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13515 Glasgow Green Lane Charlotte, NC 28213

3 Beds 3 Baths 1,952 sqft Built 2005

$250,000

List Price

$1,480

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

December 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $128.07
  • 2 Days on Market
  • MLS # : 3690956
  • Updated Date : 12/12/2020 at 23:51
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,952 sqft
  • Baths : 2 full , 1 half
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Prepare to fall in love with this move-in ready home in the popular Coventry subdivision with only one owner! This well taken care of home offers 3 bedrooms, 2.5 baths with a spacious loft upstairs. Kitchen has tons of natural light and features a large center island with overhang for extra seating and room to eat. Downstairs has tons of space for entertaining... or you can just relax after a long day on the back patio. The upstairs loft can be used as an office, playroom or anything else you can imagine. Bedrooms are bright and cozy. Convenient location, minutes to I-485. Nearby shopping, restaurants, and grocery stores. Minutes from the Light Rail for convenient access to uptown Charlotte! Enjoy access to two community pools. Welcome home!!!

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: Back Creek Church Road

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $116k318k

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

Neighborhood: Back Creek Church Road

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8441809

* 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
Stoney Creek Elementary School Primary Regular 853 50 4
James Martin Middle School Middle Regular 1,113 54 3
Vance High School High Regular 1,714 91 3

Stoney Creek Elementary School

  • Education Level: Primary
  • # of students: 853
  • # of teachers: 50
4
GreatSchools Rating

James Martin Middle School

  • Education Level: Middle
  • # of students: 1,113
  • # of teachers: 54
3
GreatSchools Rating

Vance High School

  • Education Level: High
  • # of students: 1,714
  • # of teachers: 91
3
GreatSchools Rating
 

$225,000$275,000$250,000

PURCHASE PRICE

$1,332$1,628$1,480

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,480
EXPENSES Loan Payment -$922
Property Tax -$218
Property Insurance -$64
Property Management Fees -$119
CASH FLOW
$157

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.

$250,000

PROJECTED PRICE

$1,480

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 7.4%
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

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$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$72,000

INVESTMENT

$72,000

Down Payment
$62,500
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$922

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,500
Loan Amount $187,500
See What Happens When You Reinvest Cash Flow

9.08

YEARS SAVED

$35,907

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,480

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $1,518

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,4803$1,5254$1,5505$1,595
$1,595
RENT COMPS ANALYSIS
  • 13515 Glasgow Green Lane Charlotte, NC 2
    • 3 beds 3 baths ∙ 1,952 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,952 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,480
    • $0.76
    •  
  • 4010 Woolcott Avenue Charlotte, NC 1
    • 4 beds 3 baths ∙ 1,829 Sqft ∙ Built 2001 4 beds 3 baths ∙ 1,829 Sqft ∙ Built 2001
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.79
    •  
  • 2528 Woodsorrel Lane Charlotte, NC 3
    • 4 beds 3 baths ∙ 2,013 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,013 Sqft ∙ Built 2013
    LEASED 12/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.76
    •  
  • 5939 Aldersgate Avenue Charlotte, NC 4
    • 3 beds 2 baths ∙ 1,961 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,961 Sqft ∙ Built 2005
    LEASED 02/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.79
    •  
  • 4708 Abercromby Street Charlotte, NC 5
    • 4 beds 3 baths ∙ 2,076 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,076 Sqft ∙ Built 2005
    LEASED 02/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.77
    •  
PROPERTY LISTING DETAILS
Michelle Mercado
1.860.910.3434
Coldwell Banker Realty
BESbswy