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13915 Acorn Creek Lane Charlotte, NC 28269

3 Beds 2 Baths 2,436 sqft Built 2007

$350,000

List Price

$1,760

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $143.68
  • 1 Days on Market
  • MLS # : CAR3761809
  • Updated Date : 07/13/2021 at 04:57
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,436 sqft
  • Baths : 2 full
Listing Agent

Jp & Associates, Realtors Caro

Listing Agent's Description

Showings begin Friday, July 16: Amazing 1-story ranch home in coveted Highland Creek: more amenities than I have room to list! Over 2400 square feet all on one level! Step from your covered front porch into the open foyer with hardwoods that stretch from hallways to dining room, living room, family room, kitchen, breakfast nook & even the Master Bedroom! A kitchen comprised of granite counters with a raised breakfast bar to overlook both living & Family Rooms, The master suite includes dual vanities, dual closets, a vaulted ceiling, garden tub, separate shower, and enough space to create a sitting area! The front bedroom is perfect for use an an office with the bay-window to match the bay window in the breakfast nook that overlooks the private backyard! The sunroom adds a great living space that takes advantage of the natural light and the private tree-lined backyard. The over sized laundry room near the garage has extra built-in cabinet storage & a sink to double as a mud room!

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Parkway Oaks

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $116k318k

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

Neighborhood: Parkway Oaks

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
Highland Creek Elementary School Primary Regular 1,105 57 7
Ridge Road Middle School Middle Regular 1,285 65 6
Mallard Creek High School High Regular 2,472 123 6

Highland Creek Elementary School

  • Education Level: Primary
  • # of students: 1,105
  • # of teachers: 57
7
GreatSchools Rating

Ridge Road Middle School

  • Education Level: Middle
  • # of students: 1,285
  • # of teachers: 65
6
GreatSchools Rating

Mallard Creek High School

  • Education Level: High
  • # of students: 2,472
  • # of teachers: 123
6
GreatSchools Rating
 

$315,000$385,000$350,000

PURCHASE PRICE

$1,584$1,936$1,760

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,760
EXPENSES Loan Payment -$1,216
Property Tax -$305
Property Insurance -$73
HOA -$54
Property Management Fees -$119
CASH FLOW
-$7

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.

$350,000

PROJECTED PRICE

$1,760

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 6.4%
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$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,500

INVESTMENT

$98,500

Down Payment
$87,500
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,216

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,500
Loan Amount $262,500
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$20,125

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $1,900

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,7953$1,8004$1,9455$2,000
$2,000
RENT COMPS ANALYSIS
  • 13915 Acorn Creek Lane Charlotte, NC 1
    • 3 beds 2 baths ∙ 2,436 Sqft ∙ Built 2007 3 beds 2 baths ∙ 2,436 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 8925 Coppermine Lane Charlotte, NC 2
    • 3 beds 3 baths ∙ 2,437 Sqft ∙ Built 1998 3 beds 3 baths ∙ 2,437 Sqft ∙ Built 1998
    LEASED 11/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.74
    •  
  • 5705 Whitegate Lane Charlotte, NC 3
    • 4 beds 3 baths ∙ 2,267 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,267 Sqft ∙ Built 1997
    LEASED 04/06/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.79
    •  
  • 6640 Hawksnest Drive Charlotte, NC 4
    • 3 beds 3 baths ∙ 2,354 Sqft ∙ Built 1994 3 beds 3 baths ∙ 2,354 Sqft ∙ Built 1994
    LEASED 12/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,945
    • $0.83
    •  
  • 8209 Laurel Run Drive Charlotte, NC 5
    • 4 beds 3 baths ∙ 2,621 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,621 Sqft ∙ Built 2001
    LEASED 12/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.76
    •  
PROPERTY LISTING DETAILS
Austin S. Dantzler
1.704.727.2891
Jp & Associates, Realtors Caro
BESbswy