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13126 Reunion Street Charlotte, NC 28278

3 Beds 3 Baths 2,532 sqft Built 2010

$333,000

List Price

$1,680

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2010
  • Price/Sqft : $131.52
  • 11 Days on Market
  • MLS # : 3681162
  • Updated Date : 11/21/2020 at 11:37
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,532 sqft
  • Baths : 2 full , 1 half
Listing Agent

E Realty

Listing Agent's Description

Spacious two story single family home. Office space on the first floor. Open floor plan. Formal dinning room with ship lap. Giant master suite has tray ceiling and double closets. Master bath has a water closet, separate tub and shower, double vanity. Close to Rivergate and Lake Wylie. Move in ready.

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: Pleasant Hill Road

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $116k346k

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

Neighborhood: Pleasant Hill Road

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8441854

* 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
 

$299,700$366,300$333,000

PURCHASE PRICE

$1,512$1,848$1,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,680
EXPENSES Loan Payment -$1,229
Property Tax -$290
Property Insurance -$75
HOA -$32
Property Management Fees -$151
CASH FLOW
-$97

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$333,000

PROJECTED PRICE

$1,680

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 6.2%
Maintenance Year (1-5) 8.00%
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

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$93,995

INVESTMENT

$93,995

Down Payment
$83,250
Rehab Estimate
$5,750
Closing Costs
$4,995

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,229

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $83,250
Loan Amount $249,750
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$11,267

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,680

    LIST RENT
  • $0.66

    LIST RENT PER SQFT
  • $1,696

    COMP ESTIMATED VALUE
  • $0.67

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6503$1,6804$1,7005$1,795
$1,795
RENT COMPS ANALYSIS
  • 13126 Reunion Street Charlotte, NC 3
    • 3 beds 3 baths ∙ 2,532 Sqft ∙ Built 2010 3 beds 3 baths ∙ 2,532 Sqft ∙ Built 2010
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $0.66
    •  
  • 13016 Rothe House Road Charlotte, NC 1
    • 3 beds 3 baths ∙ 2,491 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,491 Sqft ∙ Built 2007
    LEASED 10/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.64
    •  
  • 13700 Kensal Green Drive Charlotte, NC 2
    • 4 beds 2 baths ∙ 2,379 Sqft ∙ Built 1995 4 beds 2 baths ∙ 2,379 Sqft ∙ Built 1995
    LEASED 12/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.69
    •  
  • 12712 Cumberland Cove Drive Charlotte, NC 4
    • 3 beds 3 baths ∙ 2,538 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,538 Sqft ∙ Built 2007
    LEASED 04/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.67
    •  
  • 14516 Brotherly Lane Charlotte, NC 5
    • 4 beds 3 baths ∙ 2,732 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,732 Sqft ∙ Built 2015
    LEASED 01/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.66
    •  
PROPERTY LISTING DETAILS
Gregory Evangelist
1.704.491.6718
E Realty
BESbswy