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13208 Crooked Pine Court Charlotte, NC 28215

3 Beds 2 Baths 1,340 sqft Built 1998

$255,000

List Price

$1,360

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $190.30
  • 5 Days on Market
  • MLS # : 3697920
  • Updated Date : 01/16/2021 at 00:05
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,340 sqft
  • Baths : 2 full
Listing Agent

Offerpad Brokerage Llc

Listing Agent's Description

Well loved and cared for home in sought after Rocky Ridge Neighborhood! Move in Ready ranch style 3 bed/2bath home with brand new carpet, fresh paint, and new dishwasher. Roof is 1 year old with lifetime warranty. 1 car garage w custom pull down work table. Enjoy the private fenced in backyard with deck. Plus No HOA! Great Location close to I-485 exit 41 and convenient to everything! This home won't last long!

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: 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
Clear Creek Elementary School Primary Regular 647 37 6
Northeast Middle School Middle Regular 739 45 3
Rocky River High School High Regular 1,710 90 3

Clear Creek Elementary School

  • Education Level: Primary
  • # of students: 647
  • # of teachers: 37
6
GreatSchools Rating

Northeast Middle School

  • Education Level: Middle
  • # of students: 739
  • # of teachers: 45
3
GreatSchools Rating

Rocky River High School

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

$229,500$280,500$255,000

PURCHASE PRICE

$1,224$1,496$1,360

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,360
EXPENSES Loan Payment -$886
Property Tax -$222
Property Insurance -$52
Property Management Fees -$119
CASH FLOW
$81

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.

$255,000

PROJECTED PRICE

$1,360

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.98%
Appreciation Year (1-5) 8.9%
Maintenance Year (1-5) 8.00%
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$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$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$73,325

INVESTMENT

$73,325

Down Payment
$63,750
Rehab Estimate
$5,750
Closing Costs
$3,825

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$886

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $63,750
Loan Amount $191,250
See What Happens When You Reinvest Cash Flow

6.67

YEARS SAVED

$20,306

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,360

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $1,142

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,360
1$1,3602$1,3953$1,3994$1,3995$1,460
$1,460
RENT COMPS ANALYSIS
  • 13208 Crooked Pine Court Charlotte, NC 1
    • 3 beds 2 baths ∙ 1,340 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,340 Sqft ∙ Built 1998
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,360
    • $1.01
    •  
  • 13403 Willow Falls Road Charlotte, NC 2
    • 3 beds 2 baths ∙ 1,662 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,662 Sqft ∙ Built 2000
    property image
    LEASED 01/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.84
    •  
  • 13215 Crooked Pine Court Charlotte, NC 3
    • 3 beds 3 baths ∙ 1,656 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,656 Sqft ∙ Built 1997
    property image
    LEASED 12/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,399
    • $0.84
    •  
  • 12312 Green Fairway Drive Charlotte, NC 4
    • 4 beds 2 baths ∙ 1,649 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,649 Sqft ∙ Built 2005
    property image
    LEASED 03/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,399
    • $0.85
    •  
  • 10115 Green Grass Road Charlotte, NC 5
    • 3 beds 2 baths ∙ 1,688 Sqft ∙ Built 2010 3 beds 2 baths ∙ 1,688 Sqft ∙ Built 2010
    property image
    LEASED 11/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,460
    • $0.86
    •  
PROPERTY LISTING DETAILS
Rachael Bryant
1.980.309.5326
Offerpad Brokerage Llc
BESbswy