beds 3 Baths 2,445 sqft Built 2020

$325,000

List Price

$1,590

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $132.92
  • 12 Days on Market
  • MLS # : 3687142
  • Updated Date : 12/09/2020 at 08:26
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,445 sqft
  • Baths : 2 full , 1 half
Listing Agent

Allen Tate Matthews/mint Hill

Listing Agent's Description

Wonderful Custom Built Home available with four bedrooms and 2.5 bathrooms. Open floor plan with a beautiful granite countertop kitchen island welcoming your family. Open floor plan dressed with a modern color scheme throughout the house. Granite counter-tops in all bathrooms. Two car garage and plenty yard for your family to enjoy. GPS does not have this address registered. You may use this address to get to listing 13435 Main Dr Charlotte NC 28262

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: Harris - Houston

NeighborhoodNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230kPrice in $111k235k

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

Neighborhood: Harris - Houston

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500Rent in $7331518

* 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
Stoney Creek Elementary School Primary Regular 853 50 4
James Martin Middle School Middle Regular 1,113 54 3
Vance High School High Regular 1,714 91 3

Stoney Creek Elementary School

  • Education Level: Primary
  • # of students: 853
  • # of teachers: 50
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
 

$292,500$357,500$325,000

PURCHASE PRICE

$1,431$1,749$1,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,590
EXPENSES Loan Payment -$1,199
Property Tax -$301
Property Insurance -$73
Property Management Fees -$119
CASH FLOW
-$103

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$325,000

PROJECTED PRICE

$1,590

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 9.2%
Maintenance Year (1-5) 3.00%
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

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$88,125

INVESTMENT

$88,125

Down Payment
$81,250
Rehab Estimate
$2,000
Closing Costs
$4,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,199

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $81,250
Loan Amount $243,750
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$12,334

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,590

    LIST RENT
  • $0.65

    LIST RENT PER SQFT
  • $1,583

    COMP ESTIMATED VALUE
  • $0.65

    COMP AVG. RENT PER SQFT
Comps Range
$1,585
1$1,5852$1,5903$1,5954$1,6455$1,695
$1,695
RENT COMPS ANALYSIS
  • 13104 Biltmore Drive Charlotte, NC 2
    • 4 beds 3 baths ∙ 2,435 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,435 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,590
    • $0.65
    •  
  • 11023 Silver Glen Lane Charlotte, NC 1
    • 4 beds 3 baths ∙ 2,444 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,444 Sqft ∙ Built 2013
    property image
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,585
    • $0.65
    •  
  • 412 Halliwell Street Charlotte, NC 3
    • 4 beds 3 baths ∙ 2,604 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,604 Sqft ∙ Built 1991
    property image
    LEASED 12/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.61
    •  
  • 300 Wednesbury Boulevard Charlotte, NC 4
    • 4 beds 3 baths ∙ 2,575 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,575 Sqft ∙ Built 2000
    property image
    LEASED 12/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,645
    • $0.64
    •  
  • 1036 Reigate Road Charlotte, NC 5
    • 4 beds 3 baths ∙ 2,423 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,423 Sqft ∙ Built 2004
    property image
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.70
    •  
PROPERTY LISTING DETAILS
Silvia Alvarado
1.704.604.0963
Allen Tate Matthews/mint Hill
BESbswy