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13118 Great Laurel Road Charlotte, NC 28227

3 Beds 3 Baths 2,471 sqft Built 2014

INVESTimate

$288,000

List Price

$1,600

$1,440 - $1,760

Rent Est.

$313,747  ( +8.94%)   1 YR EST. FORECAST

PROPERTY INFO

August 24, 2020 RECENTLY ADDED
FACTS
  • Built In 2014
  • Price/Sqft : $116.55
  • 6 Days on Market
  • MLS # : 3653457
  • Updated Date : 08/24/2020 at 00:06
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,471 sqft
  • Baths : 2 full , 1 half
Listing Agent

Exp Realty Llc

Listing Agent's Description

This is THE ONE! Located in popular Woodburry, this 3 bedroom 2.5 bath home with expansive loft space will WOW your clients. First floor features wood floors, a private office, breathtaking one of a kind feature wall w/ custom lighted shelves, designer light fixtures throughout, & half bath. To top it off the most adorable flex space/playroom leads out to the expansive back yard equipped with a stunning pergola, perfect for a relaxing getaway in the privacy of your own home. Kitchen features gorgeous granite countertops, center island, stainless appliances & cabinets galore. The convenient drop zone finishes off the first floor leading into a large garage.The 2nd floor features an expansive loft space with large windows & large secondary bedrooms with walk-in closets. The owner's suite features a large master bath with dual sink vanity, garden/soaker tub, and massive walk-in closet. Home is within walking distance to the community's fabulous amenities! Don't wait, take a tour today!

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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: 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
J.h. Gunn Elementary School Primary Regular 695 42 2
Albemarle Road Middle School Middle Regular 1,198 64 2
Rocky River High School High Regular 1,710 90 3

J.h. Gunn Elementary School

  • Education Level: Primary
  • # of students: 695
  • # of teachers: 42
2
GreatSchools Rating

Albemarle Road Middle School

  • Education Level: Middle
  • # of students: 1,198
  • # of teachers: 64
2
GreatSchools Rating

Rocky River High School

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

$259,200$316,800$288,000

PURCHASE PRICE

$1,440$1,760$1,600

RENT

DOWN PAYMENT
FINANCING

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,600
EXPENSES Loan Payment -$1,063
Property Tax -$256
Property Insurance -$74
HOA -$40
Property Management Fees -$144
CASH FLOW
$24

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.

$288,000

PROJECTED PRICE

$1,600

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 8.94%
Maintenance Year (1-5) 8.00%
Vacancy 6.57%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,070

INVESTMENT

$82,070

Down Payment
$72,000
Rehab Estimate
$5,750
Closing Costs
$4,320

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,063

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $72,000
Loan Amount $216,000
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$15,200

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,600

    LIST RENT
  • $0.65

    LIST RENT PER SQFT
  • $1,637

    COMP ESTIMATED VALUE
  • $0.66

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6353$1,6354$1,6455$1,695
$1,695
RENT COMPS ANALYSIS
  • 13118 Great Laurel Road Charlotte, NC 1
    • 3 beds 3 baths ∙ 2,471 Sqft ∙ Built 2014 3 beds 3 baths ∙ 2,471 Sqft ∙ Built 2014
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.65
    •  
  • 12429 Bending Branch Road Charlotte, NC 2
    • 4 beds 3 baths ∙ 2,651 Sqft ∙ Built 2012 4 beds 3 baths ∙ 2,651 Sqft ∙ Built 2012
    LEASED 10/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,635
    • $0.62
    •  
  • 12104 Bending Branch Road Charlotte, NC 3
    • 4 beds 3 baths ∙ 2,524 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,524 Sqft ∙ Built 2008
    LEASED 10/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,635
    • $0.65
    •  
  • 12915 Longstraw Road Charlotte, NC 4
    • 3 beds 3 baths ∙ 2,388 Sqft ∙ Built 2015 3 beds 3 baths ∙ 2,388 Sqft ∙ Built 2015
    LEASED 09/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,645
    • $0.69
    •  
  • 12921 Longstraw Road Charlotte, NC 5
    • 4 beds 3 baths ∙ 2,494 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,494 Sqft ∙ Built 2015
    LEASED 01/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.68
    •  
PROPERTY LISTING DETAILS
Allison Long
1.980.422.3188
Exp Realty Llc
BESbswy