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PROPERTY INFO
FACTS
- Single Family
- Built In 1996
- Price/Sqft : $123.89
- 3 Days on Market
- MLS # : 3696622
- Updated Date : 01/08/2021 at 15:17
CONSTRUCTION
- Beds : 3
- Floor Size : 2,018 sqft
- Baths : 2 full , 1 half
Listing Agent
Helen Adams Realty
Listing Agent's Description
Great fixer up opportunity in Harbor Club on Lake Wylie. Open floor plan with Formal Living and Dining. Kitchen open to 2 story Great Room. Upstairs overlook to below. Master up with recessed tray, garden tub, and large walk-in closet. Two roomy secondary bedrooms, one with window seat and limited lake view. Large Laundry Room up with closet. Washer and Dryer to stay. Stairs, landing, and Master have recent carpet, and foyer with recent laminate. 2015 gas hot water heater. 2 car garage. Deck. Wooded back yard privacy. Community has day dock for residents but currently closed for replacement. Estate property Sold As Is.
SEE MORE
- 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)
- 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)
PRICE & RENT TRENDS
Neighborhood: Steele Creek
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Steele Creek
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,680 |
| EXPENSES | Loan Payment | -$868 |
| Property Tax | -$256 | |
| Property Insurance | -$65 | |
| HOA | -$57 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$314
|
||
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
$1,680
PROJECTED RENT
0.67%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.48% |
| Appreciation Year (1-5) | 6.0% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.31% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$72,000
LOAN DETAILS
$868
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $62,500 |
| Loan Amount | $187,500 |
11.67
YEARS SAVED
$44,989
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,680
LIST RENT -
$0.83
LIST RENT PER SQFT
-
$1,700
COMP ESTIMATED VALUE -
$0.84
COMP AVG. RENT PER SQFT
Comps Range
-
13901 Kings Carriage Lane Charlotte, NC 3
- 3 beds 3 baths ∙ 2,018 Sqft ∙ Built 1996 3 beds 3 baths ∙ 2,018 Sqft ∙ Built 1996
- Rent
- Rent Per SQFT
- $1,680
- $0.83
-
11630 Village Pond Drive Charlotte, NC 1
- 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 2006
LEASED 05/07/20- Rent
- Rent Per SQFT
- $1,475
- $0.82
-
15236 Edgewater Forest Lane Charlotte, NC 2
- 4 beds 3 baths ∙ 2,072 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,072 Sqft ∙ Built 2005
LEASED 09/23/19- Rent
- Rent Per SQFT
- $1,595
- $0.77
-
14514 Lake Crossing Drive Charlotte, NC 4
- 4 beds 3 baths ∙ 1,875 Sqft ∙ Built 2006 4 beds 3 baths ∙ 1,875 Sqft ∙ Built 2006
LEASED 11/05/19- Rent
- Rent Per SQFT
- $1,695
- $0.90
-
13221 Winslow Hills Drive Charlotte, NC 5
- 3 beds 2 baths ∙ 2,066 Sqft ∙ Built 2005 3 beds 2 baths ∙ 2,066 Sqft ∙ Built 2005
LEASED 05/29/20- Rent
- Rent Per SQFT
- $1,850
- $0.90
PROPERTY LISTING DETAILS
1.704.267.3643
Helen Adams Realty
