Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

13617 Gatestone Lane Pineville, NC 28134

3 Beds 2 Baths 1,228 sqft Built 1988

$229,000

List Price

$1,250

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

December 03, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $186.48
  • 4 Days on Market
  • MLS # : 3688248
  • Updated Date : 12/03/2020 at 15:09
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,228 sqft
  • Baths : 2 full
Listing Agent

Highgarden Real Estate

Listing Agent's Description

Back on the market. The loan falls through. Look no further. Adorable Ranch 3 Beds, 2 Baths with 1 car garage South Charlotte area. Mostly laminate Hardwood Floor. Double extra contract driveway. Enjoy private nice backyard screen Porch.

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: Ballantyne West

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $108k318k

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

Neighborhood: Ballantyne West

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700180019002000Rent in $8442026

* 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
Pineville Elementary School Primary Regular 811 45 7
Quail Hollow Middle School Middle Regular 946 51 3
South Mecklenburg High School High Regular 2,913 147 7

Pineville Elementary School

  • Education Level: Primary
  • # of students: 811
  • # of teachers: 45
7
GreatSchools Rating

Quail Hollow Middle School

  • Education Level: Middle
  • # of students: 946
  • # of teachers: 51
3
GreatSchools Rating

South Mecklenburg High School

  • Education Level: High
  • # of students: 2,913
  • # of teachers: 147
7
GreatSchools Rating
 

$206,100$251,900$229,000

PURCHASE PRICE

$1,125$1,375$1,250

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,250
EXPENSES Loan Payment -$845
Property Tax -$184
Property Insurance -$50
Property Management Fees -$119
CASH FLOW
$52

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.

$229,000

PROJECTED PRICE

$1,250

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 4.3%
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$100k$200k$300k$400k$500k$600k$700k

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$66,435

INVESTMENT

$66,435

Down Payment
$57,250
Rehab Estimate
$5,750
Closing Costs
$3,435

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$845

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $57,250
Loan Amount $171,750
See What Happens When You Reinvest Cash Flow

7.17

YEARS SAVED

$23,060

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,250

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $1,256

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,3453$1,3504$1,3955$1,448
$1,448
RENT COMPS ANALYSIS
  • 13617 Gatestone Lane Pineville, NC 1
    • 3 beds 2 baths ∙ 1,228 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,228 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.02
    •  
  • 12133 Danby Road Pineville, NC 2
    • 3 beds 2 baths ∙ 1,291 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,291 Sqft ∙ Built 1985
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,345
    • $1.04
    •  
  • 13811 Dansington Court Pineville, NC 3
    • 3 beds 2 baths ∙ 1,330 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,330 Sqft ∙ Built 1984
    LEASED 12/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.02
    •  
  • 13702 Dealtry Lane Pineville, NC 4
    • 3 beds 2 baths ∙ 1,386 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,386 Sqft ∙ Built 1987
    LEASED 05/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.01
    •  
  • 13801 Dannemara Drive Pineville, NC 5
    • 4 beds 2 baths ∙ 1,425 Sqft ∙ Built 1986 4 beds 2 baths ∙ 1,425 Sqft ∙ Built 1986
    LEASED 12/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,448
    • $1.02
    •  
PROPERTY LISTING DETAILS
Chong Choi
1.704.839.1575
Highgarden Real Estate
BESbswy