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13507 Stones Landing Street Charlotte, NC 29278

3 Beds 3 Baths 1,865 sqft Built 2004

$285,000

List Price

$1,620

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $152.82
  • 10 Days on Market
  • MLS # : 3710275
  • Updated Date : 02/27/2021 at 14:36
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,865 sqft
  • Baths : 2 full , 1 half
Listing Agent

Homes Of The South Inc

Listing Agent's Description

Welcome home to this fabulous open floor plan with 3 bedrooms upstairs and a big bonus room to enjoy. There is a fenced backyard with a level lot. Laminate wood flooring on the main and carpet upstairs. Location on this one is so convenient to shopping and restaurants. There is Amenities to enjoy, pool, clubhouse and tennis courts.

SEE MORE

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: Steele Creek

No Data Available.

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

Neighborhood: Steele Creek

No Data Available.

* 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
Winget Park Elementary School Primary Regular 451 28 4
Southwest Middle School Middle Regular 1,403 72 6
Math, Engineering, Technology And Science At Olympic High School High Regular 607 28 7

Winget Park Elementary School

  • Education Level: Primary
  • # of students: 451
  • # of teachers: 28
4
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
 

$256,500$313,500$285,000

PURCHASE PRICE

$1,458$1,782$1,620

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,620
EXPENSES Loan Payment -$990
Property Tax -$248
Property Insurance -$62
Property Management Fees -$119
CASH FLOW
$200

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.

$285,000

PROJECTED PRICE

$1,620

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 2.5%
Maintenance Year (1-5) 8.00%
Vacancy 6.00%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$81,275

INVESTMENT

$81,275

Down Payment
$71,250
Rehab Estimate
$5,750
Closing Costs
$4,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$990

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $71,250
Loan Amount $213,750
See What Happens When You Reinvest Cash Flow

8.33

YEARS SAVED

$31,470

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,620

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,613

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,5953$1,6204$1,6505$1,725
$1,725
RENT COMPS ANALYSIS
  • 13507 Stones Landing Street Charlotte, NC 3
    • 3 beds 3 baths ∙ 1,865 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,865 Sqft ∙ Built 2004
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,620
    • $0.87
    •  
  • 12723 Walking Stick Drive Charlotte, NC 1
    • 3 beds 3 baths ∙ 2,001 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,001 Sqft ∙ Built 2002
    property image
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.80
    •  
  • 12120 Creek Turn Drive Charlotte, NC 2
    • 3 beds 2 baths ∙ 1,784 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,784 Sqft ∙ Built 2004
    property image
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.89
    •  
  • 11911 Planters Estates Drive Charlotte, NC 4
    • 3 beds 2 baths ∙ 1,861 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,861 Sqft ∙ Built 2004
    property image
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.89
    •  
  • 12929 Beddingfield Drive Charlotte, NC 5
    • 3 beds 3 baths ∙ 1,956 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,956 Sqft ∙ Built 2004
    property image
    LEASED 07/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.88
    •  
PROPERTY LISTING DETAILS
Patti Bourgoin
1.704.904.6380
Homes Of The South Inc
1.866.250.5610
Carolina Multiple Listing Services ( Carolina)
MLS #: 3710275
Last Updated: 02/27/2021
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