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1323 San Gabriel Avenue Charlotte, NC 28214

5 Beds 4 Baths 2,901 sqft Built 2016

$374,900

List Price

$1,930

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $129.23
  • 7 Days on Market
  • MLS # : 3687207
  • Updated Date : 12/05/2020 at 08:11
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,901 sqft
  • Baths : 4 full
Listing Agent

Wilkinson Era Real Estate

Listing Agent's Description

Spacious turn-key home features premium amenities, ample storage, outdoor oasis in fantastic location. Premium stone Craftsman exterior w/ manicured lawn. Large kitchen w/ SS appliances, mosaic tile, granite, premium cabinets, dual height island. Open living room w/ stone wrapped fireplace perfect for entertaining. Airy master w/ tray ceiling, french doors open to luxurious granite/tile bath w/ large soaking tub. Upgraded laundry w/ tile, custom counter, HE washer/dryer. Guest suite on main offers extra privacy away from other bedrooms. Beautifully landscaped yard w/ 3 patios—open, covered w/fan, paver w/fire pit—overlooks privacy fence to tree-lined green space. Oversized garage w/overhead/wall storage racks, tool bench, cabinets. Custom drop zone, 9’ ceilings, crown molding, wainscoting, faux-wood blinds, 3-zone programmable thermostat, energy-efficient HVAC. Conveniently located off I-485/85 near Whitewater Center, airport. Don’t miss this captivating home, it won’t last long!

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Moores Chapel

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $74k235k

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

Neighborhood: Moores Chapel

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2700800900100011001200130014001500Rent in $6771518

* 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
Whitewater Academy Primary Unknown 756 45 NA
Whitewater Middle School Middle Regular 924 53 5
West Mecklenburg High School High Regular 2,040 108 1

Whitewater Academy

  • Education Level: Primary
  • # of students: 756
  • # of teachers: 45
NA
GreatSchools Rating

Whitewater Middle School

  • Education Level: Middle
  • # of students: 924
  • # of teachers: 53
5
GreatSchools Rating

West Mecklenburg High School

  • Education Level: High
  • # of students: 2,040
  • # of teachers: 108
1
GreatSchools Rating
 

$337,410$412,390$374,900

PURCHASE PRICE

$1,737$2,123$1,930

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,930
EXPENSES Loan Payment -$1,383
Property Tax -$327
Property Insurance -$82
HOA -$10
Property Management Fees -$119
CASH FLOW
$9

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.

$374,900

PROJECTED PRICE

$1,930

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 7.5%
Maintenance Year (1-5) 8.00%
Vacancy 6.02%
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$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$105,099

INVESTMENT

$105,099

Down Payment
$93,725
Rehab Estimate
$5,750
Closing Costs
$5,624

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,383

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $93,725
Loan Amount $281,175
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$25,485

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,930

    LIST RENT
  • $0.67

    LIST RENT PER SQFT
  • $1,675

    COMP ESTIMATED VALUE
  • $0.58

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,5253$1,5954$1,6005$1,930
$1,930
RENT COMPS ANALYSIS
  • 1323 San Gabriel Avenue Charlotte, NC 5
    • 5 beds 4 baths ∙ 2,901 Sqft ∙ Built 2016 5 beds 4 baths ∙ 2,901 Sqft ∙ Built 2016
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,930
    • $0.67
    •  
  • 601 River Hills Court Charlotte, NC 1
    • 4 beds 3 baths ∙ 2,712 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,712 Sqft ∙ Built 2006
    property image
    LEASED 02/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.55
    •  
  • 10738 Pointer Ridge Drive Charlotte, NC 2
    • 4 beds 3 baths ∙ 2,636 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,636 Sqft ∙ Built 2005
    property image
    LEASED 12/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.58
    •  
  • 2334 Sonoma Valley Drive Charlotte, NC 3
    • 4 beds 3 baths ∙ 2,840 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,840 Sqft ∙ Built 2007
    property image
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.56
    •  
  • 11640 Tribal Drive Charlotte, NC 4
    • 4 beds 3 baths ∙ 2,712 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,712 Sqft ∙ Built 2014
    property image
    LEASED 07/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.59
    •  
PROPERTY LISTING DETAILS
Eddie Torres
1.980.428.0924
Wilkinson Era Real Estate
BESbswy