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13618 Porter Creek Road Charlotte, NC 28262

4 Beds 3 Baths 2,786 sqft Built 2006

$327,900

List Price

$1,700

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $117.70
  • 7 Days on Market
  • MLS # : 3682891
  • Updated Date : 11/21/2020 at 00:05
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,786 sqft
  • Baths : 2 full , 1 half
Listing Agent

Groundplay Realty

Listing Agent's Description

MASTER BEDROOM DOWN! It's spacious with trey ceiling; his and her's walk-in closets; separate his and her vanities; jetted tub with separate shower and private latrine; 3 spacious bedrooms upstairs with walk-in closets; 2-story great room with lots of windows; 2 sided gas log fireplace; surround sound; new appliances, gas stove, microwave, & dishwasher; Refrigerator remains; new roof in 2018 with limited warranty; new back door; new lower ac unit; new thermostat; Interior recently painted; kitchen has 9ft ceilings with recess lights, tile back splash, granite counter tops, and large island; lots of cabinet space; walk-in pantry; laminated flooring in kitchen, bk area, pantry, foyer and half bath; laundry room with sink and cabinets; smooth ceilings; six panel doors; spacious formal dining room with crown and picture frame molding; partial brick front; fenced rear yard; security system; coach lights at front door and garage; IT'S WORTH SHOWING AND SEEING!

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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: Mallard Creek - Withrow Downs

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $116k318k

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

Neighborhood: Mallard Creek - Withrow Downs

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
 

$295,110$360,690$327,900

PURCHASE PRICE

$1,530$1,870$1,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$1,210
Property Tax -$288
Property Insurance -$80
HOA -$50
Property Management Fees -$153
CASH FLOW
-$80

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.

$327,900

PROJECTED PRICE

$1,700

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 5.6%
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$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$92,644

INVESTMENT

$92,644

Down Payment
$81,975
Rehab Estimate
$5,750
Closing Costs
$4,919

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,210

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $81,975
Loan Amount $245,925
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$11,861

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,700

    LIST RENT
  • $0.61

    LIST RENT PER SQFT
  • $1,693

    COMP ESTIMATED VALUE
  • $0.61

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6453$1,6504$1,6505$1,700
$1,700
RENT COMPS ANALYSIS
  • 13618 Porter Creek Road Charlotte, NC 5
    • 4 beds 3 baths ∙ 2,786 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,786 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.61
    •  
  • 412 Halliwell Street Charlotte, NC 1
    • 4 beds 3 baths ∙ 2,604 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,604 Sqft ∙ Built 1991
    LEASED 12/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.61
    •  
  • 13810 Purple Bloom Lane Charlotte, NC 2
    • 4 beds 3 baths ∙ 2,687 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,687 Sqft ∙ Built 2005
    LEASED 03/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,645
    • $0.61
    •  
  • 932 Garrison Road Charlotte, NC 3
    • 4 beds 3 baths ∙ 2,717 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,717 Sqft ∙ Built 2003
    LEASED 05/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.61
    •  
  • 10926 Chrudan Drive Charlotte, NC 4
    • 4 beds 3 baths ∙ 2,732 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,732 Sqft ∙ Built 2003
    LEASED 09/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.60
    •  
PROPERTY LISTING DETAILS
Reginald Parker
1.704.597.7766
Groundplay Realty
BESbswy