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13107 Biltmore Drive Charlotte, NC 28262

4 Beds 3 Baths 2,345 sqft Built 2020

$318,000

List Price

$1,780

$1.6K - $2K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
December 02, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $135.61
  • 5 Days on Market
  • MLS # : 3687214
  • Updated Date : 12/04/2020 at 12:20
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,345 sqft
  • Baths : 2 full , 1 half
Listing Agent

Allen Tate Matthews/mint Hill

Listing Agent's Description

Custom Built Home with 4 Bedrooms and 2.5 Bathrooms. Open floor plan with Living room, Family Room, Dining Room and a beautiful Kitchen Island to envy! All bedrooms upstairs giving you space to enjoy down stairs with family and friends. Large back patio ready for your family gatherings through the whole year. NO HOA fees!

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
 

$286,200$349,800$318,000

PURCHASE PRICE

$1,602$1,958$1,780

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,780
EXPENSES Loan Payment -$1,173
Property Tax -$295
Property Insurance -$71
Property Management Fees -$119
CASH FLOW
$121

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.

$318,000

PROJECTED PRICE

$1,780

PROJECTED RENT

0.56%

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$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

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$86,270

INVESTMENT

$86,270

Down Payment
$79,500
Rehab Estimate
$2,000
Closing Costs
$4,770

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,173

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $79,500
Loan Amount $238,500
See What Happens When You Reinvest Cash Flow

7.25

YEARS SAVED

$33,442

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,780

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $1,794

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6953$1,7804$1,8955$2,060
$2,060
RENT COMPS ANALYSIS
  • 13107 Biltmore Drive Charlotte, NC 3
    • 4 beds 3 baths ∙ 2,345 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,345 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,780
    • $0.76
    •  
  • 12839 Sandpines Lane Charlotte, NC 1
    • 3 beds 3 baths ∙ 2,159 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,159 Sqft ∙ Built 2004
    property image
    LEASED 12/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.74
    •  
  • 1036 Reigate Road Charlotte, NC 2
    • 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
    •  
  • 623 Wrayhill Drive Charlotte, NC 4
    • 5 beds 3 baths ∙ 2,430 Sqft ∙ Built 2007 5 beds 3 baths ∙ 2,430 Sqft ∙ Built 2007
    property image
    LEASED 05/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.78
    •  
  • 106 Withershinn Drive Charlotte, NC 5
    • 5 beds 3 baths ∙ 2,460 Sqft ∙ Built 1988 5 beds 3 baths ∙ 2,460 Sqft ∙ Built 1988
    property image
    LEASED 09/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,060
    • $0.84
    •  
PROPERTY LISTING DETAILS
Silvia Alvarado
1.704.604.0963
Allen Tate Matthews/mint Hill
BESbswy