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
REQUEST INFO
SCHEDULE APPOINTMENT
It's free, with no obligation
PROPERTY INFO
FACTS
- Single Family
- Built In 2006
- Price/Sqft : $157.32
- 3 Days on Market
- MLS # : 3710273
- Updated Date : 02/20/2021 at 19:38
CONSTRUCTION
- Beds : 5
- Floor Size : 2,854 sqft
- Baths : 2 full , 1 half
Listing Agent
Northgroup Real Estate, Inc.
Listing Agent's Description
Beautiful 2 story home located in the desirable Providence Pointe neighborhood. Open floor plan with plenty of large windows allowing natural lighting into home. This home has been well maintained and includes a large room on the main level that can be used as a bedroom or home office. Four bedrooms on upper level. Spacious master bathroom with garden tub. Backyard features covered patio with built in stone seating as well as ceiling fans perfect for outdoor entertaining! Home backs up against wooded forest allowing plenty of privacy. Spacious two car garage. This home is conveniently located near all the shopping, dining and entertainment that Ballantyne has to offer!
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: Ballantyne West
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Ballantyne West
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,260 |
| EXPENSES | Loan Payment | -$1,560 |
| Property Tax | -$408 | |
| Property Insurance | -$81 | |
| HOA | -$52 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$41
|
||
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.
$449,000
PROJECTED PRICE
$2,260
PROJECTED RENT
0.50%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$124,735
LOAN DETAILS
$1,560
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $112,250 |
| Loan Amount | $336,750 |
5.92
YEARS SAVED
$30,122
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,260
LIST RENT -
$0.79
LIST RENT PER SQFT
-
$2,262
COMP ESTIMATED VALUE -
$0.79
COMP AVG. RENT PER SQFT
Comps Range
-
13906 Daltrey Lane Charlotte, NC 3
- 5 beds 3 baths ∙ 2,854 Sqft ∙ Built 2006 5 beds 3 baths ∙ 2,854 Sqft ∙ Built 2006
![property image]()
- Rent
- Rent Per SQFT
- $2,260
- $0.79
-
12438 Chesley Drive Charlotte, NC 1
- 4 beds 3 baths ∙ 2,665 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,665 Sqft ∙ Built 2004
![property image]()
LEASED 02/04/20- Rent
- Rent Per SQFT
- $2,100
- $0.79
-
12504 Chesley Drive Charlotte, NC 2
- 4 beds 4 baths ∙ 2,826 Sqft ∙ Built 2004 4 beds 4 baths ∙ 2,826 Sqft ∙ Built 2004
![property image]()
LEASED 04/24/20- Rent
- Rent Per SQFT
- $2,195
- $0.78
-
14720 Provence Lane Charlotte, NC 4
- 5 beds 3 baths ∙ 2,926 Sqft ∙ Built 2006 5 beds 3 baths ∙ 2,926 Sqft ∙ Built 2006
![property image]()
LEASED 06/25/20- Rent
- Rent Per SQFT
- $2,295
- $0.78
-
15232 Prescott Hill Avenue Charlotte, NC 5
- 4 beds 3 baths ∙ 2,925 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,925 Sqft ∙ Built 2005
![property image]()
LEASED 03/24/20- Rent
- Rent Per SQFT
- $2,395
- $0.82
PROPERTY LISTING DETAILS
1.704.726.9848
Northgroup Real Estate, Inc.
MLS #: 3710273
Last Updated: 02/20/2021
